Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by GPS Wealth Strategies Group LLC

GPS Wealth Strategies Group LLC grew its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 932.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,644 shares of the semiconductor company's stock after acquiring an additional 17,741 shares during the quarter. GPS Wealth Strategies Group LLC's holdings in Marvell Technology were worth $1,210,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in MRVL. Intrepid Financial Planning Group LLC grew its position in shares of Marvell Technology by 0.3% in the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company's stock worth $2,860,000 after buying an additional 90 shares during the period. PDS Planning Inc boosted its stake in Marvell Technology by 3.3% in the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock worth $319,000 after purchasing an additional 92 shares in the last quarter. Lodestone Wealth Management LLC boosted its stake in Marvell Technology by 2.0% in the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company's stock worth $514,000 after purchasing an additional 93 shares in the last quarter. Private Trust Co. NA boosted its stake in Marvell Technology by 2.7% in the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock worth $414,000 after purchasing an additional 97 shares in the last quarter. Finally, Tradewinds LLC. boosted its stake in Marvell Technology by 0.7% in the 4th quarter. Tradewinds LLC. now owns 14,050 shares of the semiconductor company's stock worth $1,552,000 after purchasing an additional 101 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $103,245.00. Following the completion of the sale, the chief financial officer now directly owns 113,592 shares in the company, valued at approximately $7,818,537.36. The trade was a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Panteha Dixon sold 1,430 shares of Marvell Technology stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the sale, the chief accounting officer now owns 31,100 shares of the company's stock, valued at $2,138,125. The trade was a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,541 shares of company stock valued at $2,079,948 over the last ninety days. 0.19% of the stock is owned by company insiders.

Marvell Technology Trading Up 2.1%

Shares of NASDAQ:MRVL traded up $1.40 during trading on Thursday, reaching $69.64. 11,847,039 shares of the company were exchanged, compared to its average volume of 14,743,688. The firm has a market capitalization of $60.16 billion, a PE ratio of -40.96, a P/E/G ratio of 1.61 and a beta of 1.76. The business's fifty day simple moving average is $59.96 and its 200-day simple moving average is $85.38. Marvell Technology, Inc. has a 12-month low of $47.09 and a 12-month high of $127.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings data 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 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 27.49% and a positive return on equity of 4.59%. Marvell Technology's revenue was up 63.3% compared to the same quarter last year. During the same period last year, the company posted $0.24 earnings per share. On average, research analysts anticipate that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.34%. The ex-dividend date was Friday, April 11th. Marvell Technology's payout ratio is -42.11%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MRVL shares. Stifel Nicolaus dropped their price target on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Bank of America dropped their price target on shares of Marvell Technology from $120.00 to $72.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Wells Fargo & Company dropped their price target on shares of Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. Redburn Atlantic initiated coverage on shares of Marvell Technology in a report on Wednesday, May 28th. They set a "neutral" rating and a $67.00 price target on the stock. Finally, Rosenblatt Securities restated a "buy" rating and set a $124.00 price objective on shares of Marvell Technology in a research report on Friday, May 30th. Seven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $94.73.

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.