TimesSquare Capital Management LLC Lowers Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

TimesSquare Capital Management LLC lowered its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 66.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 402,700 shares of the semiconductor company’s stock after selling 800,200 shares during the period. TimesSquare Capital Management LLC’s holdings in Marvell Technology were worth $19,724,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of MRVL. Advisory Research Inc. increased its position in shares of Marvell Technology by 22.2% during the first quarter. Advisory Research Inc. now owns 11,436 shares of the semiconductor company’s stock worth $560,000 after purchasing an additional 2,077 shares in the last quarter. Elo Mutual Pension Insurance Co increased its position in shares of Marvell Technology by 1.5% during the first quarter. Elo Mutual Pension Insurance Co now owns 48,348 shares of the semiconductor company’s stock worth $2,368,000 after purchasing an additional 698 shares in the last quarter. Mid Atlantic Financial Management Inc. ADV increased its position in shares of Marvell Technology by 79.0% in the 1st quarter. Mid Atlantic Financial Management Inc. ADV now owns 7,602 shares of the semiconductor company’s stock valued at $372,000 after acquiring an additional 3,354 shares during the period. Teacher Retirement System of Texas increased its position in shares of Marvell Technology by 8.6% in the 1st quarter. Teacher Retirement System of Texas now owns 139,183 shares of the semiconductor company’s stock valued at $6,817,000 after acquiring an additional 10,971 shares during the period. Finally, Montag & Caldwell LLC increased its position in shares of Marvell Technology by 29.7% in the 1st quarter. Montag & Caldwell LLC now owns 16,361 shares of the semiconductor company’s stock valued at $801,000 after acquiring an additional 3,750 shares during the period. Institutional investors own 89.31% of the company’s stock.

Shares of NASDAQ MRVL opened at $51.80 on Friday. The business’s 50 day moving average price is $47.06. The firm has a market cap of $35.00 billion, a P/E ratio of -123.33, a P/E/G ratio of 2.32 and a beta of 1.10. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.50 and a quick ratio of 1.25. Marvell Technology, Inc. has a 1 year low of $32.53 and a 1 year high of $55.70.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings results on Sunday, June 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. Marvell Technology had a negative net margin of 8.13% and a positive return on equity of 5.25%. During the same quarter in the prior year, the company posted $0.18 earnings per share. As a group, equities research analysts forecast that Marvell Technology, Inc. will post 1.02 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 28th. Investors of record on Friday, July 9th will be issued a $0.06 dividend. The ex-dividend date is Thursday, July 8th. This represents a $0.24 annualized dividend and a yield of 0.46%. Marvell Technology’s dividend payout ratio (DPR) is presently 41.38%.

In related news, CEO Matthew J. Murphy sold 20,000 shares of Marvell Technology stock in a transaction that occurred on Monday, May 17th. The shares were sold at an average price of $42.66, for a total value of $853,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew J. Murphy sold 7,500 shares of Marvell Technology stock in a transaction that occurred on Thursday, April 15th. The shares were sold at an average price of $48.66, for a total transaction of $364,950.00. The disclosure for this sale can be found here. Insiders sold a total of 51,071 shares of company stock valued at $2,357,411 in the last quarter. 0.33% of the stock is owned by insiders.

Several research firms recently issued reports on MRVL. Summit Insights raised Marvell Technology from a “hold” rating to a “buy” rating in a research report on Tuesday. Needham & Company LLC increased their price target on Marvell Technology from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday. B. Riley increased their price target on Marvell Technology from $56.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday. KeyCorp increased their price target on Marvell Technology from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Craig Hallum increased their price target on Marvell Technology from $52.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $54.70.

Marvell Technology Company Profile

Marvell Technology, Inc, together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; application specific integrated circuits; and printer SoC products and application processors.

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Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)

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