Marvell Technology, Inc. (NASDAQ:MRVL) is Hartline Investment Corp's 8th Largest Position

Hartline Investment Corp boosted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 2.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 375,717 shares of the semiconductor company's stock after purchasing an additional 7,611 shares during the quarter. Marvell Technology comprises about 3.1% of Hartline Investment Corp's portfolio, making the stock its 8th biggest position. Hartline Investment Corp's holdings in Marvell Technology were worth $23,133,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MRVL. Rialto Wealth Management LLC purchased a new position in shares of Marvell Technology in the 4th quarter valued at $27,000. Rossby Financial LCC purchased a new position in shares of Marvell Technology in the 1st quarter valued at $27,000. Security National Bank purchased a new position in shares of Marvell Technology in the 1st quarter valued at $31,000. Lee Danner & Bass Inc. purchased a new position in shares of Marvell Technology in the 4th quarter valued at $35,000. Finally, Capital Analysts LLC increased its holdings in shares of Marvell Technology by 236.3% in the 4th quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 241 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Marvell Technology news, CAO Panteha Dixon sold 1,286 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $65.00, for a total transaction of $83,590.00. Following the completion of the transaction, the chief accounting officer owned 32,094 shares of the company's stock, valued at $2,086,110. This represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Casper sold 12,460 shares of the stock in a transaction that occurred 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. Over the last quarter, insiders sold 27,394 shares of company stock worth $1,656,076. 0.19% of the stock is owned by company insiders.

Analyst Ratings Changes

MRVL has been the topic of several research analyst reports. Melius downgraded Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 target price on the stock. in a research note on Thursday, May 22nd. Wells Fargo & Company dropped their target price on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. Piper Sandler restated an "overweight" rating and set a $85.00 target price (down from $95.00) on shares of Marvell Technology in a research note on Friday, May 30th. Stifel Nicolaus dropped their target price on 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, Deutsche Bank Aktiengesellschaft dropped their target price on Marvell Technology from $100.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. Six equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $96.33.

Marvell Technology Price Performance

NASDAQ MRVL traded up $0.90 during trading hours on Friday, reaching $75.15. The company's stock had a trading volume of 10,217,992 shares, compared to its average volume of 15,647,810. The firm has a market capitalization of $64.92 billion, a price-to-earnings ratio of -131.84, a P/E/G ratio of 0.81 and a beta of 1.81. Marvell Technology, Inc. has a 1-year low of $47.09 and a 1-year high of $127.48. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.30 and a quick ratio of 0.94. The company's 50-day moving average is $66.54 and its two-hundred day moving average is $81.88.

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, topping analysts' consensus estimates of $0.61 by $0.01. The company 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%. Marvell Technology's quarterly revenue was up 63.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 EPS. On average, equities analysts predict that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Announces Dividend

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

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.