BXM Wealth LLC Takes $346,000 Position in Marvell Technology, Inc. (NASDAQ:MRVL)

BXM Wealth LLC acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,620 shares of the semiconductor company's stock, valued at approximately $346,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Rialto Wealth Management LLC bought a new position in Marvell Technology in the 4th quarter worth approximately $27,000. Rossby Financial LCC acquired a new stake in shares of Marvell Technology during the 1st quarter valued at $27,000. Security National Bank purchased a new stake in shares of Marvell Technology in the first quarter valued at $31,000. Lee Danner & Bass Inc. purchased a new stake in shares of Marvell Technology in the fourth quarter valued at $35,000. Finally, Capital Analysts LLC lifted its holdings in shares of Marvell Technology by 236.3% in the fourth quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 241 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $68.52, for a total transaction of $102,780.00. Following the transaction, the chief financial officer directly owned 121,348 shares in the company, valued at $8,314,764.96. This represents a 1.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Casper sold 626 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $61.10, for a total transaction of $38,248.60. Following the sale, the executive vice president directly owned 626 shares of the company's stock, valued at approximately $38,248.60. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,394 shares of company stock worth $1,656,076 in the last ninety days. Company insiders own 0.19% of the company's stock.

Marvell Technology Trading Up 1.5%

Marvell Technology stock traded up $1.10 during trading hours on Thursday, reaching $73.36. The stock had a trading volume of 11,242,012 shares, compared to its average volume of 15,749,166. The stock has a market cap of $63.37 billion, a PE ratio of -128.70, a PEG ratio of 0.78 and a beta of 1.81. Marvell Technology, Inc. has a 52 week low of $47.09 and a 52 week high of $127.48. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.30 and a quick ratio of 0.94. The company has a fifty day simple moving average of $67.34 and a 200-day simple moving average of $81.12.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. The company had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.88 billion. Marvell Technology had a negative net margin of 7.56% and a positive return on equity of 8.42%. Marvell Technology's revenue was up 63.3% on a year-over-year basis. During the same period last year, the company posted $0.24 EPS. Analysts forecast that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Friday, July 11th. Marvell Technology's dividend payout ratio (DPR) is presently -42.11%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MRVL shares. Bank of America increased their price objective on Marvell Technology from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. Wells Fargo & Company lowered their price target on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. The Goldman Sachs Group initiated coverage on Marvell Technology in a research report on Thursday. They set a "neutral" rating and a $75.00 target price on the stock. Raymond James Financial reissued an "outperform" rating and set a $90.00 target price (down from $110.00) on shares of Marvell Technology in a research report on Friday, May 30th. Finally, UBS Group reaffirmed a "buy" rating on shares of Marvell Technology in a report on Monday, June 2nd. Seven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Marvell Technology presently has a consensus rating of "Moderate Buy" and an average target price of $94.47.

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.