16,175 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Bought by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 16,175 shares of the semiconductor company's stock, valued at approximately $996,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Intrepid Financial Planning Group LLC increased its holdings in Marvell Technology by 0.3% in the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company's stock valued at $2,860,000 after purchasing an additional 90 shares during the last quarter. PDS Planning Inc boosted its position in Marvell Technology by 3.3% in the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock valued at $319,000 after buying an additional 92 shares during the period. Lodestone Wealth Management LLC boosted its position in Marvell Technology by 2.0% in the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company's stock valued at $514,000 after buying an additional 93 shares during the period. Private Trust Co. NA boosted its position in Marvell Technology by 2.7% in the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock valued at $414,000 after buying an additional 97 shares during the period. Finally, Tradewinds LLC. boosted its position in Marvell Technology by 0.7% in the 4th quarter. Tradewinds LLC. now owns 14,050 shares of the semiconductor company's stock valued at $1,552,000 after buying an additional 101 shares during the period. Institutional investors and hedge funds own 83.51% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on MRVL. Rosenblatt Securities reissued a "buy" rating and issued a $124.00 price target on shares of Marvell Technology in a research report on Friday, May 30th. Benchmark reaffirmed a "buy" rating and set a $95.00 price objective on shares of Marvell Technology in a research report on Friday, May 30th. Piper Sandler reaffirmed an "overweight" rating and set a $85.00 price objective (down from $95.00) on shares of Marvell Technology in a research report on Friday, May 30th. China Renaissance initiated coverage on shares of Marvell Technology in a research report on Thursday, June 5th. They set a "buy" rating and a $110.00 price objective for the company. Finally, B. Riley decreased their price objective on shares of Marvell Technology from $135.00 to $110.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Seven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $94.73.

Insider Activity

In other news, EVP Mark Casper sold 12,460 shares of Marvell Technology stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $685,300.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $103,245.00. Following the completion of the sale, the chief financial officer now owns 113,592 shares in the company, valued at $7,818,537.36. This trade represents a 1.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,541 shares of company stock worth $2,079,948 over the last ninety days. Insiders own 0.19% of the company's stock.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL traded down $2.45 during trading hours on Friday, hitting $67.19. 14,146,733 shares of the stock were exchanged, compared to its average volume of 14,765,209. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a one year low of $47.09 and a one year high of $127.48. The company's 50 day moving average is $60.30 and its 200 day moving average is $85.17. The firm has a market capitalization of $58.04 billion, a P/E ratio of -39.52, a P/E/G ratio of 1.61 and a beta of 1.76.

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 analysts' consensus estimates of $0.61 by $0.01. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. Marvell Technology had a negative net margin of 27.49% and a positive return on equity of 4.59%. The firm's revenue for the quarter was up 63.3% compared to the same quarter last year. During the same period last year, the firm earned $0.24 EPS. On average, research analysts expect that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, July 11th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.36%. Marvell Technology's 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.