Tandem Capital Management Corp ADV Increases Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Tandem Capital Management Corp ADV raised its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 4.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 66,348 shares of the semiconductor company’s stock after purchasing an additional 2,710 shares during the quarter. Marvell Technology accounts for 2.2% of Tandem Capital Management Corp ADV’s investment portfolio, making the stock its 16th biggest holding. Tandem Capital Management Corp ADV’s holdings in Marvell Technology were worth $3,250,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in Marvell Technology by 83.4% during the first quarter. International Assets Investment Management LLC now owns 23,192 shares of the semiconductor company’s stock worth $1,118,000 after purchasing an additional 10,546 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in Marvell Technology by 11.1% during the fourth quarter. Oppenheimer & Co. Inc. now owns 259,416 shares of the semiconductor company’s stock worth $12,333,000 after purchasing an additional 25,848 shares during the last quarter. Jag Capital Management LLC raised its holdings in Marvell Technology by 5.7% during the first quarter. Jag Capital Management LLC now owns 141,722 shares of the semiconductor company’s stock worth $6,942,000 after purchasing an additional 7,691 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Marvell Technology by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,196,336 shares of the semiconductor company’s stock worth $199,494,000 after purchasing an additional 21,679 shares during the last quarter. Finally, Tsfg LLC acquired a new position in shares of Marvell Technology in the first quarter worth $60,000. Hedge funds and other institutional investors own 89.31% of the company’s stock.

In other news, CFO Jean X. Hu sold 16,071 shares of the stock in a transaction that occurred on Thursday, April 15th. The stock was sold at an average price of $48.54, for a total transaction of $780,086.34. Following the sale, the chief financial officer now directly owns 73,182 shares in the company, valued at approximately $3,552,254.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew J. Murphy sold 20,000 shares of the stock in a transaction that occurred on Monday, May 17th. The stock was sold at an average price of $42.66, for a total value of $853,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 51,071 shares of company stock worth $2,357,411 over the last quarter. Insiders own 0.33% of the company’s stock.

A number of equities research analysts have issued reports on the company. Evercore ISI boosted their price target on Marvell Technology from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Tuesday. Summit Insights raised Marvell Technology from a “hold” rating to a “buy” rating in a research report on Tuesday. Morgan Stanley upped their target price on Marvell Technology from $44.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Monday, March 1st. Piper Sandler upped their target price on Marvell Technology from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, KeyCorp upped their target price on Marvell Technology from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $54.70.

NASDAQ MRVL traded down $0.49 on Friday, hitting $51.31. 213,008 shares of the stock traded hands, compared to its average volume of 10,295,983. The company has a 50-day moving average price of $47.06. Marvell Technology, Inc. has a twelve month low of $32.53 and a twelve month high of $55.70. The stock has a market capitalization of $34.67 billion, a P/E ratio of -123.33, a P/E/G ratio of 2.32 and a beta of 1.10. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.50 and a quick ratio of 1.25.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Sunday, June 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. Marvell Technology had a positive return on equity of 5.25% and a negative net margin of 8.13%. During the same quarter in the previous year, the company earned $0.18 EPS. Research analysts expect that Marvell Technology, Inc. will post 1.02 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 28th. Stockholders of record on Friday, July 9th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Thursday, July 8th. Marvell Technology’s payout ratio is 41.38%.

Marvell Technology Profile

Marvell Technology, Inc, together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; application specific integrated circuits; and printer SoC products and application processors.

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Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)

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