DigitalBridge Group Inc. Purchases 451 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

DigitalBridge Group Inc. raised its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 0.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 327,105 shares of the semiconductor company’s stock after purchasing an additional 451 shares during the quarter. Marvell Technology accounts for about 2.0% of DigitalBridge Group Inc.’s investment portfolio, making the stock its 14th biggest position. DigitalBridge Group Inc.’s holdings in Marvell Technology were worth $22,865,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. increased its stake in Marvell Technology by 5.3% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 75,903 shares of the semiconductor company’s stock valued at $4,578,000 after acquiring an additional 3,800 shares during the period. Congress Wealth Management LLC DE bought a new stake in Marvell Technology during the fourth quarter worth about $566,000. Edmond DE Rothschild Holding S.A. grew its stake in Marvell Technology by 0.5% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 30,764 shares of the semiconductor company’s stock worth $1,855,000 after buying an additional 162 shares during the last quarter. Stifel Financial Corp grew its stake in shares of Marvell Technology by 12.1% during the fourth quarter. Stifel Financial Corp now owns 1,126,020 shares of the semiconductor company’s stock valued at $67,916,000 after purchasing an additional 121,980 shares during the last quarter. Finally, Focus Financial Network Inc. ADV bought a new stake in shares of Marvell Technology during the fourth quarter valued at approximately $1,487,000. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Trading Down 0.0 %

Shares of Marvell Technology stock opened at $71.18 on Thursday. The firm has a market capitalization of $63.08 billion, a PE ratio of -62.99, a price-to-earnings-growth ratio of 3.12 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. The firm’s 50 day moving average is $68.14 and its 200 day moving average is $69.52. Marvell Technology, Inc. has a 1 year low of $46.07 and a 1 year high of $85.76.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, meeting 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 company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the firm posted $0.18 EPS. The firm’s revenue was down 5.1% on a year-over-year basis. Equities research analysts forecast that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Friday, October 11th. Marvell Technology’s payout ratio is -21.24%.

Wall Street Analyst Weigh In

MRVL has been the topic of several analyst reports. Benchmark increased their price objective on shares of Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a report on Friday, August 30th. KeyCorp increased their target price on shares of Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Evercore ISI increased their target price on shares of Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. The Goldman Sachs Group increased their target price on shares of Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $100.00 target price on shares of Marvell Technology in a research report 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.62.

Insiders Place Their Bets

In related news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $73.87, for a total transaction of $110,805.00. Following the transaction, the chief financial officer now owns 111,753 shares in the company, valued at approximately $8,255,194.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Willem A. Meintjes sold 1,500 shares of the company’s 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 sale, the chief financial officer now owns 111,753 shares in the company, valued at approximately $8,255,194.11. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Muhammad Raghib Hussain sold 50,000 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the transaction, the insider now owns 838,571 shares of the company’s stock, valued at approximately $62,892,825. The disclosure for this sale can be found here. Insiders have sold 160,000 shares of company stock valued at $11,878,785 in the last ninety days. 0.33% of the stock is currently owned by insiders.

About Marvell Technology

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.