Arkadios Wealth Advisors Boosts Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Key Points

• Arkadios Wealth Advisors increased its stake in Marvell Technology by 177.1% during the first quarter, owning 15,993 shares valued at approximately $985,000.
• Marvell Technology announced a quarterly dividend of $0.06 per share, representing a 0.3% yield, with a negative payout ratio of -42.11%.
• Shares of Marvell Technology recently opened at $74.45, having a 52-week price range of $47.08 to $127.48 and a market capitalization of $64.31 billion.

Arkadios Wealth Advisors raised its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 177.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,993 shares of the semiconductor company's stock after purchasing an additional 10,222 shares during the quarter. Arkadios Wealth Advisors' holdings in Marvell Technology were worth $985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Hughes Financial Services LLC bought a new stake in Marvell Technology during the first quarter worth about $26,000. Rossby Financial LCC bought a new stake in Marvell Technology in the 1st quarter worth approximately $27,000. Security National Bank bought a new stake in Marvell Technology in the 1st quarter worth approximately $31,000. Capital Analysts LLC lifted its position in Marvell Technology by 236.3% in the 4th quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock worth $38,000 after buying an additional 241 shares during the last quarter. Finally, Garde Capital Inc. bought a new stake in Marvell Technology in the 1st quarter worth approximately $39,000. 83.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MRVL shares. TD Cowen boosted their price objective on shares of Marvell Technology from $60.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Rosenblatt Securities reissued a "buy" rating and issued a $124.00 price target on shares of Marvell Technology in a research note on Wednesday, June 18th. Evercore ISI lowered their price target on shares of Marvell Technology from $135.00 to $133.00 and set an "outperform" rating for the company in a research note on Friday, May 30th. Piper Sandler reissued an "overweight" rating and issued a $85.00 target price (down previously from $95.00) on shares of Marvell Technology in a research note on Friday, May 30th. Finally, KeyCorp lowered their target price on Marvell Technology from $115.00 to $90.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $94.70.

Marvell Technology Price Performance

MRVL traded up $2.08 during trading on Monday, hitting $76.53. 11,851,922 shares of the company traded hands, compared to its average volume of 17,649,744. The company has a market cap of $66.11 billion, a PE ratio of 56.83, a P/E/G ratio of 0.81 and a beta of 1.83. The stock's 50-day simple moving average is $71.59 and its two-hundred day simple moving average is $75.78. 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 quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.88 billion. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. The business's quarterly revenue was up 63.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 earnings per share. As a group, sell-side analysts anticipate 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 was paid on Thursday, July 31st. Investors of record on Friday, July 11th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, July 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. Marvell Technology's dividend payout ratio (DPR) is -42.11%.

Insider Buying and Selling at Marvell Technology

In related news, CAO Panteha Dixon sold 1,286 shares of the firm's stock in a transaction 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 completion of the transaction, the chief accounting officer directly owned 32,094 shares of the company's stock, valued at approximately $2,086,110. This trade represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Monday, June 16th. The stock was sold at an average price of $68.52, for a total transaction of $102,780.00. Following the completion of the transaction, the chief financial officer directly owned 121,348 shares of the company's stock, 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. In the last ninety days, insiders sold 16,434 shares of company stock valued at $1,097,826. 0.33% of the stock is owned by company insiders.

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.