Independent Advisor Alliance Has $1.24 Million Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Key Points

• Independent Advisor Alliance reduced its holdings in Marvell Technology by 32.2% in Q1, now owning shares valued at $1.24 million.
• Several institutional investors have increased their positions in Marvell Technology, with 83.51% of the company's stock owned by institutional investors.
• Marvell Technology recently announced a quarterly dividend of $0.06 per share, representing an annualized yield of 0.3%.

Independent Advisor Alliance decreased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 32.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,205 shares of the semiconductor company's stock after selling 9,575 shares during the quarter. Independent Advisor Alliance's holdings in Marvell Technology were worth $1,244,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of MRVL. Bank Pictet & Cie Europe AG raised its position in shares of Marvell Technology by 0.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 66,710 shares of the semiconductor company's stock worth $7,368,000 after acquiring an additional 460 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Marvell Technology by 12.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 51,022 shares of the semiconductor company's stock worth $5,635,000 after purchasing an additional 5,765 shares during the period. Townsquare Capital LLC raised its holdings in shares of Marvell Technology by 9.1% during the fourth quarter. Townsquare Capital LLC now owns 12,731 shares of the semiconductor company's stock worth $1,406,000 after purchasing an additional 1,062 shares during the last quarter. Sagespring Wealth Partners LLC purchased a new stake in Marvell Technology in the fourth quarter valued at $413,000. Finally, SageView Advisory Group LLC acquired a new stake in Marvell Technology during the 4th quarter worth about $214,000. Institutional investors own 83.51% of the company's stock.

Insider Activity at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $68.52, for a total value of $102,780.00. Following the sale, the chief financial officer owned 121,348 shares of the company's stock, valued at $8,314,764.96. The trade was a 1.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mark Casper sold 3,000 shares of Marvell Technology stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $72.35, for a total transaction of $217,050.00. Following the sale, the executive vice president owned 17,163 shares in the company, valued at approximately $1,241,743.05. This trade represents a 14.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,409 shares of company stock worth $445,964 over the last three months. Company insiders own 0.19% of the company's stock.

Marvell Technology Stock Performance

MRVL stock traded down $0.28 during midday trading on Thursday, hitting $79.04. 10,118,641 shares of the company traded hands, compared to its average volume of 16,114,096. The business has a 50 day simple moving average of $74.14 and a 200-day simple moving average of $73.68. 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, Inc. has a twelve month low of $47.08 and a twelve month high of $127.48. The stock has a market capitalization of $68.28 billion, a price-to-earnings ratio of -138.67, a price-to-earnings-growth ratio of 0.86 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 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 company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the business posted $0.24 EPS. The company's revenue for the quarter was up 63.3% on a year-over-year basis. As a group, equities research analysts predict that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MRVL. Loop Capital reduced their price objective on shares of Marvell Technology from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Wall Street Zen raised Marvell Technology from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. B. Riley reiterated a "buy" rating and issued a $115.00 price target (up previously from $110.00) on shares of Marvell Technology in a research note on Wednesday, June 18th. Barclays lowered their target price on shares of Marvell Technology from $130.00 to $80.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, Benchmark reaffirmed a "buy" rating and issued a $95.00 target price on shares of Marvell Technology in a report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Marvell Technology presently has an average rating of "Moderate Buy" and an average target price of $94.70.

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.