Avanza Fonder AB Increases Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Avanza Fonder AB boosted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 14.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,536 shares of the semiconductor company's stock after buying an additional 10,421 shares during the quarter. Avanza Fonder AB's holdings in Marvell Technology were worth $5,282,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Centricity Wealth Management LLC bought a new stake in Marvell Technology during the fourth quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Marvell Technology during the fourth quarter valued at about $27,000. Lee Danner & Bass Inc. bought a new stake in shares of Marvell Technology in the 4th quarter valued at about $35,000. Capital Analysts LLC grew its position in shares of 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, Sierra Ocean LLC bought a new position in shares of Marvell Technology during the 4th quarter worth approximately $44,000. Institutional investors own 83.51% of the company's stock.

Insider Transactions at Marvell Technology

In related news, EVP Mark Casper sold 626 shares of the company's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $61.10, for a total value of $38,248.60. Following the completion of the sale, the executive vice president now owns 626 shares of the company's stock, valued at approximately $38,248.60. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Panteha Dixon sold 1,239 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $65.01, for a total transaction of $80,547.39. Following the completion of the sale, the chief accounting officer now directly owns 30,855 shares of the company's stock, valued at approximately $2,005,883.55. This trade represents a 3.86% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,541 shares of company stock valued at $2,079,948. Corporate insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Cantor Fitzgerald restated a "neutral" rating and issued a $60.00 target price on shares of Marvell Technology in a research note on Friday, May 30th. KeyCorp dropped their target price on Marvell Technology from $115.00 to $90.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. Raymond James reissued an "outperform" rating and issued a $90.00 price target (down previously from $110.00) on shares of Marvell Technology in a report on Friday, May 30th. Rosenblatt Securities restated a "buy" rating and set a $124.00 price target on shares of Marvell Technology in a research note on Friday, May 30th. Finally, Morgan Stanley increased their price objective on shares of Marvell Technology from $70.00 to $73.00 and gave the company an "equal weight" rating in a research report on Friday, May 30th. Seven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $94.73.

Marvell Technology Price Performance

Shares of MRVL stock traded down $0.60 on Wednesday, reaching $68.24. 13,859,792 shares of the company were exchanged, compared to its average volume of 14,737,422. Marvell Technology, Inc. has a 1 year low of $47.09 and a 1 year high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The business has a 50-day moving average price of $59.59 and a 200 day moving average price of $85.54. The company has a market cap of $58.95 billion, a price-to-earnings ratio of -40.14, a P/E/G ratio of 1.61 and a beta of 1.76.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released 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. Marvell Technology had a positive return on equity of 4.59% and a negative net margin of 27.49%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the business posted $0.24 earnings per share. The business's quarterly revenue was up 63.3% compared to the same quarter last year. Equities research analysts forecast that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology's dividend payout ratio is currently -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.