Sivia Capital Partners LLC Acquires 2,420 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Sivia Capital Partners LLC grew its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 129.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 4,286 shares of the semiconductor company’s stock after acquiring an additional 2,420 shares during the period. Sivia Capital Partners LLC’s holdings in Marvell Technology were worth $264,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MRVL. Union Bancaire Privee UBP SA purchased a new stake in Marvell Technology during the fourth quarter valued at approximately $16,699,000. Yousif Capital Management LLC raised its holdings in Marvell Technology by 1.1% during the 4th quarter. Yousif Capital Management LLC now owns 13,893 shares of the semiconductor company’s stock valued at $1,534,000 after buying an additional 146 shares during the period. Stratos Wealth Partners LTD. raised its holdings in Marvell Technology by 3.7% during the 4th quarter. Stratos Wealth Partners LTD. now owns 16,744 shares of the semiconductor company’s stock valued at $1,849,000 after buying an additional 600 shares during the period. Consolidated Portfolio Review Corp bought a new stake in Marvell Technology in the fourth quarter worth $259,000. Finally, Golden State Wealth Management LLC purchased a new position in Marvell Technology during the fourth quarter worth $182,000. 83.51% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the sale, the chief accounting officer now directly owns 31,100 shares of the company’s stock, valued at $2,138,125. This represents a 4.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $412,980.00. Following the sale, the chief operating officer now owns 81,931 shares in the company, valued at $5,639,310.73. This trade represents a 6.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,541 shares of company stock valued at $2,079,948 in the last quarter. 0.19% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Redburn Atlantic assumed coverage on shares of Marvell Technology in a research note on Wednesday, May 28th. They issued a “neutral” rating and a $67.00 target price on the stock. Loop Capital reduced their price objective on shares of Marvell Technology from $110.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, May 30th. Benchmark restated a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research report on Friday, May 30th. Rosenblatt Securities reaffirmed a “buy” rating and set a $124.00 target price on shares of Marvell Technology in a research note on Friday, May 30th. Finally, Roth Capital set a $100.00 price target on Marvell Technology in a research note on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.73.

Marvell Technology Stock Performance

Shares of MRVL opened at $68.35 on Monday. The stock has a 50-day moving average of $58.83 and a two-hundred day moving average of $85.94. Marvell Technology, Inc. has a one year low of $47.09 and a one year high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The stock has a market cap of $59.04 billion, a P/E ratio of -40.21, a P/E/G ratio of 1.61 and a beta of 1.76.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01. Marvell Technology had a negative net margin of 27.49% and a positive return on equity of 4.59%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the previous year, the business posted $0.24 EPS. The business’s quarterly revenue was up 63.3% compared to the same quarter last year. As a group, research analysts predict that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were issued a $0.06 dividend. The ex-dividend date was Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.35%. Marvell Technology’s dividend payout ratio (DPR) is presently -42.11%.

Marvell Technology 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.