Washburn Capital Management Inc. boosted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL – Get Rating) by 7.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,505 shares of the semiconductor company's stock after buying an additional 375 shares during the period. Washburn Capital Management Inc.'s holdings in Marvell Technology were worth $240,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of MRVL. O Shaughnessy Asset Management LLC lifted its holdings in Marvell Technology by 46.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,291 shares of the semiconductor company's stock worth $725,000 after buying an additional 2,618 shares during the period. American International Group Inc. lifted its holdings in shares of Marvell Technology by 1.9% during the 4th quarter. American International Group Inc. now owns 61,862 shares of the semiconductor company's stock valued at $5,412,000 after purchasing an additional 1,144 shares during the last quarter. Hilltop Holdings Inc. lifted its holdings in shares of Marvell Technology by 33.5% during the 4th quarter. Hilltop Holdings Inc. now owns 7,675 shares of the semiconductor company's stock valued at $671,000 after purchasing an additional 1,925 shares during the last quarter. Gotham Asset Management LLC purchased a new stake in shares of Marvell Technology during the 4th quarter valued at $249,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of Marvell Technology by 27.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 57,913 shares of the semiconductor company's stock valued at $5,066,000 after purchasing an additional 12,338 shares during the last quarter. Hedge funds and other institutional investors own 80.95% of the company's stock.
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Analyst Upgrades and Downgrades
Several brokerages have recently commented on MRVL. Wells Fargo & Company decreased their price objective on Marvell Technology from $65.00 to $58.00 and set an "equal weight" rating for the company in a report on Friday, August 26th. B. Riley lowered Marvell Technology from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $75.00 to $63.00 in a research note on Wednesday, June 15th. KeyCorp reduced their target price on Marvell Technology from $90.00 to $75.00 and set an "overweight" rating for the company in a research note on Friday, August 26th. Craig Hallum reduced their target price on Marvell Technology to $90.00 in a research note on Friday, May 27th. Finally, Barclays reduced their target price on Marvell Technology from $80.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, July 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have given a buy rating to the company. According to data from MarketBeat.com, Marvell Technology has a consensus rating of "Moderate Buy" and a consensus price target of $81.21.
Marvell Technology Price Performance
MRVL stock traded down $0.82 during trading on Friday, hitting $42.70. The stock had a trading volume of 431,504 shares, compared to its average volume of 10,725,321. The company has a current ratio of 1.35, a quick ratio of 0.93 and a debt-to-equity ratio of 0.25. Marvell Technology, Inc. has a twelve month low of $41.07 and a twelve month high of $93.85. The company's 50-day moving average price is $50.95 and its two-hundred day moving average price is $55.56.
Marvell Technology (NASDAQ:MRVL – Get Rating) last posted its quarterly earnings data on Thursday, August 25th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.01. Marvell Technology had a positive return on equity of 7.94% and a negative net margin of 3.95%. The company had revenue of $1.52 billion for the quarter, compared to analysts' expectations of $1.52 billion. During the same period in the previous year, the firm posted $0.21 EPS. Marvell Technology's revenue was up 41.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Marvell Technology, Inc. will post 1.61 EPS for the current fiscal year.
Insiders Place Their Bets
In other Marvell Technology news, EVP Dan Christman sold 14,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $57.28, for a total value of $801,920.00. Following the transaction, the executive vice president now directly owns 92,203 shares of the company's stock, valued at approximately $5,281,387.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Dan Christman sold 14,000 shares of Marvell Technology stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $57.28, for a total transaction of $801,920.00. Following the sale, the executive vice president now owns 92,203 shares of the company's stock, valued at approximately $5,281,387.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mitchell Gaynor sold 5,000 shares of Marvell Technology stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $47.75, for a total transaction of $238,750.00. Following the sale, the executive vice president now directly owns 108,429 shares in the company, valued at approximately $5,177,484.75. The disclosure for this sale can be found here. Insiders have sold 24,000 shares of company stock valued at $1,279,020 in the last ninety days. 0.45% of the stock is currently owned by corporate insiders.
Marvell Technology Profile
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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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