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) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 30,000 shares of the semiconductor company’s stock, valued at approximately $2,097,000.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Marvell Technology by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 72,810,448 shares of the semiconductor company’s stock worth $5,160,805,000 after acquiring an additional 468,086 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Marvell Technology by 0.5% during the 4th quarter. Capital Research Global Investors now owns 35,791,266 shares of the semiconductor company’s stock valued at $2,158,601,000 after purchasing an additional 185,479 shares in the last quarter. Matrix Capital Management Company LP boosted its stake in shares of Marvell Technology by 14.3% during the 4th quarter. Matrix Capital Management Company LP now owns 15,055,500 shares of the semiconductor company’s stock valued at $907,997,000 after purchasing an additional 1,888,676 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Marvell Technology by 13.4% during the 1st quarter. Janus Henderson Group PLC now owns 13,478,472 shares of the semiconductor company’s stock valued at $955,400,000 after purchasing an additional 1,591,874 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Marvell Technology by 17.6% during the 2nd quarter. Van ECK Associates Corp now owns 5,901,773 shares of the semiconductor company’s stock valued at $412,533,000 after purchasing an additional 884,380 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $100.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. The Goldman Sachs Group lifted their target price on shares of Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Roth Mkm reaffirmed a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. KeyCorp lifted their price target on shares of Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Finally, Morgan Stanley lifted their price target on shares of Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. Two investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.62.

Insider Activity at Marvell Technology

In other Marvell Technology news, Director Daniel Durn bought 1,425 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was bought at an average cost of $70.21 per share, for a total transaction of $100,049.25. Following the completion of the transaction, the director now owns 1,923 shares of the company’s stock, valued at approximately $135,013.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Marvell Technology news, Director Daniel Durn bought 1,425 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was bought at an average cost of $70.21 per share, for a total transaction of $100,049.25. Following the completion of the transaction, the director now owns 1,923 shares of the company’s stock, valued at approximately $135,013.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $70.07, for a total transaction of $175,175.00. Following the completion of the transaction, the executive vice president now owns 20,450 shares of the company’s stock, valued at $1,432,931.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 160,000 shares of company stock worth $11,878,785. 0.33% of the stock is owned by company insiders.

Marvell Technology Stock Down 0.9 %

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

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

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.24 annualized dividend and a yield of 0.33%. Marvell Technology’s dividend payout ratio (DPR) is -21.24%.

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.