5,000 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Purchased by Pacific Point Advisors LLC

Pacific Point Advisors LLC purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,000 shares of the semiconductor company's stock, valued at approximately $308,000.

A number of other institutional investors also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Marvell Technology in the 4th quarter valued at $234,000. Dynamic Advisor Solutions LLC increased its holdings in Marvell Technology by 5.0% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 4,313 shares of the semiconductor company's stock valued at $266,000 after buying an additional 206 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Marvell Technology in the 4th quarter valued at $45,211,000. Yousif Capital Management LLC increased its holdings in Marvell Technology by 8.4% in the 1st quarter. Yousif Capital Management LLC now owns 15,057 shares of the semiconductor company's stock valued at $927,000 after buying an additional 1,164 shares during the period. Finally, Greykasell Wealth Strategies Inc. bought a new stake in Marvell Technology in the 4th quarter valued at $818,000. Institutional investors own 83.51% of the company's stock.

Marvell Technology Stock Up 1.9%

Shares of NASDAQ MRVL traded up $1.37 during midday trading on Tuesday, reaching $72.92. The company's stock had a trading volume of 5,513,113 shares, compared to its average volume of 15,676,543. 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 fifty-two week low of $47.09 and a fifty-two week high of $127.48. The stock has a market capitalization of $62.99 billion, a price-to-earnings ratio of -128.08, a PEG ratio of 0.81 and a beta of 1.81. The stock has a 50 day simple moving average of $66.80 and a 200-day simple moving average of $81.24.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the company earned $0.24 earnings per share. The firm's revenue was up 63.3% compared to the same quarter last year. 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 announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.33%. Marvell Technology's dividend payout ratio is presently -42.11%.

Insider Activity

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of Marvell Technology 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 completion of the transaction, the chief operating officer directly owned 92,065 shares of the company's stock, valued at $5,993,431.50. The trade was a 6.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Casper sold 12,460 shares of Marvell Technology stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $685,300.00. The disclosure for this sale can be found here. Insiders sold a total of 27,394 shares of company stock valued at $1,656,076 over the last three months. Corporate insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MRVL shares. Loop Capital lowered their price target on shares of Marvell Technology from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Bank of America upped their target price on shares of Marvell Technology from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. China Renaissance started coverage on shares of Marvell Technology in a report on Thursday, June 5th. They issued a "buy" rating and a $110.00 target price on the stock. Rosenblatt Securities reaffirmed a "buy" rating and issued a $124.00 target price on shares of Marvell Technology in a report on Wednesday, June 18th. Finally, Wells Fargo & Company lowered their target price on shares of Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a report on Friday, May 30th. Six equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $96.33.

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.