Diversify Advisory Services LLC Acquires 13,100 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Diversify Advisory Services LLC boosted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 350.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,843 shares of the semiconductor company's stock after purchasing an additional 13,100 shares during the period. Diversify Advisory Services LLC's holdings in Marvell Technology were worth $988,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MRVL. Hughes Financial Services LLC bought a new position in Marvell Technology in the 1st quarter valued at $26,000. Rossby Financial LCC bought a new position in shares of Marvell Technology in the 1st quarter worth $27,000. Security National Bank bought a new position in shares of Marvell Technology in the 1st quarter worth $31,000. Lee Danner & Bass Inc. bought a new position in Marvell Technology during the fourth quarter worth about $35,000. Finally, Capital Analysts LLC lifted its holdings in Marvell Technology by 236.3% during the fourth quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock worth $38,000 after acquiring an additional 241 shares in the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Mark Casper sold 626 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $61.10, for a total transaction of $38,248.60. Following the transaction, the executive vice president owned 626 shares in the company, valued at $38,248.60. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Panteha Dixon sold 1,283 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $68.50, for a total transaction of $87,885.50. Following the transaction, the chief accounting officer owned 29,572 shares in the company, valued at approximately $2,025,682. This trade represents a 4.16% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,394 shares of company stock worth $1,656,076. Corporate insiders own 0.19% of the company's stock.

Wall Street Analyst Weigh In

MRVL has been the subject of a number of research analyst reports. B. Riley restated a "buy" rating and set a $115.00 price objective (up previously from $110.00) on shares of Marvell Technology in a report on Wednesday, June 18th. TD Cowen boosted their price objective on Marvell Technology from $60.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Melius Research boosted their price objective on Marvell Technology from $67.00 to $76.00 and gave the stock a "hold" rating in a report on Wednesday, June 18th. Needham & Company LLC cut Marvell Technology from a "buy" rating to a "cautious" rating in a report on Wednesday. Finally, Wall Street Zen cut Marvell Technology from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. 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's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $94.47.

Marvell Technology Price Performance

Shares of MRVL traded up $2.64 during mid-day trading on Friday, reaching $74.65. 16,898,439 shares of the stock traded hands, compared to its average volume of 15,922,364. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. Marvell Technology, Inc. has a 1 year low of $47.09 and a 1 year high of $127.48. The company has a market cap of $64.48 billion, a price-to-earnings ratio of -130.96, a price-to-earnings-growth ratio of 0.81 and a beta of 1.81. The firm has a fifty day moving average price of $69.11 and a 200 day moving average price of $78.91.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, beating 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 firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the firm posted $0.24 earnings per share. The company's quarterly revenue was up 63.3% compared to the same quarter last year. As a group, equities research 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 declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis 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%.

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.