Marvell Technology, Inc. (NASDAQ:MRVL) Position Increased by Parisi Gray Wealth Management

Parisi Gray Wealth Management raised its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 43.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,725 shares of the semiconductor company's stock after purchasing an additional 5,383 shares during the period. Parisi Gray Wealth Management's holdings in Marvell Technology were worth $1,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MRVL. Centricity Wealth Management LLC acquired a new stake in shares of Marvell Technology during the fourth quarter worth about $26,000. Rialto Wealth Management LLC acquired a new position in Marvell Technology in the fourth quarter valued at approximately $27,000. Lee Danner & Bass Inc. acquired a new position in shares of Marvell Technology during the 4th quarter worth approximately $35,000. Capital Analysts LLC raised its stake in shares of Marvell Technology by 236.3% during the 4th quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock worth $38,000 after buying an additional 241 shares during the period. Finally, Compass Financial Services Inc acquired a new position in shares of Marvell Technology during the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 83.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Cantor Fitzgerald reissued a "neutral" rating and issued a $60.00 price objective on shares of Marvell Technology in a research note on Friday, May 30th. Bank of America lowered their price target on Marvell Technology from $120.00 to $72.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. China Renaissance initiated coverage on Marvell Technology in a report on Thursday, June 5th. They set a "buy" rating and a $110.00 target price for the company. Melius lowered Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 price target on the stock. in a research report on Thursday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Marvell Technology from $100.00 to $85.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Seven investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $94.73.

Insider Activity

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $103,245.00. Following the transaction, the chief financial officer now owns 113,592 shares of the company's stock, valued at $7,818,537.36. This trade represents a 1.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark Casper sold 626 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $61.10, for a total value of $38,248.60. Following the transaction, the executive vice president now directly owns 626 shares in the company, valued at approximately $38,248.60. This represents a 50.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,541 shares of company stock worth $2,079,948. 0.19% of the stock is currently owned by corporate insiders.

Marvell Technology Price Performance

MRVL traded down $0.60 during trading on Wednesday, reaching $68.24. 13,859,792 shares of the stock were exchanged, compared to its average volume of 14,737,427. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a 1 year low of $47.09 and a 1 year high of $127.48. The business's 50 day moving average price is $59.59 and its two-hundred day moving average price is $85.54. The company has a market capitalization of $58.95 billion, a price-to-earnings ratio of -40.14, a P/E/G ratio of 1.61 and a beta of 1.76.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its earnings results 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. Marvell Technology had a positive return on equity of 4.59% and a negative net margin of 27.49%. 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 business posted $0.24 earnings per share. The firm's revenue for the quarter was up 63.3% compared to the same quarter last year. As a group, equities research analysts anticipate 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 was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.35%. Marvell Technology's dividend payout ratio is presently -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.