Marvell Technology, Inc. (NASDAQ:MRVL) Stock Position Raised by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. grew its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 12.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 97,520 shares of the semiconductor company’s stock after purchasing an additional 11,030 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Marvell Technology were worth $6,817,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Diversified Trust Co bought a new position in shares of Marvell Technology in the second quarter worth about $932,000. Orion Portfolio Solutions LLC lifted its holdings in Marvell Technology by 47.1% during the 1st quarter. Orion Portfolio Solutions LLC now owns 32,191 shares of the semiconductor company’s stock valued at $2,282,000 after purchasing an additional 10,306 shares during the last quarter. Hoylecohen LLC acquired a new position in shares of Marvell Technology in the 4th quarter worth approximately $658,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Marvell Technology by 20.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 529,127 shares of the semiconductor company’s stock worth $37,505,000 after purchasing an additional 88,918 shares in the last quarter. Finally, Westwood Holdings Group Inc. bought a new stake in Marvell Technology during the 1st quarter worth about $6,985,000. Institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

MRVL has been the subject of several research reports. Needham & Company LLC reissued a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Oppenheimer reissued an “outperform” rating and set a $90.00 price target (up from $80.00) on shares of Marvell Technology in a research report on Friday, May 31st. B. Riley increased their target price on Marvell Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Morgan Stanley increased their target price on Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. Finally, Rosenblatt Securities lifted their price target on shares of Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 30th. 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $91.62.

Marvell Technology Stock Up 0.2 %

Shares of MRVL opened at $74.48 on Monday. The firm’s 50 day moving average is $68.26 and its 200-day moving average is $69.77. The stock has a market capitalization of $66.00 billion, a PE ratio of -65.91, a P/E/G ratio of 3.29 and a beta of 1.46. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. Marvell Technology, Inc. has a 12 month low of $46.07 and a 12 month high of $85.76.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the business posted $0.18 EPS. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. Equities research analysts forecast that Marvell Technology, Inc. will post 0.77 EPS for the current year.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 12th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend was Friday, July 12th. Marvell Technology’s dividend payout ratio is -21.24%.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $66.75, for a total value of $100,125.00. Following the completion of the transaction, the chief financial officer now directly owns 113,253 shares in the company, valued at approximately $7,559,637.75. 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 company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $73.88, for a total transaction of $369,400.00. Following the sale, the executive vice president now owns 110,318 shares in the company, valued at approximately $8,150,293.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $66.75, for a total transaction of $100,125.00. Following the sale, the chief financial officer now directly owns 113,253 shares of the company’s stock, valued at approximately $7,559,637.75. The disclosure for this sale can be found here. Insiders sold a total of 60,500 shares of company stock valued at $4,505,520 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

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.