Quest Partners LLC Increases Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Quest Partners LLC increased its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1,181.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,128 shares of the semiconductor company’s stock after buying an additional 1,040 shares during the quarter. Quest Partners LLC’s holdings in Marvell Technology were worth $79,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MRVL. Janney Montgomery Scott LLC increased its stake in Marvell Technology by 27.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 42,090 shares of the semiconductor company’s stock valued at $2,539,000 after buying an additional 8,938 shares during the period. Level Four Advisory Services LLC raised its holdings in Marvell Technology by 15.7% during the fourth quarter. Level Four Advisory Services LLC now owns 8,219 shares of the semiconductor company’s stock worth $496,000 after purchasing an additional 1,116 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Marvell Technology by 8.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 95,589 shares of the semiconductor company’s stock valued at $5,765,000 after purchasing an additional 7,627 shares during the period. Independent Advisor Alliance boosted its holdings in Marvell Technology by 18.3% in the 4th quarter. Independent Advisor Alliance now owns 12,890 shares of the semiconductor company’s stock valued at $777,000 after purchasing an additional 1,995 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Marvell Technology by 5.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 60,016 shares of the semiconductor company’s stock worth $3,620,000 after purchasing an additional 3,109 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Stock Performance

Marvell Technology stock opened at $72.77 on Wednesday. The stock has a fifty day moving average price of $68.23 and a 200 day moving average price of $69.80. Marvell Technology, Inc. has a 52 week low of $46.07 and a 52 week high of $85.76. The firm has a market capitalization of $62.99 billion, a P/E ratio of -64.40, a PEG 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 (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share 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 period in the prior year, the firm posted $0.18 EPS. The company’s revenue was down 5.1% on a year-over-year basis. Equities research analysts anticipate that Marvell Technology, Inc. will post 0.77 earnings per share for the current year.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be given 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 of this dividend is Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

Wall Street Analyst Weigh In

MRVL has been the subject of several recent analyst reports. Bank of America raised their price target on Marvell Technology from $85.00 to $90.00 and gave the company a “buy” rating in a report on Friday, August 30th. TD Cowen raised Marvell Technology to a “strong-buy” rating in a report on Monday. B. Riley upped their target price on shares of Marvell Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Roth Mkm reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. Finally, Oppenheimer reiterated an “outperform” rating and set a $90.00 target price (up from $80.00) on shares of Marvell Technology in a research report on Friday, May 31st. Two investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $91.62.

Insiders Place Their Bets

In other news, EVP Chris Koopmans sold 5,000 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $73.88, for a total value of $369,400.00. Following the transaction, the executive vice president now owns 110,318 shares of the company’s stock, valued at approximately $8,150,293.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Chris Koopmans sold 5,000 shares of the firm’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 directly owns 110,318 shares in the company, valued at approximately $8,150,293.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’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 value of $100,125.00. Following the completion of the transaction, the chief financial officer now 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 160,000 shares of company stock worth $11,878,785 over the last three months. 0.33% of the stock is owned by 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.