Global X Japan Co. Ltd. Acquires 14,090 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Global X Japan Co. Ltd. lifted its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 22.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 76,473 shares of the semiconductor company’s stock after buying an additional 14,090 shares during the period. Marvell Technology comprises approximately 0.8% of Global X Japan Co. Ltd.’s portfolio, making the stock its 29th biggest holding. Global X Japan Co. Ltd.’s holdings in Marvell Technology were worth $5,345,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MRVL. Tlwm grew its position in Marvell Technology by 1.6% in the 2nd quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock worth $601,000 after purchasing an additional 136 shares during the last quarter. Bruce G. Allen Investments LLC lifted its stake in shares of Marvell Technology by 56.4% in the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 141 shares during the period. Trueblood Wealth Management LLC lifted its stake in shares of Marvell Technology by 3.2% in the first quarter. Trueblood Wealth Management LLC now owns 4,944 shares of the semiconductor company’s stock valued at $350,000 after buying an additional 152 shares during the period. Edmond DE Rothschild Holding S.A. grew its position in Marvell Technology by 0.5% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 30,764 shares of the semiconductor company’s stock worth $1,855,000 after buying an additional 162 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC increased its stake in Marvell Technology by 0.4% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 44,342 shares of the semiconductor company’s stock valued at $3,143,000 after acquiring an additional 168 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Stock Performance

Shares of NASDAQ:MRVL opened at $68.93 on Tuesday. The business has a fifty day moving average of $68.11 and a 200-day moving average of $69.63. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. Marvell Technology, Inc. has a twelve month low of $46.07 and a twelve month high of $85.76. The firm has a market cap of $61.09 billion, a PE ratio of -61.00, a price-to-earnings-growth ratio of 2.91 and a beta of 1.46.

Marvell Technology (NASDAQ:MRVL) last issued 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 negative net margin of 18.30% and a positive return on equity of 4.31%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the firm earned $0.18 EPS. The company’s revenue was down 5.1% on a year-over-year basis. On average, equities research analysts predict that Marvell Technology, Inc. will post 0.77 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 12th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Friday, July 12th. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

Insiders Place Their Bets

In other news, insider Muhammad Raghib Hussain sold 50,000 shares of Marvell Technology stock in a transaction on Monday, July 8th. The stock was sold at an average price of $75.00, for a total value of $3,750,000.00. Following the completion of the sale, the insider now directly owns 838,571 shares of the company’s stock, valued at approximately $62,892,825. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $73.42, for a total value of $367,100.00. Following the transaction, the executive vice president now directly owns 115,318 shares in the company, valued at $8,466,647.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Muhammad Raghib Hussain sold 50,000 shares of Marvell Technology stock in a transaction on Monday, July 8th. The stock was sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the sale, the insider now directly owns 838,571 shares of the company’s stock, valued at approximately $62,892,825. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,500 shares of company stock valued at $4,872,620. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on MRVL. The Goldman Sachs Group raised their price objective on Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Jefferies Financial Group assumed coverage on shares of Marvell Technology in a research note on Monday, May 13th. They set a “buy” rating and a $85.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a report on Friday, August 30th. Benchmark raised their price objective on shares of Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Rosenblatt Securities upped their target price on shares of Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus 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.