Stratos Wealth Advisors LLC Invests $255,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Stratos Wealth Advisors LLC purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,145 shares of the semiconductor company's stock, valued at approximately $255,000.

Several other large investors have also added to or reduced their stakes in MRVL. Bank Pictet & Cie Europe AG lifted its position in Marvell Technology by 0.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 66,710 shares of the semiconductor company's stock valued at $7,368,000 after acquiring an additional 460 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Marvell Technology in the 4th quarter valued at about $361,000. AlphaQuest LLC bought a new position in shares of Marvell Technology during the 4th quarter worth approximately $61,000. Sequoia Financial Advisors LLC lifted its position in shares of Marvell Technology by 2.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 15,398 shares of the semiconductor company's stock worth $1,701,000 after buying an additional 326 shares in the last quarter. Finally, Great Lakes Advisors LLC lifted its position in shares of Marvell Technology by 143.6% during the 4th quarter. Great Lakes Advisors LLC now owns 13,932 shares of the semiconductor company's stock worth $1,539,000 after buying an additional 8,213 shares in the last quarter. Institutional investors own 83.51% of the company's stock.

Insider Activity

In other news, CAO Panteha Dixon sold 1,286 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $65.00, for a total transaction of $83,590.00. Following the completion of the transaction, the chief accounting officer directly owned 32,094 shares in the company, valued at $2,086,110. The trade was a 3.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction of $102,780.00. Following the transaction, the chief financial officer owned 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. Insiders have sold 27,394 shares of company stock valued at $1,656,076 over the last 90 days. Company insiders own 0.19% of the company's stock.

Marvell Technology Stock Down 0.9%

Marvell Technology stock opened at $72.71 on Friday. Marvell Technology, Inc. has a 1-year low of $47.09 and a 1-year high of $127.48. The firm has a market capitalization of $62.81 billion, a price-to-earnings ratio of -127.56, a P/E/G ratio of 0.80 and a beta of 1.81. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. The firm has a 50 day simple moving average of $67.80 and a 200 day simple moving average of $80.54.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released 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. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.88 billion. Marvell Technology had a negative net margin of 7.56% and a positive return on equity of 8.42%. The business's revenue for the quarter was up 63.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 EPS. On average, analysts predict that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, July 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.33%. Marvell Technology's dividend payout ratio (DPR) is currently -42.11%.

Analysts Set New Price Targets

Several equities analysts have commented on MRVL shares. Benchmark reissued a "buy" rating and set a $95.00 target price on shares of Marvell Technology in a research report on Wednesday, June 18th. KeyCorp dropped their target price on shares of Marvell Technology from $115.00 to $90.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Susquehanna dropped their target price on shares of Marvell Technology from $110.00 to $90.00 and set a "positive" rating on the stock in a research report on Tuesday, May 27th. Morgan Stanley lifted their target price on shares of Marvell Technology from $70.00 to $73.00 and gave the stock an "equal weight" rating in a research report on Friday, May 30th. Finally, Citigroup dropped their target price on shares of Marvell Technology from $122.00 to $96.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.47.

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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