Capstone Triton Financial Group LLC Raises Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Capstone Triton Financial Group LLC increased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.1% in the second quarter, Holdings Channel reports. The firm owned 22,921 shares of the semiconductor company’s stock after acquiring an additional 893 shares during the period. Marvell Technology makes up 1.1% of Capstone Triton Financial Group LLC’s portfolio, making the stock its 29th biggest position. Capstone Triton Financial Group LLC’s holdings in Marvell Technology were worth $1,602,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Marvell Technology by 0.6% in the first quarter. Vanguard Group Inc. now owns 72,810,448 shares of the semiconductor company’s stock valued at $5,160,805,000 after buying an additional 468,086 shares in the last quarter. Capital Research Global Investors grew its position in Marvell Technology by 0.5% in the fourth quarter. Capital Research Global Investors now owns 35,791,266 shares of the semiconductor company’s stock valued at $2,158,601,000 after acquiring an additional 185,479 shares in the last quarter. Matrix Capital Management Company LP raised its stake in shares of Marvell Technology by 14.3% during the fourth quarter. Matrix Capital Management Company LP now owns 15,055,500 shares of the semiconductor company’s stock valued at $907,997,000 after purchasing an additional 1,888,676 shares during the period. Janus Henderson Group PLC lifted its position in shares of Marvell Technology by 13.4% during the first quarter. Janus Henderson Group PLC now owns 13,478,472 shares of the semiconductor company’s stock worth $955,400,000 after purchasing an additional 1,591,874 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Marvell Technology by 17.6% in the second quarter. Van ECK Associates Corp now owns 5,901,773 shares of the semiconductor company’s stock valued at $412,533,000 after purchasing an additional 884,380 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Stock Down 1.3 %

Shares of MRVL stock opened at $73.87 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. The stock 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. The business’s fifty day moving average is $68.20 and its 200-day moving average is $69.78. Marvell Technology, Inc. has a 1 year low of $46.07 and a 1 year high of $85.76.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings results 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 negative net margin of 18.30% and a positive return on equity of 4.31%. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the business earned $0.18 earnings per share. Marvell Technology’s revenue for the quarter was down 5.1% compared to the same quarter last year. Equities analysts expect that Marvell Technology, Inc. will post 0.77 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors 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 0.32%. The ex-dividend date is Friday, October 11th. Marvell Technology’s payout ratio is -21.24%.

Insiders Place Their Bets

In other news, CEO Matthew J. Murphy sold 6,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $73.29, for a total transaction of $439,740.00. Following the completion of the sale, the chief executive officer now directly owns 208,915 shares of the company’s stock, valued at approximately $15,311,380.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Daniel Durn bought 1,425 shares of the business’s stock in a transaction on Monday, June 24th. The shares were bought at an average cost of $70.21 per share, with a total value of $100,049.25. Following the purchase, the director now directly owns 1,923 shares in the company, valued at $135,013.83. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Matthew J. Murphy sold 6,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $73.29, for a total value of $439,740.00. Following the transaction, the chief executive officer now directly owns 208,915 shares in the company, valued at $15,311,380.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 160,000 shares of company stock worth $11,878,785. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

MRVL has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their price objective 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. Bank of America boosted their price target on Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Piper Sandler restated an “overweight” rating and set a $100.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. Stifel Nicolaus restated a “buy” rating and set a $95.00 price objective (up from $90.00) on shares of Marvell Technology in a report on Friday, August 30th. Finally, Roth Mkm reiterated a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Two analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $91.62.

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.