Lmcg Investments LLC Raises Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Lmcg Investments LLC boosted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 13.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 115,980 shares of the semiconductor company’s stock after acquiring an additional 13,598 shares during the period. Lmcg Investments LLC’s holdings in Marvell Technology were worth $8,107,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MRVL. Bruce G. Allen Investments LLC raised its stake in Marvell Technology by 56.4% in the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 141 shares during the period. Salomon & Ludwin LLC bought a new stake in Marvell Technology in the 1st quarter valued at about $31,000. Optimum Investment Advisors bought a new stake in Marvell Technology in the 1st quarter valued at about $35,000. Mark Sheptoff Financial Planning LLC bought a new stake in Marvell Technology in the 1st quarter valued at about $35,000. Finally, Bogart Wealth LLC raised its stake in Marvell Technology by 1,480.0% in the 1st quarter. Bogart Wealth LLC now owns 632 shares of the semiconductor company’s stock valued at $45,000 after acquiring an additional 592 shares during the period. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Stock Down 1.5 %

Shares of MRVL opened at $73.40 on Tuesday. The firm has a market cap of $63.54 billion, a P/E ratio of -64.96, a P/E/G ratio of 3.29 and a beta of 1.46. Marvell Technology, Inc. has a 1 year low of $46.07 and a 1 year high of $85.76. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. The stock has a 50 day simple moving average of $68.26 and a two-hundred day simple moving average of $69.79.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 earnings per share. On average, analysts forecast that Marvell Technology, Inc. will post 0.77 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Evercore ISI boosted their price objective on Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Barclays upped their price target on Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Bank of America upped their price target on Marvell Technology from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, August 30th. The Goldman Sachs Group upped their price target on Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, KeyCorp upped their price target on Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average price target of $91.62.

Insider Activity

In other news, Director Ford Tamer sold 92,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $74.16, for a total transaction of $6,822,720.00. Following the completion of the sale, the director now owns 351,193 shares of the company’s stock, valued at $26,044,472.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Muhammad Raghib Hussain sold 50,000 shares of the company’s 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 completion of the transaction, the insider now owns 838,571 shares in the company, valued at $62,892,825. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ford Tamer sold 92,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $74.16, for a total value of $6,822,720.00. Following the transaction, the director now owns 351,193 shares of the company’s stock, valued at approximately $26,044,472.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 152,500 shares of company stock valued at $11,328,240. 0.33% of the stock is currently owned by company insiders.

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.