Ameritas Advisory Services LLC Sells 5,912 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Ameritas Advisory Services LLC lowered its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 51.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,519 shares of the semiconductor company's stock after selling 5,912 shares during the period. Ameritas Advisory Services LLC's holdings in Marvell Technology were worth $340,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Marvell Technology in the fourth quarter valued at $1,138,354,000. GQG Partners LLC bought a new position in Marvell Technology in the 4th quarter valued at about $802,410,000. Nuveen Asset Management LLC lifted its position in Marvell Technology by 232.2% in the 4th quarter. Nuveen Asset Management LLC now owns 9,360,425 shares of the semiconductor company's stock valued at $1,033,859,000 after acquiring an additional 6,543,132 shares in the last quarter. Wellington Management Group LLP lifted its position in Marvell Technology by 43.1% in the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company's stock valued at $1,374,252,000 after acquiring an additional 3,747,982 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Marvell Technology by 30.1% in the 4th quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock valued at $1,784,649,000 after acquiring an additional 3,737,705 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

Insider Transactions at Marvell Technology

In other news, CAO Panteha Dixon sold 1,286 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $65.00, for a total value of $83,590.00. Following the transaction, the chief accounting officer owned 32,094 shares in the company, valued at $2,086,110. This represents a 3.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $68.52, for a total transaction of $102,780.00. Following the sale, the chief financial officer owned 121,348 shares in the company, valued at $8,314,764.96. The trade was a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,394 shares of company stock valued at $1,656,076 over the last 90 days. 0.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on MRVL shares. Needham & Company LLC restated a "buy" rating and set a $85.00 price objective on shares of Marvell Technology in a research note on Wednesday, June 18th. Barclays dropped their price objective on Marvell Technology from $130.00 to $80.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Melius Research raised their price target on shares of Marvell Technology from $67.00 to $76.00 and gave the company a "hold" rating in a research report on Wednesday, June 18th. Stifel Nicolaus dropped their price target on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, Bank of America lifted their target price 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. Six investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $96.33.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $75.15 on Friday. The stock has a market cap of $64.92 billion, a PE ratio of -131.84, a PEG ratio of 0.80 and a beta of 1.81. The company's fifty day moving average is $66.22 and its 200 day moving average is $82.14. Marvell Technology, Inc. has a 52 week low of $47.09 and a 52 week high of $127.48. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 0.22.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the business earned $0.24 earnings per share. The company's quarterly revenue was up 63.3% on a year-over-year basis. Research analysts anticipate that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Announces Dividend

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 given a dividend of $0.06 per share. The ex-dividend date is Friday, July 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.32%. Marvell Technology's dividend payout ratio (DPR) is -42.11%.

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.

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