Hudock Inc. Purchases 4,274 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Hudock Inc. boosted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 178.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,672 shares of the semiconductor company's stock after acquiring an additional 4,274 shares during the period. Hudock Inc.'s holdings in Marvell Technology were worth $411,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Marvell Technology during the 4th quarter valued at $234,000. Dynamic Advisor Solutions LLC lifted its holdings in Marvell Technology by 5.0% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 4,313 shares of the semiconductor company's stock worth $266,000 after buying an additional 206 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Marvell Technology during the 4th quarter worth $45,211,000. Yousif Capital Management LLC lifted its position in Marvell Technology by 8.4% during the 1st quarter. Yousif Capital Management LLC now owns 15,057 shares of the semiconductor company's stock valued at $927,000 after purchasing an additional 1,164 shares during the period. Finally, Tree Line Advisors Hong Kong Ltd. acquired a new position in Marvell Technology during the 4th quarter valued at about $46,389,000. 83.51% of the stock is currently owned by institutional investors.

Insider Activity

In other 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 owned 121,348 shares of the company's stock, valued at $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 is available through this link. Also, COO Chris Koopmans sold 6,000 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $65.10, for a total transaction of $390,600.00. Following the transaction, the chief operating officer directly owned 92,065 shares in the company, valued at $5,993,431.50. This trade represents a 6.12% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,394 shares of company stock worth $1,656,076. 0.19% of the stock is owned by insiders.

Analyst Ratings Changes

MRVL has been the topic of a number of research reports. Melius downgraded shares of Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 target price on the stock. in a research report on Thursday, May 22nd. Barclays cut their price target on Marvell Technology from $130.00 to $80.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Loop Capital cut their price target on Marvell Technology from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. Wells Fargo & Company cut their price target on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. Finally, Susquehanna cut their price target on Marvell Technology from $110.00 to $90.00 and set a "positive" rating on the stock in a research note on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $94.47.

Marvell Technology Trading Down 2.2%

MRVL traded down $1.56 during midday trading on Wednesday, hitting $70.85. 26,444,360 shares of the company were exchanged, compared to its average volume of 15,890,629. The firm has a market capitalization of $61.20 billion, a P/E ratio of -124.30, a P/E/G ratio of 0.78 and a beta of 1.81. Marvell Technology, Inc. has a 1-year low of $47.09 and a 1-year high of $127.48. The firm's 50 day moving average price is $68.52 and its 200-day moving average price is $79.65. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 0.22.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced 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. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. The business's quarterly revenue was up 63.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 EPS. As a group, equities analysts forecast that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, July 11th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, July 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.34%. Marvell Technology's dividend payout ratio (DPR) is currently -42.11%.

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.