OMNI 360 Wealth Inc. Purchases Shares of 3,667 Marvell Technology, Inc. (NASDAQ:MRVL)

OMNI 360 Wealth Inc. bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 3,667 shares of the semiconductor company's stock, valued at approximately $226,000.

A number of other large investors have also recently made changes to their positions in the business. Intrepid Financial Planning Group LLC increased its holdings in shares of Marvell Technology by 0.3% in the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company's stock worth $2,860,000 after buying an additional 90 shares during the last quarter. PDS Planning Inc grew its holdings in Marvell Technology by 3.3% during the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock valued at $319,000 after purchasing an additional 92 shares during the last quarter. Tradewinds LLC. grew its holdings in Marvell Technology by 0.7% during the 4th quarter. Tradewinds LLC. now owns 14,050 shares of the semiconductor company's stock valued at $1,552,000 after purchasing an additional 101 shares during the last quarter. Coldstream Capital Management Inc. grew its holdings in Marvell Technology by 1.0% during the 4th quarter. Coldstream Capital Management Inc. now owns 11,344 shares of the semiconductor company's stock valued at $1,253,000 after purchasing an additional 116 shares during the last quarter. Finally, Nicolet Advisory Services LLC grew its holdings in Marvell Technology by 3.1% during the 4th quarter. Nicolet Advisory Services LLC now owns 3,916 shares of the semiconductor company's stock valued at $448,000 after purchasing an additional 118 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Stock Performance

Shares of NASDAQ:MRVL traded up $0.66 during midday trading on Tuesday, reaching $72.21. The company's stock had a trading volume of 2,054,548 shares, compared to its average volume of 15,662,349. The firm has a market capitalization of $62.37 billion, a PE ratio of -126.44, a P/E/G ratio of 0.81 and a beta of 1.81. Marvell Technology, Inc. has a twelve month low of $47.09 and a twelve month high of $127.48. The stock has a fifty day moving average of $66.80 and a 200 day moving average of $81.24. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 0.22.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its quarterly earnings results 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. 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 for 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 firm's quarterly revenue was up 63.3% compared to the same quarter last year. On average, equities analysts expect that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The company 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 dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Friday, July 11th. Marvell Technology's dividend payout ratio (DPR) is presently -42.11%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MRVL. Citigroup cut their price target 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. Melius downgraded shares of Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 price target on the stock. in a report on Thursday, May 22nd. Susquehanna cut their price target on shares of Marvell Technology from $110.00 to $90.00 and set a "positive" rating on the stock in a report on Tuesday, May 27th. B. Riley reiterated a "buy" rating and set a $115.00 price target (up from $110.00) on shares of Marvell Technology in a report on Wednesday, June 18th. Finally, Cantor Fitzgerald boosted their price objective 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. Six investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $96.33.

Insider Activity

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $65.10, for a total transaction of $390,600.00. Following the transaction, the chief operating officer directly owned 92,065 shares of the company's stock, valued at $5,993,431.50. This trade represents a 6.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark Casper sold 626 shares of the stock in a transaction 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 directly owned 626 shares in the company, valued at approximately $38,248.60. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,394 shares of company stock valued at $1,656,076. 0.33% of the stock is currently owned by corporate insiders.

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.

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