J.W. Cole Advisors Inc. Acquires Shares of 19,757 Marvell Technology, Inc. (NASDAQ:MRVL)

J.W. Cole Advisors Inc. acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 19,757 shares of the semiconductor company's stock, valued at approximately $1,216,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. IFP Advisors Inc boosted its position in shares of Marvell Technology by 16.7% during the first quarter. IFP Advisors Inc now owns 7,370 shares of the semiconductor company's stock worth $454,000 after purchasing an additional 1,055 shares in the last quarter. Morse Asset Management Inc boosted its position in shares of Marvell Technology by 72.1% during the first quarter. Morse Asset Management Inc now owns 7,954 shares of the semiconductor company's stock worth $490,000 after purchasing an additional 3,331 shares in the last quarter. Kestra Private Wealth Services LLC boosted its position in shares of Marvell Technology by 41.4% during the first quarter. Kestra Private Wealth Services LLC now owns 25,575 shares of the semiconductor company's stock worth $1,575,000 after purchasing an additional 7,493 shares in the last quarter. Denali Advisors LLC boosted its position in shares of Marvell Technology by 2.3% during the first quarter. Denali Advisors LLC now owns 8,713 shares of the semiconductor company's stock worth $536,000 after purchasing an additional 200 shares in the last quarter. Finally, Diversify Advisory Services LLC boosted its position in shares of Marvell Technology by 350.0% during the first quarter. Diversify Advisory Services LLC now owns 16,843 shares of the semiconductor company's stock worth $988,000 after purchasing an additional 13,100 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

Marvell Technology Stock Performance

Shares of MRVL stock traded up $0.17 during midday trading on Friday, hitting $74.21. 9,813,678 shares of the company were exchanged, compared to its average volume of 16,248,888. The firm has a market capitalization of $64.10 billion, a P/E ratio of -130.19, a PEG ratio of 0.80 and a beta of 1.81. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 1.30. The firm's 50 day moving average price is $69.95 and its two-hundred day moving average price is $77.67. Marvell Technology, Inc. has a 52 week low of $47.08 and a 52 week high of $127.48.

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 business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. Marvell Technology had a negative net margin of 7.56% and a positive return on equity of 8.42%. Marvell Technology's revenue was up 63.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.24 EPS. As a group, equities research analysts anticipate that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Friday, July 11th. Marvell Technology's payout ratio is -42.11%.

Wall Street Analysts Forecast Growth

MRVL has been the topic of a number of research analyst reports. Piper Sandler restated an "overweight" rating and set a $85.00 price objective (down from $95.00) on shares of Marvell Technology in a report 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 objective on the stock. Susquehanna dropped their price objective on shares of Marvell Technology from $110.00 to $90.00 and set a "positive" rating on the stock in a report on Tuesday, May 27th. Needham & Company LLC lowered shares of Marvell Technology from a "buy" rating to a "cautious" rating in a report on Wednesday, July 16th. Finally, Loop Capital dropped their price objective on shares of Marvell Technology from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $94.47.

Insider Activity at Marvell Technology

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $65.10, for a total value of $390,600.00. Following the completion of the sale, the chief operating officer owned 92,065 shares of the company's stock, valued at $5,993,431.50. The trade was a 6.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Panteha Dixon sold 1,283 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $68.50, for a total transaction of $87,885.50. Following the completion of the sale, the chief accounting officer directly owned 29,572 shares of the company's stock, valued at $2,025,682. This represents a 4.16% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,934 shares of company stock worth $1,187,826. 0.19% of the stock is currently owned by corporate insiders.

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.