OneDigital Investment Advisors LLC Grows Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

OneDigital Investment Advisors LLC raised its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 38.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,041 shares of the semiconductor company's stock after buying an additional 21,470 shares during the period. OneDigital Investment Advisors LLC's holdings in Marvell Technology were worth $4,743,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank Pictet & Cie Europe AG grew its stake in Marvell Technology by 0.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 66,710 shares of the semiconductor company's stock valued at $7,368,000 after purchasing an additional 460 shares in the last quarter. SRS Capital Advisors Inc. grew its position in shares of Marvell Technology by 19.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 693 shares of the semiconductor company's stock worth $77,000 after buying an additional 112 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Marvell Technology by 55.6% in the fourth quarter. Jones Financial Companies Lllp now owns 15,109 shares of the semiconductor company's stock valued at $1,669,000 after acquiring an additional 5,398 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Marvell Technology by 0.5% in the fourth quarter. Victory Capital Management Inc. now owns 648,968 shares of the semiconductor company's stock valued at $71,679,000 after acquiring an additional 3,458 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in Marvell Technology by 9.9% during the 4th quarter. Assetmark Inc. now owns 43,091 shares of the semiconductor company's stock valued at $4,759,000 after acquiring an additional 3,894 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Stock Performance

Shares of MRVL opened at $75.15 on Friday. The company has a market capitalization of $64.92 billion, a PE ratio of -131.84, a PEG ratio of 0.81 and a beta of 1.81. 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's 50 day moving average price is $66.54 and its 200 day moving average price is $81.88. Marvell Technology, Inc. has a 52 week low of $47.09 and a 52 week high of $127.48.

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

Marvell Technology Dividend Announcement

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

Insider Buying and Selling at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the company's stock in a transaction dated 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 owned 121,348 shares in the company, valued at approximately $8,314,764.96. This represents a 1.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Panteha Dixon sold 1,283 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $68.50, for a total transaction of $87,885.50. Following the completion of the sale, the chief accounting officer owned 29,572 shares in the company, valued at $2,025,682. This represents a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,394 shares of company stock valued at $1,656,076. 0.19% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Susquehanna dropped their target price on shares of Marvell Technology from $110.00 to $90.00 and set a "positive" rating for the company in a research report on Tuesday, May 27th. Stifel Nicolaus lowered their price objective on Marvell Technology from $115.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Rosenblatt Securities reaffirmed a "buy" rating and set a $124.00 target price on shares of Marvell Technology in a report on Wednesday, June 18th. Wells Fargo & Company lowered their price target on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Finally, China Renaissance started coverage on Marvell Technology in a research report on Thursday, June 5th. They set a "buy" rating and a $110.00 price target on the stock. Six investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Marvell Technology presently has a consensus rating of "Moderate Buy" and an average target price of $96.33.

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.

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