BXM Wealth LLC Acquires Shares of 5,620 Marvell Technology, Inc. (NASDAQ:MRVL)

BXM Wealth LLC purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,620 shares of the semiconductor company's stock, valued at approximately $346,000.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Marvell Technology during the 4th quarter worth approximately $1,138,354,000. GQG Partners LLC acquired a new stake in shares of Marvell Technology during the 4th quarter worth approximately $802,410,000. Nuveen Asset Management LLC grew its stake in shares of Marvell Technology by 232.2% during the 4th quarter. Nuveen Asset Management LLC now owns 9,360,425 shares of the semiconductor company's stock worth $1,033,859,000 after purchasing an additional 6,543,132 shares during the period. Wellington Management Group LLP grew its stake in shares of Marvell Technology by 43.1% during the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company's stock worth $1,374,252,000 after purchasing an additional 3,747,982 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Marvell Technology by 30.1% during the 4th quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock worth $1,784,649,000 after purchasing an additional 3,737,705 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Trading Down 0.1%

MRVL traded down $0.08 on Wednesday, hitting $71.87. The company had a trading volume of 9,899,453 shares, compared to its average volume of 19,025,166. The firm has a market cap of $62.08 billion, a P/E ratio of -126.06, a PEG ratio of 0.78 and a beta of 1.81. Marvell Technology, Inc. has a 1 year low of $47.08 and a 1 year high of $127.48. The company's fifty day moving average price is $67.07 and its 200 day moving average price is $81.18. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22.

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. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. Marvell Technology's revenue was up 63.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS. As a group, equities analysts expect that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Friday, July 11th. Marvell Technology's dividend payout ratio is presently -42.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MRVL shares. Melius Research raised their price objective on shares of Marvell Technology from $67.00 to $76.00 and gave the stock a "hold" rating in a research note on Wednesday, June 18th. UBS Group reissued a "buy" rating on shares of Marvell Technology in a research note on Monday, June 2nd. Evercore ISI dropped their price target on shares of Marvell Technology from $135.00 to $133.00 and set an "outperform" rating on the stock in a research note on Friday, May 30th. Piper Sandler reissued an "overweight" rating and issued a $85.00 price target (down previously from $95.00) on shares of Marvell Technology in a research note on Friday, May 30th. Finally, Barclays dropped their price target on shares of Marvell Technology from $130.00 to $80.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Six research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $96.33.

Insider Buying and Selling

In other news, EVP Mark Casper sold 12,460 shares of the business's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $685,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Chris Koopmans sold 6,000 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $65.10, for a total value of $390,600.00. Following the transaction, the chief operating officer directly owned 92,065 shares of the company's stock, valued at approximately $5,993,431.50. This represents a 6.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,394 shares of company stock valued at $1,656,076. Corporate insiders own 0.33% of the company's stock.

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.