Samlyn Capital LLC Invests $47.55 Million in Marvell Technology, Inc. (NASDAQ:MRVL)

Samlyn Capital LLC bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 680,308 shares of the semiconductor company’s stock, valued at approximately $47,554,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Tlwm lifted its stake in shares of Marvell Technology by 1.6% in the 2nd quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock valued at $601,000 after purchasing an additional 136 shares during the period. Bruce G. Allen Investments LLC lifted its stake in shares of Marvell Technology by 56.4% in the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 141 shares during the period. Trueblood Wealth Management LLC lifted its stake in shares of Marvell Technology by 3.2% in the 1st quarter. Trueblood Wealth Management LLC now owns 4,944 shares of the semiconductor company’s stock valued at $350,000 after purchasing an additional 152 shares during the period. Edmond DE Rothschild Holding S.A. lifted its stake in shares of Marvell Technology by 0.5% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 30,764 shares of the semiconductor company’s stock valued at $1,855,000 after purchasing an additional 162 shares during the period. Finally, Sheaff Brock Investment Advisors LLC lifted its stake in shares of Marvell Technology by 0.4% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 44,342 shares of the semiconductor company’s stock valued at $3,143,000 after purchasing an additional 168 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling

In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Monday, July 15th. The stock was sold at an average price of $73.88, for a total value of $110,820.00. Following the completion of the sale, the chief financial officer now owns 109,318 shares of the company’s stock, valued at $8,076,413.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business’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 $110,820.00. Following the completion of the sale, the chief financial officer now owns 109,318 shares of the company’s stock, valued at $8,076,413.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction dated 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 directly owns 20,450 shares of the company’s stock, valued at approximately $1,432,931.50. The disclosure for this sale can be found here. Insiders sold 160,000 shares of company stock valued at $11,878,785 over the last 90 days. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Needham & Company LLC restated a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Benchmark lifted their price objective on Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Rosenblatt Securities lifted their price objective on Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Evercore ISI lifted their price objective on Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Finally, Barclays lifted their price objective on Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. 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 stock. According to data from MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus target price of $91.62.

Marvell Technology Stock Performance

Shares of MRVL opened at $71.81 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. Marvell Technology, Inc. has a one year low of $46.07 and a one year high of $85.76. The firm has a market capitalization of $62.16 billion, a P/E ratio of -63.55, a PEG ratio of 3.29 and a beta of 1.46. The business has a fifty day moving average of $68.16 and a 200 day moving average of $69.54.

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

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Friday, October 11th. Marvell Technology’s payout ratio is currently -21.24%.

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.