Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Raymond James & Associates

Raymond James & Associates grew its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 11.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,056,530 shares of the semiconductor company’s stock after buying an additional 105,440 shares during the quarter. Raymond James & Associates’ holdings in Marvell Technology were worth $73,851,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of MRVL. Norges Bank purchased a new position in Marvell Technology in the fourth quarter valued at $511,215,000. Lazard Asset Management LLC increased its position in shares of Marvell Technology by 47,934.4% in the first quarter. Lazard Asset Management LLC now owns 4,001,745 shares of the semiconductor company’s stock valued at $283,643,000 after buying an additional 3,993,414 shares in the last quarter. Brown Advisory Inc. raised its stake in shares of Marvell Technology by 25.9% during the 4th quarter. Brown Advisory Inc. now owns 14,764,957 shares of the semiconductor company’s stock worth $890,475,000 after buying an additional 3,036,495 shares during the period. Aspex Management HK Ltd lifted its position in shares of Marvell Technology by 103.8% during the 4th quarter. Aspex Management HK Ltd now owns 5,712,564 shares of the semiconductor company’s stock valued at $344,525,000 after buying an additional 2,908,912 shares in the last quarter. Finally, Whale Rock Capital Management LLC acquired a new stake in Marvell Technology in the 1st quarter valued at $181,559,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Trading Down 0.0 %

NASDAQ:MRVL traded down $0.01 during trading hours on Friday, reaching $69.32. 11,575,832 shares of the stock were exchanged, compared to its average volume of 12,575,054. Marvell Technology, Inc. has a twelve month low of $46.07 and a twelve month high of $85.76. The business has a 50-day moving average of $68.29 and a two-hundred day moving average of $69.32. The company has a market capitalization of $60.00 billion, a price-to-earnings ratio of -61.35, a PEG ratio of 2.99 and a beta of 1.47. The company has a quick ratio of 1.24, a current ratio of 1.80 and a debt-to-equity ratio of 0.28.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, May 30th. The semiconductor company reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Marvell Technology had a positive return on equity of 4.51% and a negative net margin of 18.33%. Marvell Technology’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same period last year, the business posted $0.17 EPS. On average, equities analysts predict that Marvell Technology, Inc. will post 0.75 EPS for the current year.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, July 12th. This represents a $0.24 dividend on an annualized basis and a yield of 0.35%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $73.42, for a total transaction of $367,100.00. Following the sale, the executive vice president now owns 115,318 shares in the company, valued at approximately $8,466,647.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $73.42, for a total transaction of $367,100.00. Following the completion of the transaction, the executive vice president now owns 115,318 shares in the company, valued at approximately $8,466,647.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $70.07, for a total transaction of $175,175.00. Following the completion of the sale, the executive vice president now owns 20,450 shares in the company, valued at $1,432,931.50. The disclosure for this sale can be found here. Insiders sold 64,000 shares of company stock valued at $4,772,495 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MRVL. Jefferies Financial Group started coverage on shares of Marvell Technology in a report on Monday, May 13th. They set a “buy” rating and a $85.00 price objective on the stock. KeyCorp raised their price target on shares of Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Needham & Company LLC reissued a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a report on Friday, May 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price target on shares of Marvell Technology in a research note on Friday, May 31st. Finally, Barclays raised their price objective on Marvell Technology from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $85.50.

Marvell Technology Company 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.