Earned Wealth Advisors LLC Invests $225,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Key Points

• Earned Wealth Advisors LLC invested $225,000 in Marvell Technology, acquiring 3,650 shares during the first quarter, indicating growing institutional interest in the semiconductor stock.
• Recent insider trading reports show that Marvell's COO sold 6,000 shares for approximately $390,600, reflecting a 6.12% decrease in his holdings.
• Analysts have mixed views on Marvell, with average price targets ranging from $60 to $115, and a consensus rating of "Moderate Buy."

Earned Wealth Advisors LLC acquired a new position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,650 shares of the semiconductor company's stock, valued at approximately $225,000.

Several other institutional investors have also recently made changes to their positions in MRVL. Hughes Financial Services LLC purchased a new position in shares of Marvell Technology in the first quarter worth $26,000. Rossby Financial LCC purchased a new position in shares of Marvell Technology in the first quarter worth $27,000. Security National Bank purchased a new position in shares of Marvell Technology in the first quarter worth $31,000. Capital Analysts LLC raised its stake in Marvell Technology by 236.3% during 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. Finally, Garde Capital Inc. purchased a new stake in Marvell Technology during the first quarter valued at $39,000. Institutional investors own 83.51% of the company's stock.

Insider Buying and Selling

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $65.10, for a total transaction of $390,600.00. Following the completion of the sale, the chief operating officer owned 92,065 shares in the company, valued at $5,993,431.50. This trade represents a 6.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Panteha Dixon sold 1,283 shares of the firm's stock in a transaction that occurred 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 sale, the chief accounting officer owned 29,572 shares of the company's stock, valued at approximately $2,025,682. This trade represents a 4.16% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,434 shares of company stock valued at $1,097,826. Corporate insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

MRVL has been the topic of a number of recent research reports. Loop Capital decreased their price target on shares of Marvell Technology from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. B. Riley reaffirmed a "buy" rating and set a $115.00 price target (up previously from $110.00) on shares of Marvell Technology in a research note on Wednesday, June 18th. Raymond James Financial reaffirmed an "outperform" rating and set a $90.00 price target (down previously from $110.00) on shares of Marvell Technology in a research note on Friday, May 30th. Cantor Fitzgerald increased their target price on shares of Marvell Technology from $60.00 to $75.00 and gave the company a "neutral" rating in a research note on Wednesday, June 18th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $85.00 price target (down from $95.00) on shares of Marvell Technology in a research note on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Marvell Technology currently has an average rating of "Moderate Buy" and an average price target of $94.70.

Marvell Technology Stock Up 2.8%

Shares of NASDAQ:MRVL opened at $76.53 on Tuesday. The stock's 50-day moving average price is $71.91 and its two-hundred day moving average price is $75.44. 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, Inc. has a 12-month low of $47.08 and a 12-month high of $127.48. The firm has a market cap of $66.11 billion, a price-to-earnings ratio of -134.26, a PEG ratio of 0.81 and a beta of 1.83.

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, topping analysts' consensus estimates of $0.61 by $0.01. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. The firm's quarterly revenue was up 63.3% on a year-over-year basis. During the same period last year, the company earned $0.24 EPS. On average, research analysts forecast that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Friday, July 11th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Friday, July 11th. Marvell Technology's dividend payout ratio (DPR) is presently -42.11%.

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.

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