Migdal Insurance & Financial Holdings Ltd. Has $102,000 Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 22.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,485 shares of the semiconductor company’s stock after purchasing an additional 268 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Marvell Technology were worth $102,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Marvell Technology by 0.6% during the first quarter. Vanguard Group Inc. now owns 72,810,448 shares of the semiconductor company’s stock valued at $5,160,805,000 after purchasing an additional 468,086 shares in the last quarter. Capital Research Global Investors boosted its position in Marvell Technology by 0.5% in the fourth 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 during the last quarter. Matrix Capital Management Company LP grew 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 valued at $907,997,000 after purchasing an additional 1,888,676 shares during the period. Brown Advisory Inc. increased its position in shares of Marvell Technology by 25.9% during the 4th 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 last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Marvell Technology by 13.4% during 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 during the period. Institutional investors own 83.51% of the company’s stock.

Insiders Place Their Bets

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 value 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 legal filing with the SEC, which can be accessed through this link. In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $73.42, for a total value of $367,100.00. Following the completion of the sale, the executive vice president now directly owns 115,318 shares of the company’s stock, valued at $8,466,647.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel Durn purchased 1,425 shares of the business’s stock in a transaction on Monday, June 24th. The shares were acquired at an average price of $70.21 per share, with a total value of $100,049.25. Following the completion of the transaction, the director now owns 1,923 shares of the company’s stock, valued at $135,013.83. The disclosure for this purchase can be found here. Insiders sold a total of 65,500 shares of company stock valued at $4,872,620 over the last 90 days. Insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL traded up $1.40 on Thursday, hitting $69.84. The company’s stock had a trading volume of 16,405,096 shares, compared to its average volume of 12,460,147. The company has a market capitalization of $60.45 billion, a PE ratio of -63.04, a PEG ratio of 2.99 and a beta of 1.47. 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 company has a 50-day simple moving average of $67.93 and a 200 day simple moving average of $69.42. Marvell Technology, Inc. has a 1 year low of $46.07 and a 1 year high of $85.76.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. Marvell Technology had a negative net margin of 18.33% and a positive return on equity of 4.51%. Marvell Technology’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.18 earnings per share. Sell-side analysts forecast that Marvell Technology, Inc. will post 0.75 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently declared 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 was Friday, July 12th. This represents a $0.24 dividend on an annualized basis and a yield of 0.34%. Marvell Technology’s payout ratio is -21.24%.

Wall Street Analyst Weigh In

MRVL has been the subject of a number of research analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price objective on shares of Marvell Technology in a report on Friday, May 31st. Needham & Company LLC restated a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research note on Friday, May 31st. Stifel Nicolaus increased their price target on Marvell Technology from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Oppenheimer restated an “outperform” rating and issued a $90.00 price objective (up from $80.00) on shares of Marvell Technology in a research note on Friday, May 31st. Finally, Barclays lifted 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 investment analyst has rated the stock with a sell rating, one has issued a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.05.

About Marvell Technology

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.