Caliber Wealth Management LLC KS Makes New Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Key Points

• Caliber Wealth Management LLC KS purchased 5,390 shares of Marvell Technology, valued at approximately $332,000, indicating growing institutional interest in the semiconductor company.
• Marvell Technology reported a quarterly earnings per share (EPS) of $0.62, surpassing estimates and demonstrating a 63.3% year-over-year revenue increase to $1.90 billion.
• The company announced a quarterly dividend of $0.06 per share, set to be paid on July 31st, reflecting its ongoing commitment to returning value to shareholders.

Caliber Wealth Management LLC KS bought a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,390 shares of the semiconductor company's stock, valued at approximately $332,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MRVL. Bank Pictet & Cie Europe AG lifted its position in Marvell Technology by 0.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 66,710 shares of the semiconductor company's stock valued at $7,368,000 after purchasing an additional 460 shares during the period. Congress Wealth Management LLC DE acquired a new position in shares of Marvell Technology in the fourth quarter worth about $1,234,000. EntryPoint Capital LLC acquired a new position in shares of Marvell Technology in the fourth quarter worth about $306,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Marvell Technology by 10.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 709,998 shares of the semiconductor company's stock worth $83,908,000 after acquiring an additional 65,922 shares during the period. Finally, NEOS Investment Management LLC raised its position in shares of Marvell Technology by 20.8% in the fourth quarter. NEOS Investment Management LLC now owns 61,612 shares of the semiconductor company's stock worth $6,805,000 after acquiring an additional 10,600 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Stock Performance

Shares of NASDAQ:MRVL traded up $0.17 during midday trading on Friday, hitting $74.21. The stock had a trading volume of 9,813,678 shares, compared to its average volume of 16,248,888. The company has a market capitalization of $64.10 billion, a PE ratio of -130.19, a P/E/G ratio of 0.80 and a beta of 1.81. The stock has a 50 day moving average price of $69.95 and a two-hundred day moving average price of $77.67. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. Marvell Technology, Inc. has a 1 year low of $47.08 and a 1 year high of $127.48.

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 business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. Marvell Technology had a negative net margin of 7.56% and a positive return on equity of 8.42%. The business's quarterly revenue was up 63.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 earnings per share. As a group, equities analysts predict that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently disclosed 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. This represents a $0.24 annualized dividend and a dividend yield of 0.32%. The ex-dividend date is Friday, July 11th. Marvell Technology's dividend payout ratio (DPR) is -42.11%.

Insider Activity at Marvell Technology

In related news, CAO Panteha Dixon sold 1,283 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $68.50, for a total value of $87,885.50. Following the completion of the sale, the chief accounting officer owned 29,572 shares in the company, valued at $2,025,682. This trade represents a 4.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Casper sold 3,000 shares of the firm's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $72.35, for a total transaction of $217,050.00. Following the completion of the sale, the executive vice president owned 17,163 shares of the company's stock, valued at $1,241,743.05. This trade represents a 14.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,934 shares of company stock worth $1,187,826 over the last three months. 0.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

MRVL has been the subject of a number of analyst reports. China Renaissance initiated coverage on shares of Marvell Technology in a research report on Thursday, June 5th. They issued a "buy" rating and a $110.00 price objective for the company. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Marvell Technology from $100.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Bank of America upped their price objective on shares of Marvell Technology from $80.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Melius downgraded shares of Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 price target for the company. in a research report on Thursday, May 22nd. Finally, Citigroup reduced their price target on shares of Marvell Technology from $122.00 to $96.00 and set a "buy" rating for the company in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Marvell Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $94.47.

About Marvell Technology

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.