Kingsview Wealth Management LLC Acquires 4,517 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Kingsview Wealth Management LLC lifted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 59.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 12,101 shares of the semiconductor company's stock after acquiring an additional 4,517 shares during the period. Kingsview Wealth Management LLC's holdings in Marvell Technology were worth $745,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Graypoint LLC lifted its holdings in shares of Marvell Technology by 8.7% during the 1st quarter. Graypoint LLC now owns 4,366 shares of the semiconductor company's stock worth $269,000 after acquiring an additional 348 shares during the period. Hudock Inc. lifted its holdings in shares of Marvell Technology by 178.2% during the 1st quarter. Hudock Inc. now owns 6,672 shares of the semiconductor company's stock worth $411,000 after acquiring an additional 4,274 shares during the period. Mechanics Financial Corp bought a new position in shares of Marvell Technology during the 1st quarter worth about $238,000. Kornitzer Capital Management Inc. KS lifted its holdings in shares of Marvell Technology by 111.6% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 21,541 shares of the semiconductor company's stock worth $1,326,000 after acquiring an additional 11,360 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in shares of Marvell Technology by 348.1% during the 1st quarter. Larson Financial Group LLC now owns 1,192 shares of the semiconductor company's stock worth $73,000 after acquiring an additional 926 shares during the period. 83.51% of the stock is owned by institutional investors.

Marvell Technology Trading Up 0.2%

Shares of NASDAQ:MRVL traded up $0.17 during trading on Friday, hitting $74.21. 9,813,678 shares of the company's stock were exchanged, compared to its average volume of 16,248,888. Marvell Technology, Inc. has a 1-year low of $47.08 and a 1-year high of $127.48. The firm has a 50-day moving average price of $69.95 and a two-hundred day moving average price of $77.67. 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 firm has a market cap of $64.10 billion, a P/E ratio of -130.19, a PEG ratio of 0.80 and a beta of 1.81.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. Marvell Technology had a negative net margin of 7.56% and a positive return on equity of 8.42%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the firm earned $0.24 EPS. Marvell Technology's quarterly revenue was up 63.3% compared to the same quarter last year. Equities 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 disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a 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 Analyst Weigh In

Several equities analysts recently issued reports on the stock. Loop Capital cut their price target on shares of Marvell Technology from $110.00 to $90.00 and set a "buy" rating for the company in a report on Friday, May 30th. China Renaissance assumed coverage on shares of Marvell Technology in a report on Thursday, June 5th. They set a "buy" rating and a $110.00 price target for the company. TD Cowen lifted their price target on shares of Marvell Technology from $60.00 to $70.00 and gave the company a "buy" rating in a report on Friday, May 30th. Wall Street Zen downgraded shares of Marvell Technology from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Finally, Melius Research lifted their price target on shares of Marvell Technology from $67.00 to $76.00 and gave the company a "hold" rating in a report on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $94.47.

Insider Activity

In other Marvell Technology news, CAO Panteha Dixon sold 1,286 shares of Marvell Technology stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $65.00, for a total value of $83,590.00. Following the transaction, the chief accounting officer owned 32,094 shares of the company's stock, valued at approximately $2,086,110. The trade was a 3.85% 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 business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $68.52, for a total transaction of $102,780.00. Following the completion of the sale, the chief financial officer directly owned 121,348 shares in the company, valued at approximately $8,314,764.96. This represents a 1.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,934 shares of company stock worth $1,187,826 over the last quarter. 0.19% of the stock is owned by insiders.

Marvell Technology 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.