Lynx Investment Advisory Makes New Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Lynx Investment Advisory purchased a new position in Marvell Technology, Inc. (NASDAQ:MRVL) during the 2nd quarter, HoldingsChannel reports. The firm purchased 1,768 shares of the semiconductor company’s stock, valued at approximately $124,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in Marvell Technology during the 4th quarter worth about $511,215,000. Lazard Asset Management LLC raised its holdings in Marvell Technology by 47,934.4% during the 1st quarter. Lazard Asset Management LLC now owns 4,001,745 shares of the semiconductor company’s stock worth $283,643,000 after buying an additional 3,993,414 shares during the period. Brown Advisory Inc. raised its holdings in Marvell Technology by 25.9% during the 4th quarter. Brown Advisory Inc. now owns 14,764,957 shares of the semiconductor company’s stock worth $890,475,000 after buying an additional 3,036,495 shares during the period. Aspex Management HK Ltd raised its holdings in Marvell Technology by 103.8% during the 4th quarter. Aspex Management HK Ltd now owns 5,712,564 shares of the semiconductor company’s stock worth $344,525,000 after buying an additional 2,908,912 shares during the period. Finally, Whale Rock Capital Management LLC acquired a new position in shares of Marvell Technology in the 1st quarter valued at about $181,559,000. 83.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MRVL shares. B. Riley increased their price target on shares of Marvell Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. StockNews.com lowered shares of Marvell Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Morgan Stanley increased their price target on shares of Marvell Technology from $71.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Friday, May 31st. KeyCorp increased their price target on shares of Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Finally, Barclays increased their price target on shares of Marvell Technology from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.50.

Insider Buying and Selling

In related news, EVP Chris Koopmans sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $68.57, for a total value of $342,850.00. Following the completion of the transaction, the executive vice president now directly owns 119,719 shares of the company’s stock, valued at $8,209,131.83. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Matthew J. Murphy sold 30,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $69.18, for a total value of $2,075,400.00. Following the completion of the transaction, the chief executive officer now directly owns 686,545 shares of the company’s stock, valued at $47,495,183.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Chris Koopmans sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $68.57, for a total value of $342,850.00. Following the completion of the transaction, the executive vice president now directly owns 119,719 shares of the company’s stock, valued at $8,209,131.83. The disclosure for this sale can be found here. Insiders sold a total of 99,000 shares of company stock valued at $7,190,745 over the last ninety days. 0.33% of the stock is owned by company insiders.

Marvell Technology Stock Performance

Shares of MRVL traded up $0.55 during mid-day trading on Tuesday, hitting $58.22. The company’s stock had a trading volume of 11,078,204 shares, compared to its average volume of 12,654,482. Marvell Technology, Inc. has a one year low of $46.07 and a one year high of $85.76. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.24 and a current ratio of 1.80. The firm has a market capitalization of $50.40 billion, a PE ratio of -51.52, a price-to-earnings-growth ratio of 2.99 and a beta of 1.47. The stock’s 50-day moving average is $69.43 and its two-hundred day moving average is $69.71.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share for the quarter, meeting the consensus estimate of $0.24. Marvell Technology had a positive return on equity of 4.51% and a negative net margin of 18.33%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the business earned $0.17 earnings per share. Marvell Technology’s revenue for the quarter was down 12.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Marvell Technology, Inc. will post 0.75 EPS for the current year.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 12th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, July 12th. This represents a $0.24 annualized dividend and a yield of 0.41%. Marvell Technology’s dividend payout ratio (DPR) is currently -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.