Westwood Holdings Group Inc. Has $53.98 Million Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Key Points

• Westwood Holdings Group Inc. increased its stake in Marvell Technology by 70.7% during the first quarter, owning a total of 876,710 shares worth approximately $53.98 million after purchasing an additional 363,191 shares.
• Marvell Technology's stock has received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and a price target averaging around $94.70, despite some target reductions from various firms.
• Insider transactions have seen significant sales, including COO Chris Koopmans selling 6,000 shares, indicating a 6.12% decrease in his ownership of the company following the sale.

Westwood Holdings Group Inc. increased its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 70.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 876,710 shares of the semiconductor company's stock after purchasing an additional 363,191 shares during the period. Westwood Holdings Group Inc. owned approximately 0.10% of Marvell Technology worth $53,979,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Hughes Financial Services LLC acquired a new position in Marvell Technology during the 1st quarter worth $26,000. Rossby Financial LCC acquired a new position in Marvell Technology during the 1st quarter worth $27,000. Financial Connections Group Inc. lifted its position in Marvell Technology by 776.0% during the 1st quarter. Financial Connections Group Inc. now owns 438 shares of the semiconductor company's stock worth $27,000 after acquiring an additional 388 shares during the last quarter. Vision Financial Markets LLC acquired a new position in shares of Marvell Technology during the first quarter valued at about $28,000. Finally, Security National Bank acquired a new position in shares of Marvell Technology during the first quarter valued at about $31,000. 83.51% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $68.52, for a total transaction of $102,780.00. Following the sale, the chief financial officer directly owned 121,348 shares in the company, valued at $8,314,764.96. This trade represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Panteha Dixon sold 1,283 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $68.50, for a total transaction of $87,885.50. Following the sale, the chief accounting officer owned 29,572 shares in the company, valued at approximately $2,025,682. The trade was a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,434 shares of company stock valued at $1,097,826. 0.19% of the stock is currently owned by company insiders.

Marvell Technology Trading Up 0.7%

MRVL traded up $0.53 during mid-day trading on Thursday, hitting $75.85. The stock had a trading volume of 14,602,382 shares, compared to its average volume of 16,720,357. The stock's fifty day simple moving average is $72.62 and its 200-day simple moving average is $75.11. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.30 and a quick ratio of 0.94. The firm has a market capitalization of $65.52 billion, a price-to-earnings ratio of -133.07, a price-to-earnings-growth ratio of 0.82 and a beta of 1.83. Marvell Technology, Inc. has a 1-year low of $47.08 and a 1-year high of $127.48.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. Marvell Technology had a negative net margin of 7.56% and a positive return on equity of 8.42%. The business's revenue for the quarter was up 63.3% compared to the same quarter last year. During the same period last year, the business posted $0.24 earnings per share. As a group, research analysts forecast that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Friday, July 11th were issued a $0.06 dividend. The ex-dividend date was Friday, July 11th. This represents a $0.24 annualized dividend and a yield of 0.3%. Marvell Technology's dividend payout ratio (DPR) is -42.11%.

Wall Street Analyst Weigh In

MRVL has been the subject of a number of research analyst reports. Barclays cut their price objective on shares of Marvell Technology from $130.00 to $80.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Bank of America upped their price objective on shares of Marvell Technology from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Piper Sandler reaffirmed an "overweight" rating and set a $85.00 price objective (down previously from $95.00) on shares of Marvell Technology in a research report on Friday, May 30th. Wells Fargo & Company cut their price objective on shares of Marvell Technology from $120.00 to $95.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Marvell Technology from $100.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, May 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.70.

Marvell Technology Profile

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.