Capital Investment Counsel Inc Acquires 12,588 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Capital Investment Counsel Inc increased its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 200.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,883 shares of the semiconductor company's stock after purchasing an additional 12,588 shares during the quarter. Capital Investment Counsel Inc's holdings in Marvell Technology were worth $1,163,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MRVL. Rialto Wealth Management LLC bought a new position in Marvell Technology during the fourth quarter worth $27,000. Lee Danner & Bass Inc. bought a new stake in Marvell Technology during the 4th quarter worth approximately $35,000. Capital Analysts LLC boosted its stake in shares of Marvell Technology by 236.3% in the 4th 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. Chelsea Counsel Co. bought a new stake in Marvell Technology during the 4th quarter valued at $44,000. Finally, Bernard Wealth Management Corp. bought a new position in Marvell Technology in the 4th quarter worth $45,000. 83.51% of the stock is owned by institutional investors.

Marvell Technology Stock Up 1.2%

Marvell Technology stock traded up $0.90 during mid-day trading on Thursday, reaching $75.15. 10,217,992 shares of the company's stock were exchanged, compared to its average volume of 15,647,810. The company has a market cap of $64.92 billion, a P/E ratio of 56.68, a P/E/G ratio of 0.80 and a beta of 1.81. Marvell Technology, Inc. has a twelve month low of $47.09 and a twelve month high of $127.48. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average of $65.86 and a 200-day moving average of $82.48.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. The company had revenue of $1.90 billion for 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%. Marvell Technology's quarterly revenue was up 63.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.24 earnings per share. Sell-side analysts expect that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.32%. Marvell Technology's payout ratio is currently -42.11%.

Analyst Ratings Changes

MRVL has been the topic of a number of recent analyst reports. KeyCorp dropped their price target on shares of Marvell Technology from $115.00 to $90.00 and set an "overweight" rating on the stock in a report on Friday, May 30th. Summit Insights lowered Marvell Technology from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. UBS Group reissued a "buy" rating on shares of Marvell Technology in a research report on Monday, June 2nd. Melius Research boosted their price target 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. Finally, Cantor Fitzgerald boosted their target price on shares of Marvell Technology from $60.00 to $75.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th. Six equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $96.33.

Insider Activity

In other news, CAO Panteha Dixon sold 1,283 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $68.50, for a total value of $87,885.50. Following the completion of the transaction, the chief accounting officer owned 29,572 shares in the company, valued at approximately $2,025,682. This represents a 4.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark Casper sold 626 shares of the company's 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 completion of the sale, the executive vice president directly owned 626 shares in the company, valued at approximately $38,248.60. The trade was a 50.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,394 shares of company stock valued at $1,656,076. 0.19% of the stock is owned by company insiders.

About Marvell Technology

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.