Signaturefd LLC Increases Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Signaturefd LLC lifted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 7.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 11,458 shares of the semiconductor company’s stock after buying an additional 755 shares during the period. Signaturefd LLC’s holdings in Marvell Technology were worth $801,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. 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 shares of Marvell Technology by 0.5% during 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 during the period. Matrix Capital Management Company LP lifted its stake in shares of Marvell Technology by 14.3% during 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 during the period. Brown Advisory Inc. lifted its stake 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 worth $890,475,000 after purchasing an additional 3,036,495 shares during the period. Finally, Janus Henderson Group PLC lifted 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. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $66.75, for a total transaction of $100,125.00. Following the sale, the chief financial officer now owns 113,253 shares of the company’s stock, valued at $7,559,637.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $66.75, for a total transaction of $100,125.00. Following the transaction, the chief financial officer now owns 113,253 shares in the company, valued at $7,559,637.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was 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 in the company, valued at approximately $8,150,293.84. The disclosure for this sale can be found here. Insiders have sold 65,500 shares of company stock valued at $4,872,620 over the last quarter. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MRVL. StockNews.com lowered Marvell Technology from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Evercore ISI upped their price objective on Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a report 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 report on Friday. Jefferies Financial Group started coverage on Marvell Technology in a report on Monday, May 13th. They set a “buy” rating and a $85.00 price objective for the company. Finally, The Goldman Sachs Group upped their price objective 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 given a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $91.62.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $76.24 on Friday. 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, Inc. has a one year low of $46.07 and a one year high of $85.76. The company’s 50-day simple moving average is $67.95 and its 200-day simple moving average is $69.46. The stock has a market capitalization of $65.99 billion, a price-to-earnings ratio of -67.47, a PEG ratio of 2.99 and a beta of 1.47.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. Marvell Technology had a negative net margin of 18.33% and a positive return on equity of 4.51%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the company posted $0.18 earnings per share. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. Equities analysts anticipate that Marvell Technology, Inc. will post 0.75 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th were issued 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 0.31%. Marvell Technology’s dividend payout ratio is currently -21.24%.

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.