Axa S.A. Has $48.46 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Axa S.A. lifted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 3.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 693,329 shares of the semiconductor company’s stock after purchasing an additional 26,078 shares during the period. Axa S.A. owned approximately 0.08% of Marvell Technology worth $48,464,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MRVL. Bruce G. Allen Investments LLC grew its holdings in shares of Marvell Technology by 56.4% during the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 141 shares in the last quarter. Salomon & Ludwin LLC purchased a new position in shares of Marvell Technology during the first quarter valued at $31,000. Optimum Investment Advisors purchased a new position in shares of Marvell Technology during the first quarter valued at $35,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Marvell Technology during the first quarter valued at $35,000. Finally, Bogart Wealth LLC grew its holdings in shares of Marvell Technology by 1,480.0% during the first quarter. Bogart Wealth LLC now owns 632 shares of the semiconductor company’s stock valued at $45,000 after buying an additional 592 shares in the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Muhammad Raghib Hussain sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the completion of the transaction, the insider now owns 838,571 shares in the company, valued at approximately $62,892,825. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $70.07, for a total transaction of $175,175.00. Following the completion of the transaction, the executive vice president now owns 20,450 shares in the company, valued at approximately $1,432,931.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Muhammad Raghib Hussain sold 50,000 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $75.00, for a total value of $3,750,000.00. Following the sale, the insider now directly owns 838,571 shares of the company’s stock, valued at $62,892,825. The disclosure for this sale can be found here. Insiders sold 160,000 shares of company stock worth $11,878,785 in the last 90 days. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MRVL has been the topic of a number of research analyst reports. TD Cowen upgraded Marvell Technology to a “strong-buy” rating in a report on Monday, September 16th. Morgan Stanley boosted their target price on Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, August 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Oppenheimer restated an “outperform” rating and issued a $90.00 target price (up previously from $80.00) on shares of Marvell Technology in a research note on Friday, May 31st. Finally, Rosenblatt Securities boosted their target price on Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Two research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus price target of $91.62.

Marvell Technology Price Performance

Shares of MRVL stock opened at $71.18 on Thursday. The stock has a 50 day moving average of $68.14 and a two-hundred day moving average of $69.52. The company has a current ratio of 1.79, a quick ratio of 1.26 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 capitalization of $63.08 billion, a P/E ratio of -62.99, a P/E/G ratio of 3.12 and a beta of 1.46.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates 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 the consensus estimate of $1.25 billion. During the same quarter last year, the company earned $0.18 EPS. The company’s quarterly revenue was down 5.1% on a year-over-year basis. As a group, equities analysts expect that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.34%. Marvell Technology’s dividend payout ratio (DPR) is presently -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.