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.
View Our Latest Analysis on Marvell Technology
Marvell Technology Company Profile
(
Free Report)
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.
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