Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. lifted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 21.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,392 shares of the semiconductor company's stock after acquiring an additional 3,648 shares during the period. Stratos Wealth Partners LTD.'s holdings in Marvell Technology were worth $1,256,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Rossby Financial LCC acquired a new stake in Marvell Technology in the first quarter valued at approximately $27,000. Security National Bank bought a new stake in Marvell Technology in the first quarter valued at about $31,000. Lee Danner & Bass Inc. bought a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $35,000. Capital Analysts LLC lifted its stake in Marvell Technology by 236.3% during 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, Garde Capital Inc. acquired a new position in Marvell Technology in the first quarter worth $39,000. Institutional investors and hedge funds own 83.51% of the company's stock.

Marvell Technology Price Performance

Shares of NASDAQ MRVL traded down $0.10 during midday trading on Tuesday, hitting $72.41. 15,628,872 shares of the company's stock were exchanged, compared to its average volume of 15,780,014. The company has a market cap of $62.55 billion, a price-to-earnings ratio of -127.04, a PEG ratio of 0.79 and a beta of 1.81. The business's fifty day moving average price is $67.80 and its two-hundred day moving average price is $80.05. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. Marvell Technology, Inc. has a 12-month low of $47.09 and a 12-month high of $127.48.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.01. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. The business's revenue was up 63.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.24 earnings per share. As a group, research analysts forecast that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

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

Analysts Set New Price Targets

MRVL has been the topic of a number of recent analyst reports. Loop Capital dropped their price target on shares of Marvell Technology from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Cantor Fitzgerald boosted their target price on shares of Marvell Technology from $60.00 to $75.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th. Raymond James Financial reiterated an "outperform" rating and issued a $90.00 target price (down from $110.00) on shares of Marvell Technology in a report on Friday, May 30th. B. Riley reaffirmed a "buy" rating and set a $115.00 target price (up previously from $110.00) on shares of Marvell Technology in a research note on Wednesday, June 18th. Finally, Wells Fargo & Company decreased their target price on shares of Marvell Technology from $120.00 to $95.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. Eight analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $94.47.

Insider Activity

In related news, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $65.10, for a total transaction of $390,600.00. Following the transaction, the chief operating officer directly owned 92,065 shares of the company's stock, valued at $5,993,431.50. This trade represents a 6.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Panteha Dixon sold 1,283 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $68.50, for a total transaction of $87,885.50. Following the completion of the transaction, the chief accounting officer owned 29,572 shares of the company's stock, valued at $2,025,682. This represents a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,394 shares of company stock worth $1,656,076 in the last quarter. 0.33% of the stock is currently owned by insiders.

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.