Dimensional Fund Advisors LP Buys 25,983 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Dimensional Fund Advisors LP grew its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,844,719 shares of the semiconductor company’s stock after purchasing an additional 25,983 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Marvell Technology were worth $268,711,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Lazard Asset Management LLC lifted its stake in Marvell Technology by 47,934.4% during the 1st quarter. Lazard Asset Management LLC now owns 4,001,745 shares of the semiconductor company’s stock valued at $283,643,000 after acquiring an additional 3,993,414 shares in the last quarter. Aspex Management HK Ltd boosted its holdings in Marvell Technology by 103.8% during the fourth quarter. Aspex Management HK Ltd now owns 5,712,564 shares of the semiconductor company’s stock worth $344,525,000 after purchasing an additional 2,908,912 shares during the last quarter. Whale Rock Capital Management LLC purchased a new position in Marvell Technology during the first quarter worth about $181,559,000. Swedbank AB grew its position in Marvell Technology by 653.5% in the 2nd quarter. Swedbank AB now owns 2,334,015 shares of the semiconductor company’s stock worth $163,148,000 after purchasing an additional 2,024,269 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Marvell Technology by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 72,342,362 shares of the semiconductor company’s stock valued at $4,362,968,000 after buying an additional 1,890,753 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Down 0.9 %

MRVL stock opened at $72.77 on Wednesday. The stock has a 50-day simple moving average of $68.23 and a two-hundred day simple moving average of $69.80. Marvell Technology, Inc. has a twelve month low of $46.07 and a twelve month high of $85.76. The firm has a market capitalization of $62.99 billion, a PE ratio of -64.40, a PEG ratio of 3.29 and a beta of 1.46. 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 (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. Marvell Technology’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.18 earnings per share. On average, equities analysts predict that Marvell Technology, Inc. will post 0.77 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MRVL shares. Piper Sandler reaffirmed an “overweight” rating and issued a $100.00 target price on shares of Marvell Technology in a report on Friday, August 30th. KeyCorp raised their target price on Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Evercore ISI boosted their price target 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. Barclays increased their price target on shares of Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Finally, B. Riley lifted their price objective 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. Two equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $91.62.

Insider Activity at Marvell Technology

In other Marvell Technology news, Director Ford Tamer sold 92,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $74.16, for a total value of $6,822,720.00. Following the transaction, the director now directly owns 351,193 shares in the company, valued at approximately $26,044,472.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Daniel Durn acquired 1,425 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was bought at an average cost of $70.21 per share, with a total value of $100,049.25. Following the acquisition, the director now owns 1,923 shares of the company’s stock, valued at approximately $135,013.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ford Tamer sold 92,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $74.16, for a total value of $6,822,720.00. Following the completion of the transaction, the director now directly owns 351,193 shares in the company, valued at approximately $26,044,472.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 160,000 shares of company stock valued at $11,878,785. Company insiders own 0.33% of the company’s stock.

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.