Strategic Advisors LLC Cuts Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Strategic Advisors LLC decreased its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 77.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,193 shares of the semiconductor company's stock after selling 39,052 shares during the period. Strategic Advisors LLC's holdings in Marvell Technology were worth $689,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Intrepid Financial Planning Group LLC grew its stake in shares of Marvell Technology by 0.3% in the fourth quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company's stock worth $2,860,000 after acquiring an additional 90 shares in the last quarter. PDS Planning Inc grew its stake in shares of Marvell Technology by 3.3% in the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock worth $319,000 after acquiring an additional 92 shares in the last quarter. Private Trust Co. NA grew its stake in shares of Marvell Technology by 2.7% in the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock worth $414,000 after acquiring an additional 97 shares in the last quarter. Tradewinds LLC. grew its stake in shares of Marvell Technology by 0.7% in the fourth quarter. Tradewinds LLC. now owns 14,050 shares of the semiconductor company's stock worth $1,552,000 after acquiring an additional 101 shares in the last quarter. Finally, SRS Capital Advisors Inc. grew its stake in shares of Marvell Technology by 19.3% in the fourth quarter. SRS Capital Advisors Inc. now owns 693 shares of the semiconductor company's stock worth $77,000 after acquiring an additional 112 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $70.42 on Tuesday. The company has a 50-day simple moving average of $60.71 and a 200-day simple moving average of $84.98. 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 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The stock has a market capitalization of $60.83 billion, a price-to-earnings ratio of -41.42, a PEG ratio of 1.61 and a beta of 1.76.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.01. Marvell Technology had a negative net margin of 27.49% and a positive return on equity of 4.59%. The firm had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same period in the prior year, the company posted $0.24 earnings per share. The firm's revenue for the quarter was up 63.3% on a year-over-year basis. On average, analysts predict that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, July 11th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.34%. The ex-dividend date is Friday, July 11th. Marvell Technology's dividend payout ratio is currently -42.11%.

Insider Activity

In other Marvell Technology news, EVP Mark Casper sold 12,460 shares of Marvell Technology stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $685,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $68.52, for a total transaction of $102,780.00. Following the completion of the sale, the chief financial officer now owns 121,348 shares of the company's stock, valued at $8,314,764.96. This trade represents a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 27,394 shares of company stock valued at $1,656,076. Company insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

MRVL has been the subject of several research reports. Morgan Stanley boosted their price target on shares of Marvell Technology from $70.00 to $73.00 and gave the stock an "equal weight" rating in a research note on Friday, May 30th. Susquehanna lowered their target price on shares of Marvell Technology from $110.00 to $90.00 and set a "positive" rating for the company in a research note on Tuesday, May 27th. Bank of America lowered their target price on shares of Marvell Technology from $120.00 to $72.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Melius downgraded shares of Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 target price for the company. in a research note on Thursday, May 22nd. Finally, China Renaissance began coverage on shares of Marvell Technology in a research note on Thursday, June 5th. They set a "buy" rating and a $110.00 target price for the company. Seven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Marvell Technology currently has a consensus rating of "Moderate Buy" and an average target price of $94.73.

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.

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