Rosenberg Matthew Hamilton purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL – Get Rating) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,293 shares of the semiconductor company's stock, valued at approximately $55,000.

Several other hedge funds and other institutional investors also recently modified their holdings of MRVL. American International Group Inc. boosted its holdings in shares of Marvell Technology by 1.9% during the fourth quarter. American International Group Inc. now owns 61,862 shares of the semiconductor company's stock valued at $5,412,000 after acquiring an additional 1,144 shares during the period. Gotham Asset Management LLC acquired a new position in shares of Marvell Technology during the fourth quarter valued at $249,000. Rockefeller Capital Management L.P. boosted its holdings in shares of Marvell Technology by 27.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 57,913 shares of the semiconductor company's stock valued at $5,066,000 after acquiring an additional 12,338 shares during the period. Mutual Advisors LLC boosted its holdings in shares of Marvell Technology by 161.1% during the fourth quarter. Mutual Advisors LLC now owns 10,271 shares of the semiconductor company's stock valued at $899,000 after acquiring an additional 6,338 shares during the period. Finally, Pitcairn Co. acquired a new position in shares of Marvell Technology during the fourth quarter valued at $246,000. Institutional investors and hedge funds own 80.95% of the company's stock.

Analyst Ratings Changes

MRVL has been the subject of several research analyst reports. KeyCorp reduced their price objective on shares of Marvell Technology from $90.00 to $75.00 and set an "overweight" rating for the company in a report on Friday, August 26th. Morgan Stanley reduced their price objective on shares of Marvell Technology from $62.00 to $60.00 and set an "equal weight" rating for the company in a report on Friday, August 26th. Barclays reduced their price objective on shares of Marvell Technology from $80.00 to $60.00 and set an "overweight" rating for the company in a report on Monday, July 25th. Exane BNP Paribas initiated coverage on shares of Marvell Technology in a report on Tuesday, September 13th. They issued an "outperform" rating for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Marvell Technology from $75.00 to $65.00 in a report on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $81.21.

Marvell Technology Trading Down 0.5 %

Marvell Technology (NASDAQ:MRVL – Get Rating) last announced its quarterly earnings results on Thursday, August 25th. The semiconductor company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.56 by $0.01. The business had revenue of $1.52 billion during the quarter, compared to analysts' expectations of $1.52 billion. Marvell Technology had a positive return on equity of 7.94% and a negative net margin of 3.95%. The firm's quarterly revenue was up 41.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 EPS. As a group, sell-side analysts forecast that Marvell Technology, Inc. will post 1.61 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Friday, October 7th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.55%. Marvell Technology's payout ratio is -92.31%.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Dan Christman sold 14,000 shares of the company's stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $57.28, for a total transaction of $801,920.00. Following the completion of the sale, the executive vice president now owns 92,203 shares of the company's stock, valued at $5,281,387.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Marvell Technology news, EVP Dan Christman sold 14,000 shares of the company's stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $57.28, for a total transaction of $801,920.00. Following the completion of the sale, the executive vice president now owns 92,203 shares of the company's stock, valued at $5,281,387.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mitchell Gaynor sold 5,000 shares of the company's stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $47.67, for a total value of $238,350.00. Following the sale, the executive vice president now directly owns 115,563 shares of the company's stock, valued at approximately $5,508,888.21. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,000 shares of company stock valued at $1,279,020. 0.45% of the stock is owned by corporate insiders.

About Marvell Technology

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Marvell Technology, Inc, together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors.

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