Geneva Capital Management LLC Sells 2,329 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Geneva Capital Management LLC cut its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,944 shares of the semiconductor company’s stock after selling 2,329 shares during the period. Geneva Capital Management LLC’s holdings in Marvell Technology were worth $3,186,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in MRVL. Bruce G. Allen Investments LLC grew its stake in 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. Trueblood Wealth Management LLC lifted its stake in shares of Marvell Technology by 3.2% during the first quarter. Trueblood Wealth Management LLC now owns 4,944 shares of the semiconductor company’s stock worth $350,000 after buying an additional 152 shares during the period. SJS Investment Consulting Inc. grew its holdings in shares of Marvell Technology by 56.8% during the fourth quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 155 shares during the last quarter. Blue Trust Inc. increased its position in shares of Marvell Technology by 23.4% in the 4th quarter. Blue Trust Inc. now owns 817 shares of the semiconductor company’s stock valued at $45,000 after acquiring an additional 155 shares during the period. Finally, Versant Capital Management Inc raised its stake in Marvell Technology by 34.7% in the 4th quarter. Versant Capital Management Inc now owns 625 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 161 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on MRVL shares. Barclays boosted their price target on Marvell Technology from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, May 31st. Stifel Nicolaus raised their price target on shares of Marvell Technology from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. KeyCorp lifted their price objective on shares of Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a report on Friday, May 31st. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and a consensus target price of $85.24.

Marvell Technology Price Performance

Shares of NASDAQ MRVL traded down $2.70 during mid-day trading on Thursday, reaching $72.18. The company’s stock had a trading volume of 11,489,674 shares, compared to its average volume of 12,796,995. The stock has a 50-day moving average of $71.37 and a two-hundred day moving average of $69.18. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.24 and a current ratio of 1.80. The stock has a market capitalization of $62.48 billion, a P/E ratio of -65.58, a P/E/G ratio of 3.55 and a beta of 1.47. Marvell Technology, Inc. has a 1-year low of $46.07 and a 1-year high of $85.76.

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

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Friday, July 12th. Marvell Technology’s dividend payout ratio (DPR) is currently -21.24%.

Insider Buying and Selling at Marvell Technology

In other news, CEO Matthew J. Murphy sold 30,000 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $68.82, for a total transaction of $2,064,600.00. Following the transaction, the chief executive officer now owns 716,545 shares of the company’s stock, valued at approximately $49,312,626.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $71.25, for a total value of $356,250.00. Following the completion of the transaction, the executive vice president now directly owns 109,117 shares in the company, valued at $7,774,586.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology stock in a transaction on Monday, April 15th. The shares were sold at an average price of $68.82, for a total value of $2,064,600.00. Following the completion of the sale, the chief executive officer now owns 716,545 shares in the company, valued at approximately $49,312,626.90. The disclosure for this sale can be found here. Insiders sold a total of 131,000 shares of company stock worth $9,357,740 in the last three months. 0.33% of the stock is owned by corporate insiders.

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.