D1 Capital Partners L.P. Takes $108.20 Million Position in Marvell Technology, Inc. (NASDAQ:MRVL)

D1 Capital Partners L.P. acquired a new position in Marvell Technology, Inc. (NASDAQ:MRVL) during the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 1,547,987 shares of the semiconductor company’s stock, valued at approximately $108,204,000. Marvell Technology accounts for about 1.8% of D1 Capital Partners L.P.’s portfolio, making the stock its 21st biggest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Diversified Trust Co acquired a new position in Marvell Technology in the second quarter worth approximately $932,000. Orion Portfolio Solutions LLC boosted its position in shares of Marvell Technology by 47.1% in 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 period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Marvell Technology by 20.2% in the 1st 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. Westwood Holdings Group Inc. acquired a new stake in Marvell Technology during the 1st quarter worth about $6,985,000. Finally, US Bancorp DE lifted its stake in Marvell Technology by 8.6% during the fourth quarter. US Bancorp DE now owns 185,347 shares of the semiconductor company’s stock valued at $11,178,000 after buying an additional 14,651 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MRVL has been the topic of several analyst reports. Roth Mkm reissued a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th. Morgan Stanley raised their target price on Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. Oppenheimer reaffirmed an “outperform” rating and set a $90.00 target price (up previously from $80.00) on shares of Marvell Technology in a research note on Friday, May 31st. Finally, Needham & Company LLC restated a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a report on Friday, August 30th. Two investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and an average target price of $91.62.

Marvell Technology Trading Down 1.3 %

Shares of MRVL stock opened at $73.87 on Monday. The business’s 50 day moving average is $68.20 and its two-hundred day moving average is $69.63. The company has a quick ratio of 1.26, a current ratio of 1.79 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. The company has a market cap of $63.94 billion, a PE ratio of -65.37, a price-to-earnings-growth ratio of 3.29 and a beta of 1.46.

Marvell Technology (NASDAQ:MRVL) last released its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, hitting 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 negative net margin of 18.30% and a positive return on equity of 4.31%. The business’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 EPS. Equities analysts predict that Marvell Technology, Inc. will post 0.77 EPS for the current year.

Marvell Technology Announces Dividend

The firm 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 $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.32%. The ex-dividend date is Friday, October 11th. Marvell Technology’s dividend payout ratio is currently -21.24%.

Insider Transactions at Marvell Technology

In other news, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $70.07, for a total value of $175,175.00. Following the sale, the executive vice president now owns 20,450 shares in the company, valued at $1,432,931.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $73.87, for a total value of $110,805.00. Following the completion of the transaction, the chief financial officer now owns 111,753 shares in the company, valued at approximately $8,255,194.11. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $70.07, for a total transaction of $175,175.00. Following the sale, the executive vice president now owns 20,450 shares in the company, valued at $1,432,931.50. The disclosure for this sale can be found here. Insiders sold a total of 160,000 shares of company stock worth $11,878,785 over the last three months. 0.33% of the stock is currently owned by insiders.

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.