MJP Associates Inc. ADV grew its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 187.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,530 shares of the semiconductor company's stock after purchasing an additional 15,343 shares during the period. MJP Associates Inc. ADV's holdings in Marvell Technology were worth $1,645,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in MRVL. Congress Park Capital LLC bought a new position in shares of Marvell Technology in the 2nd quarter worth $224,000. Wolff Wiese Magana LLC lifted its stake in shares of Marvell Technology by 1.1% in the second quarter. Wolff Wiese Magana LLC now owns 20,039 shares of the semiconductor company's stock valued at $1,401,000 after buying an additional 217 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Marvell Technology in the second quarter valued at $84,000. QRG Capital Management Inc. grew its holdings in shares of Marvell Technology by 10.4% during the second quarter. QRG Capital Management Inc. now owns 31,839 shares of the semiconductor company's stock valued at $2,226,000 after buying an additional 3,002 shares during the last quarter. Finally, Sax Wealth Advisors LLC bought a new stake in shares of Marvell Technology during the second quarter worth about $443,000. Institutional investors own 83.51% of the company's stock.
Insider Transactions at Marvell Technology
In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the firm's stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $73.88, for a total value of $369,400.00. Following the completion of the transaction, the executive vice president now owns 110,318 shares in the company, valued at approximately $8,150,293.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Willem A. Meintjes sold 1,500 shares of the company's stock in a transaction on Monday, July 15th. The shares were sold at an average price of $73.88, for a total value of $110,820.00. Following the transaction, the chief financial officer now owns 109,318 shares of the company's stock, valued at $8,076,413.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Chris Koopmans sold 5,000 shares of Marvell Technology stock in a transaction on Monday, July 15th. The shares were sold at an average price of $73.88, for a total value of $369,400.00. Following the sale, the executive vice president now directly owns 110,318 shares of the company's stock, valued at approximately $8,150,293.84. The disclosure for this sale can be found here. Insiders sold 99,000 shares of company stock valued at $7,190,745 over the last three months. Company insiders own 0.33% of the company's stock.
Analyst Ratings Changes
A number of research firms have issued reports on MRVL. Morgan Stanley lifted their price target on Marvell Technology from $71.00 to $77.00 and gave the company an "equal weight" rating in a research note on Friday, May 31st. Needham & Company LLC reaffirmed a "buy" rating and set a $95.00 target price on shares of Marvell Technology in a research report on Friday, May 31st. KeyCorp upped their price target on Marvell Technology from $90.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday, July 9th. Stifel Nicolaus raised their price objective on Marvell Technology from $86.00 to $90.00 and gave the company a "buy" rating in a research note on Friday, May 31st. Finally, Barclays upped their target price on shares of Marvell Technology from $75.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, May 31st. One 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 MarketBeat.com, Marvell Technology currently has an average rating of "Moderate Buy" and a consensus price target of $85.50.
Get Our Latest Stock Report on MRVL
Marvell Technology Stock Performance
Shares of NASDAQ MRVL traded down $0.60 during trading on Friday, reaching $60.56. 7,720,144 shares of the stock traded hands, compared to its average volume of 12,616,386. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.80 and a quick ratio of 1.24. The stock has a market capitalization of $52.42 billion, a P/E ratio of -53.59, a price-to-earnings-growth ratio of 2.99 and a beta of 1.47. Marvell Technology, Inc. has a 52-week low of $46.07 and a 52-week high of $85.76. The company has a 50-day moving average of $68.56 and a 200-day moving average of $69.46.
Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its earnings results on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share for the quarter, hitting analysts' consensus estimates of $0.24. Marvell Technology had a negative net margin of 18.33% and a positive return on equity of 4.51%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business earned $0.17 earnings per share. The company's quarterly revenue was down 12.2% on a year-over-year basis. Analysts forecast that Marvell Technology, Inc. will post 0.75 EPS for the current fiscal year.
Marvell Technology Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, July 12th. This represents a $0.24 annualized dividend and a dividend yield of 0.40%. Marvell Technology's dividend payout ratio is currently -21.24%.
Marvell Technology Company Profile
(Free Report)
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.
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