Profund Advisors LLC Has $8.60 Million Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Profund Advisors LLC boosted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 6.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,077 shares of the semiconductor company’s stock after purchasing an additional 7,257 shares during the period. Profund Advisors LLC’s holdings in Marvell Technology were worth $8,603,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Westwood Holdings Group Inc. raised its holdings in Marvell Technology by 2.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 101,189 shares of the semiconductor company’s stock valued at $7,073,000 after buying an additional 2,640 shares during the last quarter. Nkcfo LLC raised its stake in shares of Marvell Technology by 9.5% during the second quarter. Nkcfo LLC now owns 10,400 shares of the semiconductor company’s stock valued at $727,000 after acquiring an additional 900 shares during the last quarter. Summit Trail Advisors LLC raised its stake in shares of Marvell Technology by 7.3% during the second quarter. Summit Trail Advisors LLC now owns 5,805 shares of the semiconductor company’s stock valued at $406,000 after acquiring an additional 397 shares during the last quarter. Capstone Triton Financial Group LLC lifted its holdings in shares of Marvell Technology by 4.1% during the second quarter. Capstone Triton Financial Group LLC now owns 22,921 shares of the semiconductor company’s stock worth $1,602,000 after purchasing an additional 893 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake in shares of Marvell Technology by 208.9% in the second quarter. Thrivent Financial for Lutherans now owns 307,225 shares of the semiconductor company’s stock worth $21,476,000 after purchasing an additional 207,773 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Muhammad Raghib Hussain sold 50,000 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 838,571 shares in the company, valued at $62,892,825. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Muhammad Raghib Hussain sold 50,000 shares of the company’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 value of $3,750,000.00. Following the completion of the transaction, the insider now directly owns 838,571 shares of the company’s stock, valued at $62,892,825. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Matthew J. Murphy sold 6,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 208,915 shares of the company’s stock, valued at $15,311,380.35. The disclosure for this sale can be found here. Insiders have sold 160,000 shares of company stock valued at $11,878,785 in the last three months. 0.33% of the stock is currently owned by insiders.

Marvell Technology Stock Down 1.3 %

Marvell Technology stock opened at $73.87 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. The firm’s fifty day moving average price is $68.20 and its two-hundred day moving average price is $69.71. The firm has a market capitalization of $63.94 billion, a price-to-earnings ratio of -65.37, a price-to-earnings-growth ratio of 3.29 and a beta of 1.46. 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 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 firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the company posted $0.18 EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, equities research analysts predict that Marvell Technology, Inc. will post 0.77 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.32%. The ex-dividend date is Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

Analyst Upgrades and Downgrades

Several brokerages have commented on MRVL. TD Cowen raised Marvell Technology to a “strong-buy” rating in a report on Monday, September 16th. B. Riley lifted their price objective on Marvell Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Oppenheimer reissued an “outperform” rating and set a $90.00 target price (up previously from $80.00) on shares of Marvell Technology in a research report on Friday, May 31st. Benchmark upped their price objective on shares of Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Bank of America lifted their target price on shares of Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Two equities 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $91.62.

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.