PKO Investment Management Joint Stock Co Makes New $4.93 Million Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

PKO Investment Management Joint Stock Co purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 80,000 shares of the semiconductor company’s stock, valued at approximately $4,926,000.

Other institutional investors have also made changes to their positions in the company. Insigneo Advisory Services LLC increased its stake in Marvell Technology by 22.1% during the 1st quarter. Insigneo Advisory Services LLC now owns 3,954 shares of the semiconductor company’s stock worth $243,000 after acquiring an additional 716 shares during the period. WD Rutherford LLC grew its holdings in shares of Marvell Technology by 25.0% during the 1st quarter. WD Rutherford LLC now owns 31,447 shares of the semiconductor company’s stock worth $1,936,000 after purchasing an additional 6,289 shares in the last quarter. QRG Capital Management Inc. grew its holdings in shares of Marvell Technology by 82.4% during the 1st quarter. QRG Capital Management Inc. now owns 70,127 shares of the semiconductor company’s stock worth $4,318,000 after purchasing an additional 31,676 shares in the last quarter. Sagespring Wealth Partners LLC increased its position in shares of Marvell Technology by 9.5% in the first quarter. Sagespring Wealth Partners LLC now owns 4,093 shares of the semiconductor company’s stock worth $252,000 after purchasing an additional 355 shares during the period. Finally, Brighton Jones LLC raised its stake in Marvell Technology by 15.8% in the first quarter. Brighton Jones LLC now owns 10,980 shares of the semiconductor company’s stock valued at $676,000 after purchasing an additional 1,501 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Trading Up 4.8%

NASDAQ MRVL opened at $70.42 on Tuesday. The firm has a market capitalization of $60.83 billion, a PE ratio of -41.42, a price-to-earnings-growth ratio of 1.61 and a beta of 1.76. The business’s 50-day moving average price is $60.71 and its two-hundred day moving average price is $84.98. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01. Marvell Technology had a positive return on equity of 4.59% and a negative net margin of 27.49%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the business posted $0.24 earnings per share. The firm’s revenue was up 63.3% on a year-over-year basis. On average, analysts expect that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.34%. The ex-dividend date is Friday, July 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -42.11%.

Insider Buying and Selling

In other news, EVP Mark Casper sold 12,460 shares of the business’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $685,300.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $65.10, for a total value of $390,600.00. Following the sale, the chief operating officer now owns 92,065 shares in the company, valued at approximately $5,993,431.50. The trade was a 6.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,394 shares of company stock valued at $1,656,076 over the last quarter. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

MRVL has been the topic of several recent analyst reports. China Renaissance initiated coverage on shares of Marvell Technology in a report on Thursday, June 5th. They issued a “buy” rating and a $110.00 target price on the stock. Stifel Nicolaus reduced their price target on shares of Marvell Technology from $115.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Piper Sandler reissued an “overweight” rating and issued a $85.00 price objective (down from $95.00) on shares of Marvell Technology in a research note on Friday, May 30th. Benchmark restated a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research report on Friday, May 30th. Finally, Roth Capital set a $100.00 target price on Marvell Technology in a report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average price target of $94.73.

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.