Toroso Investments LLC Has $1.02 Million Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Toroso Investments LLC raised its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 8.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,494 shares of the semiconductor company’s stock after buying an additional 1,849 shares during the period. Toroso Investments LLC’s holdings in Marvell Technology were worth $1,017,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MRVL. FMR LLC increased its stake in shares of Marvell Technology by 0.4% in the first quarter. FMR LLC now owns 128,532,727 shares of the semiconductor company’s stock valued at $5,565,467,000 after buying an additional 555,578 shares during the period. Moneta Group Investment Advisors LLC raised its stake in Marvell Technology by 118,898.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 62,452,538 shares of the semiconductor company’s stock worth $2,313,242,000 after buying an additional 62,400,056 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Marvell Technology by 123.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 42,009,812 shares of the semiconductor company’s stock valued at $1,819,025,000 after buying an additional 23,220,407 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in Marvell Technology by 6.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 25,272,190 shares of the semiconductor company’s stock worth $936,082,000 after acquiring an additional 1,603,857 shares during the period. Finally, State Street Corp boosted its position in shares of Marvell Technology by 3.8% during the 1st quarter. State Street Corp now owns 19,449,228 shares of the semiconductor company’s stock valued at $842,151,000 after purchasing an additional 715,036 shares in the last quarter. 83.32% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Dan Christman sold 13,434 shares of the business’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $63.25, for a total transaction of $849,700.50. Following the sale, the executive vice president now directly owns 18,859 shares in the company, valued at approximately $1,192,831.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Dan Christman sold 13,434 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $63.25, for a total transaction of $849,700.50. Following the completion of the transaction, the executive vice president now owns 18,859 shares of the company’s stock, valued at $1,192,831.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Chris Koopmans sold 2,000 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $55.57, for a total transaction of $111,140.00. Following the completion of the sale, the executive vice president now owns 134,737 shares in the company, valued at $7,487,335.09. The disclosure for this sale can be found here. In the last ninety days, insiders sold 114,434 shares of company stock valued at $6,901,231. Company insiders own 0.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MRVL. Susquehanna lifted their target price on Marvell Technology from $60.00 to $70.00 and gave the stock a “positive” rating in a report on Wednesday, August 23rd. StockNews.com initiated coverage on shares of Marvell Technology in a report on Thursday, August 17th. They issued a “hold” rating for the company. Needham & Company LLC reiterated a “buy” rating and set a $65.00 price objective on shares of Marvell Technology in a report on Friday, August 25th. Morgan Stanley reduced their target price on Marvell Technology from $68.00 to $65.00 and set an “equal weight” rating for the company in a research note on Friday, August 25th. Finally, B. Riley upped their price target on Marvell Technology from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, August 25th. Two research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $66.73.

Marvell Technology Stock Up 0.5 %

Marvell Technology stock opened at $54.78 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $47.26 billion, a P/E ratio of -124.50, a P/E/G ratio of 6.91 and a beta of 1.43. The firm has a 50 day moving average price of $60.02 and a 200-day moving average price of $52.12. Marvell Technology, Inc. has a twelve month low of $33.75 and a twelve month high of $67.99.

Marvell Technology (NASDAQ:MRVL) last issued its earnings results on Thursday, August 24th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. Marvell Technology had a positive return on equity of 6.13% and a negative net margin of 6.74%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the company posted $0.41 earnings per share. The business’s revenue was down 11.6% on a year-over-year basis. As a group, equities analysts predict that Marvell Technology, Inc. will post 0.88 EPS for the current year.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Friday, October 6th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.44%. Marvell Technology’s dividend payout ratio (DPR) is presently -54.55%.

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, scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.