Atria Wealth Solutions Inc. Boosts Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Atria Wealth Solutions Inc. increased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 9.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,258 shares of the semiconductor company's stock after purchasing an additional 4,068 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Marvell Technology were worth $2,971,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Marvell Technology during the fourth quarter worth approximately $234,000. Dynamic Advisor Solutions LLC lifted its stake in Marvell Technology by 5.0% in the first quarter. Dynamic Advisor Solutions LLC now owns 4,313 shares of the semiconductor company's stock valued at $266,000 after buying an additional 206 shares during the last quarter. Yousif Capital Management LLC lifted its stake in Marvell Technology by 8.4% in the first quarter. Yousif Capital Management LLC now owns 15,057 shares of the semiconductor company's stock valued at $927,000 after buying an additional 1,164 shares during the last quarter. Sargent Investment Group LLC lifted its stake in Marvell Technology by 55.7% in the first quarter. Sargent Investment Group LLC now owns 13,392 shares of the semiconductor company's stock valued at $825,000 after buying an additional 4,792 shares during the last quarter. Finally, Edgestream Partners L.P. lifted its stake in Marvell Technology by 1,480.2% in the first quarter. Edgestream Partners L.P. now owns 60,853 shares of the semiconductor company's stock valued at $3,747,000 after buying an additional 57,002 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Morgan Stanley reiterated an "equal weight" rating on shares of Marvell Technology in a research note on Friday. Redburn Atlantic assumed coverage on Marvell Technology in a research note on Wednesday, May 28th. They issued a "neutral" rating and a $67.00 price objective for the company. Benchmark reiterated a "buy" rating and issued a $95.00 price objective on shares of Marvell Technology in a research note on Wednesday, June 18th. Piper Sandler reiterated an "overweight" rating and issued a $85.00 price objective (down previously from $95.00) on shares of Marvell Technology in a research note on Friday, May 30th. Finally, UBS Group reiterated a "buy" rating on shares of Marvell Technology in a research note on Monday, June 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $94.70.

Marvell Technology Stock Up 2.0%

MRVL opened at $77.34 on Friday. The business's fifty day moving average is $72.98 and its two-hundred day moving average is $74.79. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 1.30. The company has a market cap of $66.81 billion, a price-to-earnings ratio of -135.68, a PEG ratio of 0.82 and a beta of 1.83. Marvell Technology, Inc. has a one year low of $47.08 and a one year high of $127.48.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the business earned $0.24 earnings per share. Marvell Technology's quarterly revenue was up 63.3% compared to the same quarter last year. Analysts anticipate that Marvell Technology, Inc. will post 0.91 EPS 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 given a dividend of $0.06 per share. The ex-dividend date was Friday, July 11th. This represents a $0.24 annualized dividend and a yield of 0.3%. Marvell Technology's dividend payout ratio is -42.11%.

Insiders Place Their Bets

In related news, 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 transaction of $390,600.00. Following the sale, the chief operating officer directly owned 92,065 shares in the company, valued at approximately $5,993,431.50. This trade represents a 6.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $68.52, for a total value of $102,780.00. Following the sale, the chief financial officer owned 121,348 shares in the company, valued at approximately $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. Over the last three months, insiders have sold 16,434 shares of company stock valued at $1,097,826. 0.19% of the stock is owned by corporate 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.

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