Tree Line Advisors Hong Kong Ltd. Takes $31.90 Million Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Tree Line Advisors Hong Kong Ltd. purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 450,000 shares of the semiconductor company’s stock, valued at approximately $31,896,000. Marvell Technology accounts for 9.6% of Tree Line Advisors Hong Kong Ltd.’s investment portfolio, making the stock its 7th biggest position. Tree Line Advisors Hong Kong Ltd. owned about 0.05% of Marvell Technology at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in MRVL. Bruce G. Allen Investments LLC increased its position in shares of Marvell Technology by 56.4% in the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 141 shares in the last quarter. Oliver Lagore Vanvalin Investment Group increased its position in shares of Marvell Technology by 46.2% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 165 shares in the last quarter. Salomon & Ludwin LLC bought a new position in Marvell Technology during the 1st quarter worth about $31,000. Optimum Investment Advisors bought a new position in Marvell Technology during the 1st quarter worth about $35,000. Finally, Mark Sheptoff Financial Planning LLC bought a new position in Marvell Technology during the 1st quarter worth about $35,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a report on Friday, May 31st. KeyCorp increased their target price on Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. StockNews.com cut Marvell Technology from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. B. Riley increased their target price on Marvell Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Finally, Evercore ISI raised their price objective on Marvell Technology from $88.00 to $91.00 and gave the company an “outperform” rating in a report on Friday, May 31st. One 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. Based on data from MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus target price of $85.50.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,000 shares of Marvell Technology stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $64.49, for a total value of $64,490.00. Following the transaction, the chief financial officer now directly owns 110,218 shares of the company’s stock, valued at $7,107,958.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Willem A. Meintjes sold 1,000 shares of Marvell Technology stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $64.49, for a total value of $64,490.00. Following the transaction, the chief financial officer now directly owns 110,218 shares of the company’s stock, valued at $7,107,958.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew J. Murphy sold 30,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $69.18, for a total transaction of $2,075,400.00. Following the sale, the chief executive officer now directly owns 686,545 shares in the company, valued at approximately $47,495,183.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,000 shares of company stock valued at $7,255,235. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Stock Performance

MRVL stock traded up $1.73 during mid-day trading on Friday, hitting $65.72. 8,626,610 shares of the company were exchanged, compared to its average volume of 9,849,350. The business has a 50 day simple moving average of $71.35 and a 200-day simple moving average of $69.95. The company has a current ratio of 1.80, a quick ratio of 1.24 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $56.89 billion, a PE ratio of -58.16, a price-to-earnings-growth ratio of 3.11 and a beta of 1.47. Marvell Technology, Inc. has a 1-year low of $46.07 and a 1-year high of $85.76.

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

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 12th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, July 12th. This represents a $0.24 annualized dividend and a dividend yield of 0.37%. Marvell Technology’s dividend 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.