5,620 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Purchased by BXM Wealth LLC

BXM Wealth LLC acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the 1st quarter, according to the company in its most recent 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 have also bought and sold shares of MRVL. Rialto Wealth Management LLC bought a new stake in Marvell Technology during the 4th quarter valued at $27,000. Rossby Financial LCC bought a new stake in Marvell Technology during the 1st quarter valued at $27,000. Security National Bank bought a new stake in Marvell Technology during the 1st quarter valued at $31,000. Lee Danner & Bass Inc. bought a new stake in Marvell Technology during the 4th quarter valued at $35,000. Finally, Capital Analysts LLC raised its holdings in Marvell Technology by 236.3% during the 4th quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 241 shares during the period. Hedge funds and other institutional investors own 83.51% of the company's stock.

Marvell Technology Trading Down 1.1%

NASDAQ MRVL traded down $0.82 during trading on Friday, hitting $72.49. 3,246,093 shares of the company's stock traded hands, compared to its average volume of 15,729,733. The stock has a fifty day moving average of $67.59 and a two-hundred day moving average of $80.84. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.30 and a quick ratio of 0.94. Marvell Technology, Inc. has a 12-month low of $47.09 and a 12-month high of $127.48. The firm has a market cap of $62.61 billion, a P/E ratio of -127.11, a PEG ratio of 0.78 and a beta of 1.81.

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

Marvell Technology Dividend Announcement

The company 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 dividend of $0.06 per share. The ex-dividend date is Friday, July 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.33%. Marvell Technology's dividend payout ratio is currently -42.11%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MRVL shares. Piper Sandler reissued an "overweight" rating and set a $85.00 target price (down previously from $95.00) on shares of Marvell Technology in a report on Friday, May 30th. Melius Research boosted their target price on shares of Marvell Technology from $67.00 to $76.00 and gave the company a "hold" rating in a report on Wednesday, June 18th. B. Riley reaffirmed a "buy" rating and issued a $115.00 price target (up previously from $110.00) on shares of Marvell Technology in a report on Wednesday, June 18th. Barclays decreased their price target on shares of Marvell Technology from $130.00 to $80.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Finally, Bank of America upped their price target on shares of Marvell Technology from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. Seven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Marvell Technology currently has an average rating of "Moderate Buy" and a consensus target price of $94.47.

Insider Activity

In other 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 completion of the sale, the chief financial officer directly owned 121,348 shares in the company, valued at approximately $8,314,764.96. This represents a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark Casper sold 626 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $61.10, for a total transaction of $38,248.60. Following the sale, the executive vice president owned 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,394 shares of company stock valued at $1,656,076. Company insiders own 0.19% of the company's stock.

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.