Nkcfo LLC Has $727,000 Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Nkcfo LLC boosted its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 9.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,400 shares of the semiconductor company’s stock after purchasing an additional 900 shares during the period. Nkcfo LLC’s holdings in Marvell Technology were worth $727,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MRVL. Diversified Trust Co acquired a new position in shares of Marvell Technology in the second quarter valued at approximately $932,000. Orion Portfolio Solutions LLC lifted its holdings in Marvell Technology by 47.1% during the 1st quarter. Orion Portfolio Solutions LLC now owns 32,191 shares of the semiconductor company’s stock worth $2,282,000 after buying an additional 10,306 shares during the period. Hoylecohen LLC acquired a new position in Marvell Technology during the 4th quarter worth about $658,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Marvell Technology by 20.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 529,127 shares of the semiconductor company’s stock valued at $37,505,000 after buying an additional 88,918 shares during the period. Finally, Westwood Holdings Group Inc. bought a new position in shares of Marvell Technology during the first quarter worth about $6,985,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MRVL shares. Needham & Company LLC reissued a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. Bank of America increased their price objective on shares of Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Benchmark upped their price target on shares of Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 price target on shares of Marvell Technology in a report on Friday, August 30th. Finally, The Goldman Sachs Group boosted their price objective on Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Two 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.62.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $73.87, for a total transaction of $110,805.00. Following the completion of the sale, the chief financial officer now owns 111,753 shares in the company, valued at $8,255,194.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Matthew J. Murphy sold 6,000 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 208,915 shares in the company, valued at approximately $15,311,380.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $73.87, for a total value of $110,805.00. Following the completion of the sale, the chief financial officer now owns 111,753 shares in the company, valued at $8,255,194.11. The disclosure for this sale can be found here. Insiders have sold 160,000 shares of company stock worth $11,878,785 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Marvell Technology Trading Down 1.3 %

Shares of Marvell Technology stock opened at $73.87 on Friday. The company has a market capitalization of $63.94 billion, a P/E ratio of -65.37, a price-to-earnings-growth ratio of 3.29 and a beta of 1.46. The stock has a fifty day simple moving average of $68.20 and a 200 day simple moving average of $69.78. Marvell Technology, Inc. has a 12-month low of $46.07 and a 12-month high of $85.76. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28.

Marvell Technology (NASDAQ:MRVL) last released its quarterly 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. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the firm earned $0.18 earnings per share. The firm’s revenue was down 5.1% on a year-over-year basis. On average, sell-side analysts anticipate that Marvell Technology, Inc. will post 0.77 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The firm 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 $0.06 dividend. The ex-dividend date is Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.32%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

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.