Hoertkorn Richard Charles Takes Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Hoertkorn Richard Charles acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 270,659 shares of the semiconductor company's stock, valued at approximately $16,664,000. Marvell Technology accounts for approximately 7.7% of Hoertkorn Richard Charles' investment portfolio, making the stock its 2nd largest holding.

Several other institutional investors and hedge funds have also bought and sold shares of MRVL. Intrepid Financial Planning Group LLC boosted its holdings in shares of Marvell Technology by 0.3% in the fourth quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company's stock worth $2,860,000 after acquiring an additional 90 shares during the period. PDS Planning Inc boosted its holdings in shares of Marvell Technology by 3.3% in the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock worth $319,000 after acquiring an additional 92 shares during the period. Private Trust Co. NA boosted its holdings in shares of Marvell Technology by 2.7% in the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock worth $414,000 after acquiring an additional 97 shares during the period. Tradewinds LLC. boosted its holdings in shares of Marvell Technology by 0.7% in the fourth quarter. Tradewinds LLC. now owns 14,050 shares of the semiconductor company's stock worth $1,552,000 after acquiring an additional 101 shares during the period. Finally, SRS Capital Advisors Inc. boosted its holdings in shares of Marvell Technology by 19.3% in the fourth quarter. SRS Capital Advisors Inc. now owns 693 shares of the semiconductor company's stock worth $77,000 after acquiring an additional 112 shares during the period. 83.51% of the stock is owned by institutional investors.

Marvell Technology Trading Down 3.5%

MRVL stock traded down $2.81 during trading on Friday, hitting $77.16. 27,213,956 shares of the company traded hands, compared to its average volume of 15,462,619. The firm has a market capitalization of $66.65 billion, a PE ratio of 58.90, a P/E/G ratio of 0.84 and a beta of 1.76. Marvell Technology, Inc. has a 1 year low of $47.09 and a 1 year high of $127.48. The company has a 50-day moving average of $64.38 and a 200-day moving average of $82.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 1.30.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.01. The company had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.88 billion. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. Marvell Technology's quarterly revenue was up 63.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.24 EPS. Analysts predict that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.31%. Marvell Technology's payout ratio is presently -42.11%.

Analysts Set New Price Targets

MRVL has been the subject of a number of analyst reports. B. Riley reaffirmed a "buy" rating and issued a $115.00 price target (up from $110.00) on shares of Marvell Technology in a report on Wednesday, June 18th. Raymond James Financial reissued an "outperform" rating and set a $90.00 price objective (down previously from $110.00) on shares of Marvell Technology in a research note on Friday, May 30th. Rosenblatt Securities reissued a "buy" rating and set a $124.00 price objective on shares of Marvell Technology in a research note on Wednesday, June 18th. Loop Capital dropped their price objective on Marvell Technology from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Finally, Summit Insights lowered Marvell Technology from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Six investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $96.33.

Insider Buying and Selling

In related news, CAO Panteha Dixon sold 1,283 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $68.50, for a total value of $87,885.50. Following the sale, the chief accounting officer now directly owns 29,572 shares of the company's stock, valued at $2,025,682. This trade represents a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Chris Koopmans sold 6,000 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $65.10, for a total value of $390,600.00. Following the completion of the sale, the chief operating officer now directly owns 92,065 shares in the company, valued at $5,993,431.50. The trade was a 6.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,394 shares of company stock valued at $1,656,076 over the last ninety days. 0.33% of the stock is owned by insiders.

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.