Blair William & Co. IL Grows Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Blair William & Co. IL boosted its position in Marvell Technology, Inc. (NASDAQ:MRVLGet Rating) by 5.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 637,776 shares of the semiconductor company’s stock after purchasing an additional 30,505 shares during the period. Blair William & Co. IL owned about 0.08% of Marvell Technology worth $55,799,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MRVL. HM Payson & Co. increased its stake in Marvell Technology by 52.5% in the 3rd quarter. HM Payson & Co. now owns 453 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 156 shares in the last quarter. Pittenger & Anderson Inc. purchased a new position in Marvell Technology during the fourth quarter worth $27,000. Covestor Ltd purchased a new position in Marvell Technology during the fourth quarter worth $28,000. Bell Investment Advisors Inc purchased a new position in Marvell Technology during the third quarter worth $31,000. Finally, Blue Bell Private Wealth Management LLC purchased a new position in Marvell Technology during the fourth quarter worth $32,000. 83.11% of the stock is owned by hedge funds and other institutional investors.

Several research firms have weighed in on MRVL. StockNews.com began coverage on Marvell Technology in a research report on Thursday, March 31st. They set a “sell” rating for the company. Barclays dropped their price target on Marvell Technology from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, April 25th. Piper Sandler decreased their price objective on Marvell Technology from $100.00 to $80.00 in a report on Friday, March 4th. Needham & Company LLC decreased their price objective on Marvell Technology from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, March 4th. Finally, Oppenheimer decreased their price objective on Marvell Technology from $110.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, May 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $91.74.

In other Marvell Technology news, insider Muhammad Raghib Hussain sold 45,782 shares of the company’s stock in a transaction on Tuesday, April 19th. The stock was sold at an average price of $61.08, for a total value of $2,796,364.56. Following the transaction, the insider now owns 618,298 shares of the company’s stock, valued at $37,765,641.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Dan Christman sold 4,810 shares of the company’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $57.28, for a total value of $275,516.80. Following the completion of the transaction, the executive vice president now directly owns 108,393 shares in the company, valued at approximately $6,208,751.04. The disclosure for this sale can be found here. Insiders sold 208,610 shares of company stock valued at $13,591,746 over the last 90 days. 0.45% of the stock is currently owned by insiders.

MRVL stock traded up $1.55 during midday trading on Wednesday, reaching $53.95. The company had a trading volume of 857,492 shares, compared to its average volume of 11,082,382. The company has a quick ratio of 1.28, a current ratio of 1.80 and a debt-to-equity ratio of 0.29. The stock has a 50 day moving average price of $62.73 and a 200 day moving average price of $71.20. Marvell Technology, Inc. has a fifty-two week low of $46.77 and a fifty-two week high of $93.85. The firm has a market capitalization of $45.89 billion, a PE ratio of -97.74, a P/E/G ratio of 1.80 and a beta of 1.27.

Marvell Technology (NASDAQ:MRVLGet Rating) last issued its quarterly earnings data on Thursday, March 3rd. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Marvell Technology had a positive return on equity of 5.60% and a negative net margin of 9.44%. The business’s revenue was up 68.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 earnings per share. Research analysts predict that Marvell Technology, Inc. will post 1.73 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 27th. Shareholders of record on Friday, April 8th were given a $0.06 dividend. The ex-dividend date was Thursday, April 7th. This represents a $0.24 dividend on an annualized basis and a yield of 0.44%. Marvell Technology’s dividend payout ratio (DPR) is -44.44%.

Marvell Technology Profile (Get Rating)

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; ASIC; and printer System-on-a-Chip products and application processors.

See Also

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

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