Sei Investments Co. Boosts Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Sei Investments Co. lifted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 29.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 702,712 shares of the semiconductor company’s stock after acquiring an additional 159,796 shares during the quarter. Sei Investments Co. owned 0.08% of Marvell Technology worth $49,126,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Bruce G. Allen Investments LLC raised its position in shares of Marvell Technology by 56.4% in the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 141 shares in the last quarter. Salomon & Ludwin LLC bought a new stake in shares of Marvell Technology in the first quarter worth $31,000. Optimum Investment Advisors acquired a new stake in Marvell Technology in the first quarter valued at $35,000. Mark Sheptoff Financial Planning LLC bought a new position in Marvell Technology during the 1st quarter valued at $35,000. Finally, Bogart Wealth LLC grew its holdings in Marvell Technology by 1,480.0% during the 1st quarter. Bogart Wealth LLC now owns 632 shares of the semiconductor company’s stock worth $45,000 after acquiring an additional 592 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In related news, 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 transaction of $439,740.00. Following the completion of the sale, the chief executive officer now directly owns 208,915 shares of the company’s stock, valued at $15,311,380.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Matthew J. Murphy sold 6,000 shares of the business’s 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 sale, the chief executive officer now directly owns 208,915 shares of the company’s stock, valued at $15,311,380.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $73.88, for a total value of $369,400.00. Following the completion of the transaction, the executive vice president now owns 110,318 shares of the company’s stock, valued at approximately $8,150,293.84. 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 quarter. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Down 1.3 %

Marvell Technology stock opened at $73.87 on Monday. Marvell Technology, Inc. has a 52 week low of $46.07 and a 52 week high of $85.76. The stock has a market cap of $63.94 billion, a price-to-earnings ratio of -65.37, a PEG ratio of 3.29 and a beta of 1.46. The company’s 50-day moving average price is $68.20 and its two-hundred day moving average price is $69.63. 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 posted 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 company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the business earned $0.18 EPS. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, analysts expect that Marvell Technology, Inc. will post 0.77 EPS 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. Stockholders 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 dividend yield of 0.32%. Marvell Technology’s dividend payout ratio (DPR) is -21.24%.

Analysts Set New Price Targets

MRVL has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. Benchmark increased their target price on Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Bank of America boosted their price target on Marvell Technology from $85.00 to $90.00 and gave the company a “buy” rating in a report on Friday, August 30th. Barclays raised their price objective on Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Finally, B. Riley boosted their target price on shares of Marvell Technology from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Two analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus target price 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.