Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by STF Management LP

STF Management LP reduced its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,780 shares of the semiconductor company’s stock after selling 657 shares during the quarter. STF Management LP’s holdings in Marvell Technology were worth $963,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Marvell Technology by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 72,810,448 shares of the semiconductor company’s stock valued at $5,160,805,000 after buying an additional 468,086 shares in the last quarter. Capital Research Global Investors lifted its stake in Marvell Technology by 0.5% in the 4th quarter. Capital Research Global Investors now owns 35,791,266 shares of the semiconductor company’s stock worth $2,158,601,000 after purchasing an additional 185,479 shares in the last quarter. Matrix Capital Management Company LP lifted its stake in Marvell Technology by 14.3% in the 4th quarter. Matrix Capital Management Company LP now owns 15,055,500 shares of the semiconductor company’s stock worth $907,997,000 after purchasing an additional 1,888,676 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Marvell Technology by 13.4% in the 1st quarter. Janus Henderson Group PLC now owns 13,478,472 shares of the semiconductor company’s stock worth $955,400,000 after purchasing an additional 1,591,874 shares in the last quarter. Finally, Norges Bank purchased a new position in Marvell Technology in the 4th quarter worth approximately $511,215,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Price Performance

Marvell Technology stock opened at $74.48 on Monday. The stock has a market cap of $66.00 billion, a P/E ratio of -65.91, a price-to-earnings-growth ratio of 3.29 and a beta of 1.46. The company has a fifty day simple moving average of $68.26 and a 200-day simple moving average of $69.79. Marvell Technology, Inc. has a 12-month low of $46.07 and a 12-month high of $85.76. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, hitting 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 negative net margin of 18.30% and a positive return on equity of 4.31%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 EPS. Equities analysts expect that Marvell Technology, Inc. will post 0.77 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 12th were given a $0.06 dividend. 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 0.32%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Oppenheimer reissued an “outperform” rating and issued a $90.00 target price (up from $80.00) on shares of Marvell Technology in a research note on Friday, May 31st. Morgan Stanley raised their price target on shares of Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. Roth Mkm restated a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a report on Friday, August 30th. StockNews.com downgraded shares of Marvell Technology from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. Finally, Evercore ISI lifted their target price on shares of Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus price target of $91.62.

Insider Activity at Marvell Technology

In related news, EVP Chris Koopmans sold 5,000 shares of the business’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 $369,400.00. Following the completion of the sale, the executive vice president now directly owns 110,318 shares of the company’s stock, valued at $8,150,293.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Muhammad Raghib Hussain sold 50,000 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $75.00, for a total value of $3,750,000.00. Following the completion of the sale, the insider now directly owns 838,571 shares of the company’s stock, valued at $62,892,825. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 transaction of $369,400.00. Following the completion of the transaction, the executive vice president now owns 110,318 shares in the company, valued at $8,150,293.84. The disclosure for this sale can be found here. Insiders sold a total of 60,500 shares of company stock valued at $4,505,520 over the last ninety days. Insiders own 0.33% of the company’s stock.

Marvell Technology 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.