Graham Capital Management LP buys new stake in Marvell Technology, Inc.  (NASDAQ:MRVL)


Graham Capital Management LP bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL – Free Report ) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 8,797 shares of the semiconductor company’s stock, valued at approximately $476,000.

A number of other institutional investors also recently bought and sold shares of the business. Synovus Financial Corp raised its holdings in Marvell Technology by 4.6% during the third quarter. Synovus Financial Corp now owns 4,237 shares of the semiconductor company’s stock worth $229,000 after purchasing an additional 185 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its holdings in Marvell Technology by 10.4% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 2,104 shares of the semiconductor company’s stock valued at $114,000 after purchasing an additional 198 shares during the last quarter. Trifecta Capital Advisors LLC raised its holdings in Marvell Technology by 17.7% during the third quarter. Trifecta Capital Advisors LLC now owns 1,499 shares of the semiconductor company’s stock valued at $81,000 after purchasing an additional 225 shares during the last quarter. Whittier Trust Co . boosted its holdings in Marvell Technology by 59.9% during the third quarter. Whittier Trust Co . now owns 603 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 226 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its holdings in Marvell Technology by 0.5% during the second quarter. Moneta Group Investment Advisors LLC now owns 51,594 shares of the semiconductor company’s stock worth $3,084,000 after buying an additional 239 shares during the last quarter. 83.32% of the shares are owned by hedge funds and other institutional investors.

Marvell Technology Awards Performance

Shares of MRVL opened at $66.87 on Friday. Marvell Technology, Inc. it has a one year low of $36.90 and a one year high of $85.76. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08, and a current ratio of 1.58. The stock’s 50-day moving average price is $69.37 and its 200-day moving average price is $59.77. The firm has a market cap of $57.81 billion, a P/E ratio of -61.92, a PEG ratio of 4.69 and a beta of 1.51.

Marvell Technology (NASDAQ:MRVL – Get Your Free Report ) last released its earnings results on Thursday, March 7th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.46. Marvell Technology had a positive return on equity of 4.92% and a negative net margin of 16.95%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter a year ago, the company earned $0.34 EPS. Marvell Technology’s revenue rose 0.6% year over year. On average, sell-side analysts expect that Marvell Technology, Inc. will post 0.76 earnings per share for the current fiscal year.

Marvell Technology announces dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 12th will be paid a dividend of $0.06 per share. This represents a dividend of $0.24 on an annualized basis and a dividend yield of 0.36%. Marvell Technology’s dividend payout ratio is currently -22.22%.

Marvell Technology declared that its Board of Directors has authorized a stock repurchase program on Thursday, March 7th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 4.8% of its shares through open market purchases. Stock buyback programs are often a sign that a company’s management believes its stock is undervalued.

The Wall Street analyst weighs in

A number of analysts have recently commented on MRVL shares. Raymond James lifted their target price on Marvell Technology from $62.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. UBS Group lifted their target price on Marvell Technology from $70.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Needham & Company LLC reiterated a “buy” rating and set a $65.00 target price on shares of Marvell Technology in a research report on Friday, December 1st. Piper Sandler decreased their target price on Marvell Technology from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Friday, December 1st. Finally, Cantor Fitzgerald began coverage on Marvell Technology in a research report on Tuesday, January 23rd. They set an “overweight” rating and a $80.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and an average target price of $75.08.

Check out our latest Marvell Technology Report

Insider Transactions at Marvell Technology

In other news, Director Ford Tamer sold 30,000 shares of the firm’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $60.20, for a total transaction of $1,806,000.00. Following the sale, the director now owns 40,403 shares in the company, valued at $2,432,260.60. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which is available through the SEC’s website. In other news, EVP Chris Koopmans sold 5,000 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $65.26, for a total transaction of $326,300.00. Following the sale, the executive vice president now owns 124,117 shares in the company, valued at $8,099,875.42. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which is available through the SEC’s website. Also, Director Ford Tamer sold 30,000 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $60.20, for a total value of $1,806,000.00. Following the completion of the transaction, the director now directly owns 40,403 shares in the company, valued at $2,432,260.60. Disclosure for this sale can be found here. Insiders have sold 106,000 shares of company stock worth $6,838,240 over the last quarter. 0.45% of shares are currently owned by insiders.

Marvell Technology Profile

(Free Report)

Marvell Technology, Inc., together with its subsidiaries, provides semiconductor data infrastructure solutions, including the core of the data center to the edge of the network. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed and digital signal processing functionality.

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Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)



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