Schear Investment Advisers LLC Acquires 3,993 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Schear Investment Advisers LLC boosted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 14.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,020 shares of the semiconductor company's stock after purchasing an additional 3,993 shares during the quarter. Marvell Technology comprises 1.1% of Schear Investment Advisers LLC's holdings, making the stock its 25th largest holding. Schear Investment Advisers LLC's holdings in Marvell Technology were worth $1,971,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in MRVL. Rossby Financial LCC bought a new stake in Marvell Technology in the first quarter worth approximately $27,000. Security National Bank bought a new stake in shares of Marvell Technology during the first quarter valued at approximately $31,000. Lee Danner & Bass Inc. bought a new stake in shares of Marvell Technology during the fourth quarter valued at approximately $35,000. Capital Analysts LLC increased its holdings in shares of Marvell Technology by 236.3% during the fourth quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 241 shares in the last quarter. Finally, Garde Capital Inc. bought a new stake in shares of Marvell Technology during the first quarter valued at approximately $39,000. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Stock Down 0.9%

Shares of NASDAQ MRVL opened at $72.71 on Friday. Marvell Technology, Inc. has a one year low of $47.09 and a one year 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. The business's fifty day moving average price is $67.80 and its 200-day moving average price is $80.29. The stock has a market capitalization of $62.81 billion, a PE ratio of -127.56, a P/E/G ratio of 0.79 and a beta of 1.81.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, beating 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 firm had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.88 billion. During the same quarter in the prior year, the firm earned $0.24 EPS. The business's revenue for the quarter was up 63.3% compared to the same quarter last year. On average, 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. Investors of record on Friday, July 11th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, July 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.33%. Marvell Technology's payout ratio is -42.11%.

Insider Buying and Selling

In related news, COO Chris Koopmans sold 6,000 shares of the business's 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 directly owned 92,065 shares in the company, valued at approximately $5,993,431.50. The trade was a 6.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $68.52, for a total value of $102,780.00. Following the sale, the chief financial officer owned 121,348 shares in the company, valued at approximately $8,314,764.96. The trade was a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,394 shares of company stock valued at $1,656,076. 0.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. 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. KeyCorp decreased their price objective on Marvell Technology from $115.00 to $90.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Wells Fargo & Company decreased their price objective on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating for the company in a report on Friday, May 30th. TD Cowen boosted their price objective on Marvell Technology from $60.00 to $70.00 and gave the company a "buy" rating in a report on Friday, May 30th. Finally, Susquehanna decreased their price target on Marvell Technology from $110.00 to $90.00 and set a "positive" rating for the company in a report on Tuesday, May 27th. Eight analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Marvell Technology has an average rating of "Moderate Buy" and a consensus target price of $94.47.

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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