Kestra Private Wealth Services LLC boosted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 41.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,575 shares of the semiconductor company's stock after purchasing an additional 7,493 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Marvell Technology were worth $1,575,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Marvell Technology during the 4th quarter worth about $234,000. Dynamic Advisor Solutions LLC grew 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 acquiring an additional 206 shares during the last quarter. Yousif Capital Management LLC grew its holdings 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 worth $927,000 after acquiring an additional 1,164 shares during the last quarter. Tree Line Advisors Hong Kong Ltd. bought a new stake in Marvell Technology during the 4th quarter worth about $46,389,000. Finally, Edgestream Partners L.P. grew its holdings in Marvell Technology by 1,480.2% during the 1st quarter. Edgestream Partners L.P. now owns 60,853 shares of the semiconductor company's stock worth $3,747,000 after acquiring an additional 57,002 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.
Marvell Technology Stock Down 1.5%
Shares of NASDAQ MRVL opened at $71.99 on Wednesday. The firm has a market capitalization of $62.19 billion, a price-to-earnings ratio of -126.30, a PEG ratio of 0.79 and a beta of 1.81. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average of $69.41 and a 200-day moving average of $78.31.
Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 positive return on equity of 8.42% and a negative net margin of 7.56%. The firm's quarterly revenue was up 63.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.24 earnings per share. Sell-side analysts expect that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.
Marvell Technology Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, July 11th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Friday, July 11th. Marvell Technology's payout ratio is -42.11%.
Wall Street Analyst Weigh In
MRVL has been the subject of several research analyst reports. Benchmark reiterated a "buy" rating and issued a $95.00 price target on shares of Marvell Technology in a report on Wednesday, June 18th. Wells Fargo & Company cut their price target on shares of Marvell Technology from $120.00 to $95.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Citigroup decreased their price objective on shares of Marvell Technology from $122.00 to $96.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Stifel Nicolaus decreased their price target on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, Cantor Fitzgerald boosted their target price on shares of Marvell Technology from $60.00 to $75.00 and gave the company a "neutral" rating in a research report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $94.47.
Get Our Latest Research Report on MRVL
Insider Transactions at Marvell Technology
In other Marvell Technology news, CAO Panteha Dixon sold 1,283 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $68.50, for a total value of $87,885.50. Following the transaction, the chief accounting officer owned 29,572 shares of the company's stock, valued at $2,025,682. This represents a 4.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mark Casper sold 3,000 shares of the company's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $72.35, for a total value of $217,050.00. Following the completion of the transaction, the executive vice president directly owned 17,163 shares in the company, valued at $1,241,743.05. This trade represents a 14.88% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,934 shares of company stock worth $1,187,826. 0.33% of the stock is owned by insiders.
Marvell Technology Company Profile
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Free Report)
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.
See Also
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