Blair William & Co. IL Has $40.56 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Blair William & Co. IL trimmed its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 580,208 shares of the semiconductor company’s stock after selling 2,667 shares during the quarter. Blair William & Co. IL owned about 0.07% of Marvell Technology worth $40,557,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in 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 last quarter. Capital Research Global Investors lifted its position 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 purchasing an additional 185,479 shares during the last quarter. Matrix Capital Management Company LP boosted its stake 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 valued at $907,997,000 after purchasing an additional 1,888,676 shares during the period. Janus Henderson Group PLC grew its holdings in Marvell Technology by 13.4% in the 1st quarter. Janus Henderson Group PLC now owns 13,478,472 shares of the semiconductor company’s stock valued at $955,400,000 after buying an additional 1,591,874 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in Marvell Technology by 17.6% in the 2nd quarter. Van ECK Associates Corp now owns 5,901,773 shares of the semiconductor company’s stock worth $412,533,000 after buying an additional 884,380 shares during the period. 83.51% of the stock is owned by institutional investors.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $73.88, for a total transaction of $369,400.00. Following the transaction, the executive vice president now owns 110,318 shares of the company’s stock, valued at approximately $8,150,293.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Ford Tamer sold 92,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $74.16, for a total transaction of $6,822,720.00. Following the completion of the sale, the director now directly owns 351,193 shares of the company’s stock, valued at $26,044,472.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Chris Koopmans sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $73.88, for a total transaction of $369,400.00. Following the completion of the transaction, the executive vice president now directly owns 110,318 shares in the company, valued at $8,150,293.84. The disclosure for this sale can be found here. Insiders sold a total of 160,000 shares of company stock valued at $11,878,785 over the last quarter. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Stock Down 1.7 %

NASDAQ MRVL opened at $71.55 on Thursday. The stock’s 50 day simple moving average is $68.14 and its 200 day simple moving average is $69.78. Marvell Technology, Inc. has a one year low of $46.07 and a one year high of $85.76. The firm has a market cap of $61.93 billion, a PE ratio of -63.32, a price-to-earnings-growth ratio of 3.29 and a beta of 1.46. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the company posted $0.18 earnings per share. As a group, sell-side analysts forecast that Marvell Technology, Inc. will post 0.77 earnings per share 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. Stockholders of record on Friday, October 11th will be paid a dividend of $0.06 per share. The ex-dividend date 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 currently -21.24%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays increased their price objective on Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Wednesday. TD Cowen upgraded shares of Marvell Technology to a “strong-buy” rating in a report on Monday. Bank of America increased their target price on shares of Marvell Technology from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Oppenheimer restated an “outperform” rating and set a $90.00 price target (up from $80.00) on shares of Marvell Technology in a research note on Friday, May 31st. Two equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $91.62.

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.