Krilogy Financial LLC Purchases 4,187 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Krilogy Financial LLC lifted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 18.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,301 shares of the semiconductor company's stock after purchasing an additional 4,187 shares during the quarter. Krilogy Financial LLC's holdings in Marvell Technology were worth $1,619,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Centricity Wealth Management LLC bought a new stake in shares of Marvell Technology during the 4th quarter worth $26,000. Rialto Wealth Management LLC bought a new stake in Marvell Technology during the fourth quarter valued at about $27,000. Lee Danner & Bass Inc. acquired a new stake in shares of Marvell Technology in the fourth quarter valued at about $35,000. Capital Analysts LLC increased its stake in shares of Marvell Technology by 236.3% in the fourth quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 241 shares during the period. Finally, Sierra Ocean LLC acquired a new position in shares of Marvell Technology during the 4th quarter worth about $44,000. Institutional investors own 83.51% of the company's stock.

Marvell Technology Price Performance

Shares of NASDAQ MRVL traded up $5.24 during mid-day trading on Wednesday, hitting $75.23. 47,440,083 shares of the stock were exchanged, compared to its average volume of 14,982,627. Marvell Technology, Inc. has a twelve month low of $47.09 and a twelve month high of $127.48. The stock's fifty day simple moving average is $60.89 and its two-hundred day simple moving average is $84.87. 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 company has a market cap of $64.99 billion, a P/E ratio of -131.12, a PEG ratio of 0.77 and a beta of 1.76.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. The firm had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.88 billion. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. The business's revenue was up 63.3% on a year-over-year basis. During the same period last year, the firm posted $0.24 EPS. As a group, analysts forecast that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be given a $0.06 dividend. 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 dividend payout ratio (DPR) is presently -42.11%.

Analysts Set New Price Targets

A number of research firms have issued reports on MRVL. B. Riley raised their target price on Marvell Technology from $110.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday. Loop Capital reduced their price objective on Marvell Technology from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Needham & Company LLC reaffirmed a "buy" rating and set a $85.00 target price on shares of Marvell Technology in a research report on Wednesday. Benchmark reiterated a "buy" rating and set a $95.00 target price on shares of Marvell Technology in a research note on Wednesday. Finally, Raymond James Financial reissued an "outperform" rating and issued a $90.00 price target (down from $110.00) on shares of Marvell Technology in a report on Friday, May 30th. Seven analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $96.33.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $60.00, for a total transaction of $90,000.00. Following the completion of the sale, the chief financial officer now owns 124,348 shares in the company, valued at approximately $7,460,880. The trade was a 1.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark Casper sold 12,460 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $685,300.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,394 shares of company stock valued at $1,656,076. 0.33% of the stock is currently owned by corporate insiders.

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.