Paragon Capital Management Inc. Purchases New Shares in Marvell Technology, Inc. (NASDAQ:MRVL)

Paragon Capital Management Inc. purchased a new position 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 SEC. The firm purchased 6,033 shares of the semiconductor company's stock, valued at approximately $371,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of MRVL. Transcend Capital Advisors LLC raised its holdings in shares of Marvell Technology by 9.9% during the first quarter. Transcend Capital Advisors LLC now owns 3,787 shares of the semiconductor company's stock valued at $233,000 after acquiring an additional 341 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in Marvell Technology by 14.5% during the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,795 shares of the semiconductor company's stock worth $172,000 after purchasing an additional 355 shares in the last quarter. Alta Wealth Advisors LLC grew its position in Marvell Technology by 5.0% during the 1st quarter. Alta Wealth Advisors LLC now owns 5,754 shares of the semiconductor company's stock worth $354,000 after purchasing an additional 276 shares in the last quarter. Board of the Pension Protection Fund acquired a new stake in Marvell Technology during the 1st quarter valued at $234,000. Finally, KG&L Capital Management LLC lifted its holdings in shares of Marvell Technology by 100.6% in the first quarter. KG&L Capital Management LLC now owns 8,820 shares of the semiconductor company's stock valued at $543,000 after purchasing an additional 4,424 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. UBS Group reiterated a "buy" rating on shares of Marvell Technology in a report on Monday, June 2nd. Melius Research raised their price objective on Marvell Technology from $67.00 to $76.00 and gave the stock a "hold" rating in a research report on Wednesday, June 18th. KeyCorp dropped their target price on Marvell Technology from $115.00 to $90.00 and set an "overweight" rating on the stock in a report on Friday, May 30th. Melius lowered shares of Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 price target for the company. in a research report on Thursday, May 22nd. Finally, Summit Insights cut shares of Marvell Technology from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Six equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.33.

Insider Transactions at Marvell Technology

In other news, EVP Mark Casper sold 12,460 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $685,300.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $65.10, for a total transaction of $390,600.00. Following the sale, the chief operating officer now owns 92,065 shares in the company, valued at $5,993,431.50. This represents a 6.12% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,394 shares of company stock worth $1,656,076. 0.19% of the stock is currently owned by company insiders.

Marvell Technology Stock Up 5.3%

MRVL stock opened at $79.97 on Friday. The stock has a market capitalization of $69.08 billion, a price-to-earnings ratio of -140.30, a price-to-earnings-growth ratio of 0.82 and a beta of 1.76. The company has a 50-day moving average of $63.87 and a two-hundred day moving average of $83.46. Marvell Technology, Inc. has a 52-week low of $47.09 and a 52-week 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.

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 for the quarter, topping the consensus estimate of $0.61 by $0.01. The business 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%. The firm's revenue was up 63.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 EPS. As a group, equities research analysts anticipate that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, July 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.30%. Marvell Technology's payout ratio is -42.11%.

Marvell Technology Company 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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