Integrated Advisors Network LLC Decreases Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Integrated Advisors Network LLC lessened its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 53.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,815 shares of the semiconductor company's stock after selling 4,334 shares during the quarter. Integrated Advisors Network LLC's holdings in Marvell Technology were worth $235,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Intrepid Financial Planning Group LLC increased its position in Marvell Technology by 0.3% during the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company's stock valued at $2,860,000 after purchasing an additional 90 shares during the period. PDS Planning Inc increased its holdings in Marvell Technology by 3.3% during the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock valued at $319,000 after buying an additional 92 shares during the period. Private Trust Co. NA increased its holdings in Marvell Technology by 2.7% during the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock valued at $414,000 after buying an additional 97 shares during the period. Tradewinds LLC. raised its stake in Marvell Technology by 0.7% in the fourth quarter. Tradewinds LLC. now owns 14,050 shares of the semiconductor company's stock worth $1,552,000 after buying an additional 101 shares in the last quarter. Finally, SRS Capital Advisors Inc. lifted its holdings in Marvell Technology by 19.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 693 shares of the semiconductor company's stock worth $77,000 after buying an additional 112 shares during the period. Hedge funds and other institutional investors own 83.51% of the company's stock.

Marvell Technology Trading Up 4.8%

Shares of MRVL traded up $3.23 during midday trading on Monday, reaching $70.42. The company had a trading volume of 19,650,218 shares, compared to its average volume of 14,784,769. Marvell Technology, Inc. has a 1-year low of $47.09 and a 1-year high of $127.48. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The firm has a 50 day simple moving average of $60.30 and a 200-day simple moving average of $85.13. The stock has a market cap of $60.83 billion, a PE ratio of -41.42, a price-to-earnings-growth ratio of 1.61 and a beta of 1.76.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.01. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 63.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 earnings per share. Research analysts forecast that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Announces Dividend

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

Insider Buying and Selling

In other Marvell Technology news, EVP Mark Casper sold 626 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $61.10, for a total transaction of $38,248.60. Following the completion of the transaction, the executive vice president now owns 626 shares of the company's stock, valued at $38,248.60. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $60.00, for a total transaction of $90,000.00. Following the transaction, the chief financial officer now directly owns 124,348 shares of the company's stock, valued at $7,460,880. The trade was a 1.19% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,611 shares of company stock valued at $1,465,411. 0.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MRVL has been the topic of a number of analyst reports. Stifel Nicolaus cut their price target on Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Redburn Atlantic initiated coverage on Marvell Technology in a research note on Wednesday, May 28th. They issued a "neutral" rating and a $67.00 target price on the stock. Loop Capital decreased their price target 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. Piper Sandler reaffirmed an "overweight" rating and issued a $85.00 price objective (down previously from $95.00) on shares of Marvell Technology in a research report on Friday, May 30th. Finally, KeyCorp reduced their price objective on shares of Marvell Technology from $115.00 to $90.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Seven analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Marvell Technology currently has a consensus rating of "Moderate Buy" and an average target price of $94.73.

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.