Samlyn Capital LLC Invests $47.55 Million in Marvell Technology, Inc. (NASDAQ:MRVL)

Samlyn Capital LLC purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 680,308 shares of the semiconductor company’s stock, valued at approximately $47,554,000. Samlyn Capital LLC owned 0.08% of Marvell Technology as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Marvell Technology by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 72,810,448 shares of the semiconductor company’s stock worth $5,160,805,000 after acquiring an additional 468,086 shares during the period. Capital Research Global Investors grew its stake in shares of Marvell Technology by 0.5% during the 4th quarter. Capital Research Global Investors now owns 35,791,266 shares of the semiconductor company’s stock worth $2,158,601,000 after acquiring an additional 185,479 shares during the period. Matrix Capital Management Company LP lifted its holdings in Marvell Technology by 14.3% during the 4th quarter. Matrix Capital Management Company LP now owns 15,055,500 shares of the semiconductor company’s stock worth $907,997,000 after purchasing an additional 1,888,676 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Marvell Technology by 13.4% during the 1st 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 lifted its holdings in Marvell Technology by 17.6% during the 2nd quarter. Van ECK Associates Corp now owns 5,901,773 shares of the semiconductor company’s stock worth $412,533,000 after purchasing an additional 884,380 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Stifel Nicolaus reissued a “buy” rating and set a $95.00 price objective (up previously from $90.00) on shares of Marvell Technology in a report on Friday, August 30th. Barclays increased their price objective on Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. B. Riley increased their price objective on Marvell Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, May 31st. KeyCorp increased their price objective on Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Finally, Bank of America increased their price objective on Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.62.

Insider Buying and Selling

In related news, CEO Matthew J. Murphy sold 6,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 208,915 shares in the company, valued at approximately $15,311,380.35. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Matthew J. Murphy sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Monday, September 16th. The stock was 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 in the company, valued at approximately $15,311,380.35. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $70.07, for a total value of $175,175.00. Following the completion of the sale, the executive vice president now owns 20,450 shares in the company, valued at $1,432,931.50. The disclosure for this sale can be found here. Insiders have sold a total of 160,000 shares of company stock worth $11,878,785 in the last ninety days. 0.33% of the stock is owned by insiders.

Marvell Technology Price Performance

Shares of Marvell Technology stock opened at $71.81 on Tuesday. 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 has a market capitalization of $62.16 billion, a PE ratio of -63.55, a price-to-earnings-growth ratio of 3.29 and a beta of 1.46. The business’s 50-day moving average price is $68.16 and its 200-day moving average price is $69.54. Marvell Technology, Inc. has a 12 month low of $46.07 and a 12 month high of $85.76.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting the consensus estimate 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 for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the company earned $0.18 EPS. The company’s revenue was down 5.1% on a year-over-year basis. Sell-side analysts forecast that Marvell Technology, Inc. will post 0.77 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The business also recently declared 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 yield of 0.33%. Marvell Technology’s payout ratio is -21.24%.

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.