Quadrant Capital Group LLC Boosts Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Quadrant Capital Group LLC lifted its position in Marvell Technology, Inc. (NASDAQ:MRVL – Get Rating) by 12.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,059 shares of the semiconductor company’s stock after purchasing an additional 328 shares during the quarter. Quadrant Capital Group LLC’s holdings in Marvell Technology were worth $220,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in Marvell Technology in the fourth quarter valued at $651,354,000. Invesco Ltd. raised its position in Marvell Technology by 79.7% during the fourth quarter. Invesco Ltd. now owns 6,314,046 shares of the semiconductor company’s stock valued at $552,416,000 after acquiring an additional 2,801,069 shares in the last quarter. BlackRock Inc. lifted its holdings in Marvell Technology by 3.4% in the fourth quarter. BlackRock Inc. now owns 70,754,622 shares of the semiconductor company’s stock valued at $6,190,323,000 after acquiring an additional 2,305,751 shares during the period. 1832 Asset Management L.P. boosted its position in Marvell Technology by 33,516.7% in the 4th quarter. 1832 Asset Management L.P. now owns 1,957,500 shares of the semiconductor company’s stock worth $170,935,000 after purchasing an additional 1,951,677 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Marvell Technology by 83.2% during the 4th quarter. American Century Companies Inc. now owns 3,939,238 shares of the semiconductor company’s stock worth $344,644,000 after purchasing an additional 1,789,008 shares during the period. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Marvell Technology Stock Down 0.7 %

Shares of MRVL opened at $56.94 on Friday. The company’s 50-day moving average price is $50.91 and its 200 day moving average price is $60.20. Marvell Technology, Inc. has a 12-month low of $41.07 and a 12-month high of $93.85. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.13 and a current ratio of 1.67.

Marvell Technology (NASDAQ:MRVL – Get Rating) last released its quarterly earnings results on Thursday, May 26th. The semiconductor company reported $0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.37. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.43 billion. Marvell Technology had a negative net margin of 9.82% and a positive return on equity of 6.92%. The business’s revenue was up 73.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.15 EPS. Equities research analysts expect that Marvell Technology, Inc. will post 1.69 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 27th. Investors of record on Friday, July 8th were issued a $0.06 dividend. The ex-dividend date was Thursday, July 7th. This represents a $0.24 annualized dividend and a dividend yield of 0.42%. Marvell Technology’s dividend payout ratio is presently -39.34%.

Insider Buying and Selling

In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $60.10, for a total value of $1,803,000.00. Following the completion of the transaction, the chief executive officer now directly owns 672,052 shares of the company’s stock, valued at approximately $40,390,325.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $60.10, for a total transaction of $1,803,000.00. Following the sale, the chief executive officer now directly owns 672,052 shares in the company, valued at approximately $40,390,325.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Dan Christman sold 4,810 shares of the business’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $57.28, for a total transaction of $275,516.80. Following the completion of the transaction, the executive vice president now owns 108,393 shares of the company’s stock, valued at approximately $6,208,751.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,194 shares of company stock valued at $3,505,827. Corporate insiders own 0.45% of the company’s stock.

Wall Street Analyst Weigh In

MRVL has been the topic of several analyst reports. Susquehanna dropped their price target on shares of Marvell Technology from $105.00 to $90.00 in a research report on Wednesday, May 25th. Bank of America reduced their price target on Marvell Technology from $90.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, June 29th. StockNews.com lowered Marvell Technology from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. BMO Capital Markets reduced their target price on Marvell Technology from $98.00 to $82.00 in a research note on Friday, May 27th. Finally, Morgan Stanley cut their price target on shares of Marvell Technology from $68.00 to $62.00 and set an “equal weight” rating for the company in a report on Friday, June 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.41.

About Marvell Technology

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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.