13,011 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Acquired by Bayesian Capital Management LP

Bayesian Capital Management LP purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 13,011 shares of the semiconductor company’s stock, valued at approximately $922,000.

Other hedge funds have also added to or reduced their stakes in the company. Bruce G. Allen Investments LLC lifted its stake in shares of Marvell Technology by 56.4% during the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after buying an additional 141 shares during the last quarter. Oliver Lagore Vanvalin Investment Group boosted its holdings in shares of Marvell Technology by 46.2% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 165 shares during the period. Salomon & Ludwin LLC acquired a new position in shares of Marvell Technology in the first quarter valued at approximately $31,000. Optimum Investment Advisors bought a new position in shares of Marvell Technology during the first quarter worth approximately $35,000. Finally, Mark Sheptoff Financial Planning LLC bought a new position in shares of Marvell Technology during the first quarter worth approximately $35,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Trading Up 4.7 %

Shares of Marvell Technology stock traded up $2.98 during midday trading on Wednesday, reaching $65.78. The company had a trading volume of 513,514 shares, compared to its average volume of 12,497,926. The firm has a market cap of $56.94 billion, a PE ratio of -55.58, a P/E/G ratio of 3.06 and a beta of 1.47. The stock has a fifty day moving average price of $70.94 and a 200 day moving average price of $69.92. 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, Inc. has a fifty-two week low of $46.07 and a fifty-two week high of $85.76.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.24. Marvell Technology had a negative net margin of 18.33% and a positive return on equity of 4.51%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the company earned $0.17 EPS. The company’s revenue for the quarter was down 12.2% on a year-over-year basis. On average, equities analysts anticipate that Marvell Technology, Inc. will post 0.75 earnings per share for the current year.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 12th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend is Friday, July 12th. Marvell Technology’s dividend payout ratio is -21.24%.

Insider Activity at Marvell Technology

In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $69.18, for a total value of $2,075,400.00. Following the completion of the sale, the chief executive officer now directly owns 686,545 shares in the company, valued at $47,495,183.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Chris Koopmans sold 5,000 shares of the 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 transaction, the executive vice president now owns 119,719 shares of the company’s stock, valued at approximately $8,209,131.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew J. Murphy sold 30,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $69.18, for a total value of $2,075,400.00. Following the completion of the sale, the chief executive officer now directly owns 686,545 shares of the company’s stock, valued at $47,495,183.10. The disclosure for this sale can be found here. Insiders have sold a total of 99,000 shares of company stock worth $7,190,745 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

MRVL has been the subject of several recent research reports. Jefferies Financial Group initiated coverage on Marvell Technology in a research note on Monday, May 13th. They issued a “buy” rating and a $85.00 price target for the company. B. Riley upped their price target on shares of Marvell Technology from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 31st. StockNews.com cut shares of Marvell Technology from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Needham & Company LLC restated a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research report on Friday, May 31st. Finally, Roth Mkm reaffirmed a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a report on Friday, April 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.50.

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.