Cwm LLC Buys 5,601 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Cwm LLC grew its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 35.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,362 shares of the semiconductor company’s stock after purchasing an additional 5,601 shares during the quarter. Cwm LLC’s holdings in Marvell Technology were worth $1,493,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings 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 worth $5,160,805,000 after buying an additional 468,086 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Marvell Technology by 0.5% during the fourth quarter. Capital Research Global Investors now owns 35,791,266 shares of the semiconductor company’s stock valued at $2,158,601,000 after purchasing an additional 185,479 shares during the last quarter. Matrix Capital Management Company LP raised its holdings in shares of Marvell Technology by 14.3% during the fourth quarter. Matrix Capital Management Company LP now owns 15,055,500 shares of the semiconductor company’s stock valued at $907,997,000 after purchasing an additional 1,888,676 shares during the last quarter. Brown Advisory Inc. lifted its position in Marvell Technology by 25.9% during the fourth quarter. Brown Advisory Inc. now owns 14,764,957 shares of the semiconductor company’s stock valued at $890,475,000 after purchasing an additional 3,036,495 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in Marvell Technology by 13.4% in the first 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 during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, insider Muhammad Raghib Hussain sold 50,000 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the transaction, the insider now owns 838,571 shares in the company, valued at $62,892,825. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $68.57, for a total transaction of $342,850.00. Following the completion of the sale, the executive vice president now owns 119,719 shares of the company’s stock, valued at $8,209,131.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Muhammad Raghib Hussain sold 50,000 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $75.00, for a total value of $3,750,000.00. Following the completion of the transaction, the insider now owns 838,571 shares of the company’s stock, valued at $62,892,825. The disclosure for this sale can be found here. Over the last quarter, insiders sold 99,000 shares of company stock valued at $7,190,745. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

MRVL has been the subject of a number of research reports. Stifel Nicolaus boosted their target price on shares of Marvell Technology from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 price objective on shares of Marvell Technology in a research report on Friday, May 31st. StockNews.com cut Marvell Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Morgan Stanley upped their price target on shares of Marvell Technology from $71.00 to $77.00 and gave the company an “equal weight” rating in a research report on Friday, May 31st. Finally, B. Riley raised their price objective on shares of Marvell Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $85.50.

Marvell Technology Stock Down 1.2 %

MRVL traded down $0.72 on Friday, hitting $60.44. The company had a trading volume of 1,946,583 shares, compared to its average volume of 12,578,653. The stock has a market capitalization of $52.32 billion, a price-to-earnings ratio of -54.12, a P/E/G ratio of 2.99 and a beta of 1.47. The stock has a fifty day moving average price of $68.73 and a 200-day moving average price of $69.55. Marvell Technology, Inc. has a 12-month low of $46.07 and a 12-month high of $85.76. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.24 and a current ratio of 1.80.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Marvell Technology had a positive return on equity of 4.51% and a negative net margin of 18.33%. The firm’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.17 EPS. Analysts predict that Marvell Technology, Inc. will post 0.75 EPS 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 given a dividend of $0.06 per share. The ex-dividend date was Friday, July 12th. This represents a $0.24 annualized dividend and a yield of 0.40%. Marvell Technology’s dividend payout ratio is presently -21.24%.

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.