Lingotto Investment Management LLP Makes New $2.10 Million Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Lingotto Investment Management LLP purchased a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the second quarter, HoldingsChannel reports. The firm purchased 30,000 shares of the semiconductor company’s stock, valued at approximately $2,097,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Diversified Trust Co bought a new position in shares of Marvell Technology during the second quarter worth $932,000. Orion Portfolio Solutions LLC boosted its position in shares of Marvell Technology by 47.1% during the first quarter. Orion Portfolio Solutions LLC now owns 32,191 shares of the semiconductor company’s stock worth $2,282,000 after acquiring an additional 10,306 shares during the last quarter. Hoylecohen LLC bought a new position in shares of Marvell Technology during the fourth quarter worth $658,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Marvell Technology by 20.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 529,127 shares of the semiconductor company’s stock worth $37,505,000 after acquiring an additional 88,918 shares during the last quarter. Finally, Westwood Holdings Group Inc. bought a new position in shares of Marvell Technology during the first quarter worth $6,985,000. Institutional investors own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CEO Matthew J. Murphy sold 6,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $73.29, for a total transaction of $439,740.00. Following the transaction, the chief executive officer now directly owns 208,915 shares in the company, valued at approximately $15,311,380.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $73.87, for a total transaction of $110,805.00. Following the transaction, the chief financial officer now directly owns 111,753 shares in the company, valued at approximately $8,255,194.11. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew J. Murphy sold 6,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $73.29, for a total transaction of $439,740.00. Following the transaction, the chief executive officer now owns 208,915 shares in the company, valued at $15,311,380.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 160,000 shares of company stock worth $11,878,785. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

MRVL has been the subject of a number of research reports. Benchmark upped their target price on shares of Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Barclays upped their price target on shares of Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. KeyCorp upped their price target on shares of Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. B. Riley upped their price target on shares of Marvell Technology from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Finally, TD Cowen raised shares of Marvell Technology to a “strong-buy” rating in a research note on Monday. Two analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $91.62.

Marvell Technology Trading Down 0.9 %

NASDAQ MRVL opened at $72.77 on Wednesday. The company’s 50-day moving average price is $68.20 and its 200-day moving average price is $69.77. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. The stock has a market cap of $62.99 billion, a PE ratio of -64.40, a PEG ratio of 3.29 and a beta of 1.46. Marvell Technology, Inc. has a 12 month low of $46.07 and a 12 month high of $85.76.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 earnings per share. Equities research analysts forecast that Marvell Technology, Inc. will post 0.77 earnings per share for the current year.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Friday, October 11th. Marvell Technology’s payout ratio is presently -21.24%.

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.