Trek Financial LLC Has $255,000 Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Trek Financial LLC lessened its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 85.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,141 shares of the semiconductor company's stock after selling 23,548 shares during the quarter. Trek Financial LLC's holdings in Marvell Technology were worth $255,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Marvell Technology in the fourth quarter worth $234,000. Dynamic Advisor Solutions LLC increased its stake in Marvell Technology by 5.0% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 4,313 shares of the semiconductor company's stock worth $266,000 after buying an additional 206 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Marvell Technology during the 4th quarter valued at about $45,211,000. Yousif Capital Management LLC increased its position in Marvell Technology by 8.4% during the 1st quarter. Yousif Capital Management LLC now owns 15,057 shares of the semiconductor company's stock valued at $927,000 after purchasing an additional 1,164 shares during the period. Finally, Greykasell Wealth Strategies Inc. purchased a new position in Marvell Technology during the 4th quarter valued at about $818,000. Hedge funds and other institutional investors own 83.51% of the company's stock.

Marvell Technology Trading Down 1.1%

Shares of NASDAQ:MRVL traded down $0.79 during trading on Friday, reaching $72.51. 5,298,904 shares of the stock were exchanged, compared to its average volume of 18,927,734. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 1.30. Marvell Technology, Inc. has a 12-month low of $47.08 and a 12-month high of $127.48. The firm has a market cap of $62.64 billion, a price-to-earnings ratio of -127.21, a price-to-earnings-growth ratio of 0.78 and a beta of 1.81. The firm's 50-day moving average price is $67.59 and its 200 day moving average price is $80.84.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, beating the consensus estimate 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 company 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 business posted $0.24 EPS. The business's revenue was up 63.3% on a year-over-year basis. On average, sell-side analysts anticipate that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal 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 issued a dividend of $0.06 per share. The ex-dividend date is Friday, July 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.33%. Marvell Technology's dividend payout ratio is -42.11%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MRVL shares. KeyCorp cut their price objective 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. China Renaissance initiated coverage on shares of Marvell Technology in a research note on Thursday, June 5th. They issued a "buy" rating and a $110.00 target price for the company. Needham & Company LLC reiterated a "buy" rating and issued a $85.00 target price on shares of Marvell Technology in a research note on Wednesday, June 18th. Stifel Nicolaus lowered their target price on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Finally, Morgan Stanley lifted their price objective on shares of Marvell Technology from $70.00 to $73.00 and gave the company an "equal weight" rating in a research note on Friday, May 30th. Seven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Marvell Technology presently has an average rating of "Moderate Buy" and a consensus target price of $94.47.

Insider Transactions at Marvell Technology

In other news, COO Chris Koopmans sold 6,000 shares of the business's stock in a transaction that occurred 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the company'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 completion of the sale, the chief financial officer owned 121,348 shares in the company, 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 in the last quarter. Corporate insiders own 0.19% of the company's stock.

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.