MUFG Securities EMEA plc Buys Shares of 350,000 Marvell Technology, Inc. (NASDAQ:MRVL)

MUFG Securities EMEA plc bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the second quarter, Holdings Channel.com reports. The firm bought 350,000 shares of the semiconductor company’s stock, valued at approximately $24,465,000. Marvell Technology makes up about 1.1% of MUFG Securities EMEA plc’s holdings, making the stock its 24th biggest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC lifted its stake in Marvell Technology by 56.4% in the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 141 shares during the last quarter. Salomon & Ludwin LLC bought a new stake in shares of Marvell Technology during the first quarter valued at about $31,000. Optimum Investment Advisors bought a new stake in shares of Marvell Technology during the first quarter valued at about $35,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Marvell Technology during the first quarter valued at about $35,000. Finally, Bogart Wealth LLC raised its stake in shares of Marvell Technology by 1,480.0% during the first quarter. Bogart Wealth LLC now owns 632 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 592 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $73.42, for a total transaction of $367,100.00. Following the completion of the sale, the executive vice president now owns 115,318 shares of the company’s stock, valued at $8,466,647.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $73.42, for a total transaction of $367,100.00. Following the completion of the sale, the executive vice president now owns 115,318 shares of the company’s stock, valued at $8,466,647.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Durn bought 1,425 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were bought at an average cost of $70.21 per share, with a total value of $100,049.25. Following the transaction, the director now directly owns 1,923 shares of the company’s stock, valued at $135,013.83. The disclosure for this purchase can be found here. In the last quarter, insiders sold 65,500 shares of company stock valued at $4,872,620. 0.33% of the stock is owned by corporate insiders.

Marvell Technology Trading Up 9.2 %

NASDAQ MRVL traded up $6.40 on Friday, hitting $76.24. 32,029,839 shares of the company were exchanged, compared to its average volume of 11,409,110. The firm has a market capitalization of $65.99 billion, a P/E ratio of -67.47, a price-to-earnings-growth ratio of 3.61 and a beta of 1.47. The company’s 50 day moving average price is $67.95 and its 200-day moving average price is $69.47. Marvell Technology, Inc. has a twelve month low of $46.07 and a twelve month high of $85.76. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.80 and a quick ratio of 1.24.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Marvell Technology had a positive return on equity of 4.26% and a negative net margin of 18.30%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 EPS. Analysts predict that Marvell Technology, Inc. will post 0.75 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 12th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, July 12th. This represents a $0.24 annualized dividend and a dividend yield of 0.31%. Marvell Technology’s payout ratio is -21.24%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MRVL shares. Rosenblatt Securities lifted their price objective on shares of Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Friday. Stifel Nicolaus restated a “buy” rating and set a $95.00 price objective (up from $90.00) on shares of Marvell Technology in a research note on Friday. Bank of America lifted their price objective on shares of Marvell Technology from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Friday. Jefferies Financial Group initiated coverage on shares of Marvell Technology in a research note on Monday, May 13th. They set a “buy” rating and a $85.00 price objective on the stock. Finally, The Goldman Sachs Group lifted their target price on Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average target price of $91.62.

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.