Vaughan Nelson Investment Management L.P. Has $50.20 Million Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Vaughan Nelson Investment Management L.P. decreased its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 9.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 708,225 shares of the semiconductor company’s stock after selling 78,032 shares during the quarter. Vaughan Nelson Investment Management L.P. owned approximately 0.08% of Marvell Technology worth $50,199,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MRVL. SJS Investment Consulting Inc. boosted its stake in shares of Marvell Technology by 56.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 155 shares in the last quarter. Bruce G. Allen Investments LLC grew its stake in Marvell Technology by 56.4% during the first 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 increased 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 buying an additional 165 shares in the last quarter. Raleigh Capital Management Inc. raised its stake in shares of Marvell Technology by 532.3% in the third quarter. Raleigh Capital Management Inc. now owns 626 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 527 shares during the last quarter. Finally, Optimum Investment Advisors acquired a new position in shares of Marvell Technology in the 1st quarter worth approximately $35,000. 83.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MRVL shares. Jefferies Financial Group assumed coverage on Marvell Technology in a report on Monday, May 13th. They set a “buy” rating and a $85.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a research report on Friday, May 31st. TD Cowen raised their price objective on shares of Marvell Technology from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, March 8th. Roth Mkm reiterated a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research report on Friday, April 12th. Finally, Summit Insights raised shares of Marvell Technology from a “hold” rating to a “buy” rating in a report on Friday, March 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Insider Buying and Selling at Marvell Technology

In related news, Director Daniel Durn acquired 1,425 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were bought at an average price of $70.21 per share, for a total transaction of $100,049.25. Following the purchase, the director now directly owns 1,923 shares in the company, valued at approximately $135,013.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Daniel Durn acquired 1,425 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was bought at an average price of $70.21 per share, with a total value of $100,049.25. Following the transaction, the director now directly owns 1,923 shares in the company, valued at approximately $135,013.83. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $71.25, for a total transaction of $356,250.00. Following the completion of the sale, the executive vice president now directly owns 109,117 shares in the company, valued at $7,774,586.25. The disclosure for this sale can be found here. Insiders sold a total of 78,500 shares of company stock worth $5,432,565 over the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Marvell Technology Trading Down 0.6 %

MRVL stock traded down $0.43 during midday trading on Tuesday, hitting $70.57. 583,743 shares of the company’s stock were exchanged, compared to its average volume of 12,932,799. Marvell Technology, Inc. has a one year low of $46.07 and a one year high of $85.76. The stock’s fifty day moving average price is $70.42 and its 200-day moving average price is $68.58. The company has a market cap of $61.09 billion, a PE ratio of -62.83, a price-to-earnings-growth ratio of 3.31 and a beta of 1.47. 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 (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, meeting the consensus estimate 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 analyst estimates of $1.15 billion. During the same period in the previous year, the business earned $0.17 EPS. The company’s revenue was down 12.2% compared to the same quarter last year. Research analysts predict that Marvell Technology, Inc. will post 0.75 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 12th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $0.24 annualized dividend and a yield of 0.34%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

Marvell Technology announced that its board has authorized a stock buyback program on Thursday, March 7th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the semiconductor company to purchase up to 4.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

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.