Horst & Graben Wealth Management LLC Invests $253,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Horst & Graben Wealth Management LLC acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,107 shares of the semiconductor company's stock, valued at approximately $253,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC purchased a new position in shares of Marvell Technology during the fourth quarter valued at approximately $27,000. Rossby Financial LCC purchased a new position in shares of Marvell Technology during the first quarter valued at approximately $27,000. Security National Bank purchased a new position in shares of Marvell Technology during the first quarter valued at approximately $31,000. Lee Danner & Bass Inc. purchased a new position in shares of Marvell Technology during the fourth quarter valued at approximately $35,000. Finally, Capital Analysts LLC lifted its holdings in Marvell Technology by 236.3% during the fourth quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock worth $38,000 after acquiring an additional 241 shares during the period. Institutional investors and hedge funds own 83.51% of the company's stock.

Insiders Place Their Bets

In other news, CFO Willem A. Meintjes sold 1,500 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $68.52, for a total value of $102,780.00. Following the completion of the transaction, the chief financial officer directly owned 121,348 shares in the company, valued at approximately $8,314,764.96. This represents a 1.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Casper sold 12,460 shares of the company's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $685,300.00. The disclosure for this sale can be found here. Insiders have sold 27,394 shares of company stock valued at $1,656,076 in the last ninety days. Corporate insiders own 0.33% of the company's stock.

Marvell Technology Stock Performance

Shares of NASDAQ:MRVL traded down $3.63 during midday trading on Monday, reaching $71.55. 21,638,604 shares of the company traded hands, compared to its average volume of 15,714,319. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48. The firm's fifty day moving average price is $66.54 and its two-hundred day moving average price is $81.53. 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 firm has a market capitalization of $61.81 billion, a price-to-earnings ratio of -125.53, a price-to-earnings-growth ratio of 0.81 and a beta of 1.81.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. The business had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same period in the previous year, the business earned $0.24 earnings per share. The firm's revenue was up 63.3% on a year-over-year basis. On average, equities analysts expect that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend is Friday, July 11th. Marvell Technology's payout ratio is -42.11%.

Analyst Ratings Changes

MRVL has been the topic of a number of recent analyst reports. B. Riley reiterated a "buy" rating and set a $115.00 price target (up from $110.00) on shares of Marvell Technology in a report on Wednesday, June 18th. Melius Research lifted their price target on Marvell Technology from $67.00 to $76.00 and gave the stock a "hold" rating in a report on Wednesday, June 18th. Wall Street Zen upgraded Marvell Technology from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Raymond James Financial reiterated an "outperform" rating and set a $90.00 price target (down from $110.00) on shares of Marvell Technology in a report on Friday, May 30th. Finally, China Renaissance initiated coverage on Marvell Technology in a report on Thursday, June 5th. They set a "buy" rating and a $110.00 price target on the stock. Six 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. Based on data from MarketBeat, Marvell Technology has an average rating of "Moderate Buy" and a consensus target price of $96.33.

Marvell Technology Company 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.