Tandem Capital Management Corp ADV boosted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,348 shares of the semiconductor company’s stock after buying an additional 2,710 shares during the quarter. Marvell Technology comprises 2.2% of Tandem Capital Management Corp ADV’s portfolio, making the stock its 16th biggest holding. Tandem Capital Management Corp ADV’s holdings in Marvell Technology were worth $3,250,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Safeguard Investment Advisory Group LLC acquired a new stake in shares of Marvell Technology in the fourth quarter valued at about $25,000. TRU Independence Asset Management 2 LLC acquired a new stake in shares of Marvell Technology in the fourth quarter valued at about $25,000. Encompass Wealth Advisors LLC acquired a new stake in shares of Marvell Technology in the fourth quarter valued at about $25,000. Tompkins Financial Corp acquired a new stake in shares of Marvell Technology in the fourth quarter valued at about $27,000. Finally, Arlington Partners LLC acquired a new stake in shares of Marvell Technology in the first quarter valued at about $33,000. 89.31% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Marvell Technology stock traded down $0.49 during midday trading on Friday, reaching $51.31. The company had a trading volume of 213,008 shares, compared to its average volume of 10,295,983. The company has a quick ratio of 1.25, a current ratio of 1.50 and a debt-to-equity ratio of 0.12. The firm has a market cap of $34.67 billion, a P/E ratio of -123.33, a price-to-earnings-growth ratio of 2.32 and a beta of 1.10. The company’s fifty day moving average is $47.06. Marvell Technology, Inc. has a 1-year low of $32.53 and a 1-year high of $55.70.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 28th. Investors of record on Friday, July 9th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Thursday, July 8th. Marvell Technology’s dividend payout ratio is currently 41.38%.
In related news, CFO Jean X. Hu sold 16,071 shares of the firm’s stock in a transaction that occurred on Thursday, April 15th. The shares were sold at an average price of $48.54, for a total value of $780,086.34. Following the completion of the sale, the chief financial officer now owns 73,182 shares of the company’s stock, valued at $3,552,254.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Matthew J. Murphy sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 17th. The shares were sold at an average price of $42.66, for a total transaction of $853,200.00. The disclosure for this sale can be found here. In the last three months, insiders sold 51,071 shares of company stock valued at $2,357,411. 0.33% of the stock is currently owned by company insiders.
A number of equities research analysts recently weighed in on the company. Piper Sandler lifted their target price on Marvell Technology from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday. Cowen lifted their target price on Marvell Technology from $46.00 to $50.00 and gave the stock a “market perform” rating in a research report on Tuesday. Susquehanna reissued a “buy” rating on shares of Marvell Technology in a research report on Thursday, June 3rd. Rosenblatt Securities lifted their target price on Marvell Technology from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, William Blair reissued an “outperform” rating on shares of Marvell Technology in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Marvell Technology presently has an average rating of “Buy” and a consensus target price of $54.70.
Marvell Technology Company Profile
Marvell Technology, Inc, together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; application specific integrated circuits; and printer SoC products and application processors.
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