Ground Swell Capital LLC Buys Shares of 4,437 Marvell Technology, Inc. (NASDAQ:MRVL)

Ground Swell Capital LLC bought a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 4,437 shares of the semiconductor company’s stock, valued at approximately $273,000.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Marvell Technology by 1.9% during the first quarter. Vanguard Group Inc. now owns 63,770,122 shares of the semiconductor company’s stock valued at $3,926,326,000 after purchasing an additional 1,212,338 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Marvell Technology by 32.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company’s stock worth $1,272,117,000 after buying an additional 5,050,159 shares during the last quarter. Brown Advisory Inc. lifted its position in Marvell Technology by 2.2% in the 1st quarter. Brown Advisory Inc. now owns 19,300,527 shares of the semiconductor company’s stock worth $1,188,333,000 after buying an additional 423,892 shares during the last quarter. Janus Henderson Group PLC lifted its position in Marvell Technology by 6.9% in the 4th quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company’s stock worth $1,462,274,000 after buying an additional 857,087 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its position in Marvell Technology by 232.2% in the 4th quarter. Nuveen Asset Management LLC now owns 9,360,425 shares of the semiconductor company’s stock worth $1,033,859,000 after buying an additional 6,543,132 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Mark Casper sold 3,000 shares of the company’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $72.35, for a total transaction of $217,050.00. Following the transaction, the executive vice president directly owned 17,163 shares of the company’s stock, valued at $1,241,743.05. This represents a 14.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $68.52, for a total value of $102,780.00. Following the transaction, the chief financial officer directly owned 121,348 shares in the company, valued at approximately $8,314,764.96. The trade was a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,409 shares of company stock valued at $445,964 over the last ninety days. 0.19% of the stock is currently owned by corporate insiders.

Marvell Technology Trading Up 1.9%

NASDAQ MRVL opened at $79.32 on Thursday. Marvell Technology, Inc. has a 12 month low of $47.08 and a 12 month high of $127.48. The stock has a market cap of $68.52 billion, a P/E ratio of -139.16, a P/E/G ratio of 0.84 and a beta of 1.83. The stock’s fifty day moving average price is $73.87 and its 200-day moving average price is $73.82. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22.

Marvell Technology (NASDAQ:MRVL) last released its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the firm posted $0.24 earnings per share. The company’s quarterly revenue was up 63.3% on a year-over-year basis. As a group, equities analysts forecast that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Friday, July 11th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, July 11th. Marvell Technology’s dividend payout ratio is presently -42.11%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MRVL. Melius Research boosted their target price on Marvell Technology from $67.00 to $76.00 and gave the stock a “hold” rating in a research report on Wednesday, June 18th. Melius downgraded Marvell Technology from a “buy” rating to a “hold” rating and set a $66.00 target price for the company. in a research report on Thursday, May 22nd. Needham & Company LLC downgraded Marvell Technology from a “buy” rating to a “cautious” rating in a research report on Wednesday, July 16th. Wall Street Zen upgraded Marvell Technology from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Finally, Bank of America boosted their target price on Marvell Technology from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, June 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $94.70.

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.