Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by Private Wealth Partners LLC

Private Wealth Partners LLC boosted its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 31.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,330 shares of the semiconductor company's stock after purchasing an additional 11,560 shares during the period. Private Wealth Partners LLC's holdings in Marvell Technology were worth $2,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of MRVL. Centricity Wealth Management LLC bought a new position in Marvell Technology in the 4th quarter worth about $26,000. Rialto Wealth Management LLC purchased a new position in shares of Marvell Technology in the 4th quarter worth approximately $27,000. Lee Danner & Bass Inc. purchased a new position in Marvell Technology in the fourth quarter worth $35,000. Capital Analysts LLC grew its holdings in Marvell Technology by 236.3% in the fourth quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 241 shares during the last quarter. Finally, Chelsea Counsel Co. acquired a new position in shares of Marvell Technology during the fourth quarter worth $44,000. Hedge funds and other institutional investors own 83.51% of the company's stock.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $65.10, for a total value of $390,600.00. Following the sale, the chief operating officer now directly owns 92,065 shares of the company's stock, valued at approximately $5,993,431.50. This represents a 6.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 worth $1,656,076 over the last three months. Insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

MRVL has been the topic of a number of research analyst reports. Stifel Nicolaus dropped their price target on Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Evercore ISI decreased their price objective on Marvell Technology from $135.00 to $133.00 and set an "outperform" rating for the company in a report on Friday, May 30th. Loop Capital reduced their price target on Marvell Technology from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Rosenblatt Securities reaffirmed a "buy" rating and set a $124.00 price objective on shares of Marvell Technology in a research note on Wednesday. Finally, Melius Research lifted their target price on shares of Marvell Technology from $67.00 to $76.00 and gave the company a "hold" rating in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.33.

Marvell Technology Price Performance

Shares of Marvell Technology stock traded down $1.44 on Friday, hitting $73.51. 45,935,274 shares of the company were exchanged, compared to its average volume of 15,156,619. Marvell Technology, Inc. has a 1-year low of $47.09 and a 1-year high of $127.48. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $63.50 billion, a price-to-earnings ratio of -128.96, a price-to-earnings-growth ratio of 0.81 and a beta of 1.76. The company has a 50-day moving average price of $61.61 and a 200 day moving average price of $84.65.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its 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 positive return on equity of 8.42% and a negative net margin of 7.56%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the company earned $0.24 EPS. The company's revenue for the quarter was up 63.3% on a year-over-year basis. As a group, sell-side analysts predict that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a $0.24 annualized dividend and a yield of 0.33%. Marvell Technology's payout ratio is -42.11%.

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.