Wealthfront Advisers LLC Acquires 30,034 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Wealthfront Advisers LLC grew its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 61.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,291 shares of the semiconductor company's stock after acquiring an additional 30,034 shares during the quarter. Wealthfront Advisers LLC's holdings in Marvell Technology were worth $4,882,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Bank Pictet & Cie Europe AG boosted its holdings in Marvell Technology by 0.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 66,710 shares of the semiconductor company's stock worth $7,368,000 after acquiring an additional 460 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Marvell Technology during the fourth quarter valued at approximately $361,000. AlphaQuest LLC purchased a new stake in shares of Marvell Technology in the fourth quarter worth approximately $61,000. Harbour Investments Inc. increased its holdings in Marvell Technology by 42.1% during the 4th quarter. Harbour Investments Inc. now owns 2,068 shares of the semiconductor company's stock worth $228,000 after purchasing an additional 613 shares during the period. Finally, Parallel Advisors LLC boosted its position in shares of Marvell Technology by 8.2% in the 4th quarter. Parallel Advisors LLC now owns 10,588 shares of the semiconductor company's stock worth $1,170,000 after purchasing an additional 799 shares in the last quarter. Institutional investors own 83.51% of the company's stock.

Wall Street Analysts Forecast Growth

MRVL has been the topic of several research reports. B. Riley reaffirmed a "buy" rating and set a $115.00 price objective (up previously from $110.00) on shares of Marvell Technology in a report on Wednesday, June 18th. Raymond James Financial restated an "outperform" rating and issued a $90.00 target price (down previously from $110.00) on shares of Marvell Technology in a research note on Friday, May 30th. Needham & Company LLC lowered shares of Marvell Technology from a "buy" rating to a "cautious" rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Marvell Technology from $100.00 to $85.00 and set a "buy" rating on the stock in a 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 for the company in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.47.

Marvell Technology Trading Up 1.6%

MRVL stock opened at $72.01 on Friday. The stock has a market capitalization of $62.20 billion, a price-to-earnings ratio of -126.33, a P/E/G ratio of 0.77 and a beta of 1.81. Marvell Technology, Inc. has a fifty-two week low of $47.09 and a fifty-two week 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 has a fifty day moving average price of $68.81 and a 200 day moving average price of $79.37.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. The firm had revenue of $1.90 billion for 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 company's revenue was up 63.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 EPS. Analysts expect that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Announces Dividend

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

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CAO Panteha Dixon sold 1,286 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $65.00, for a total value of $83,590.00. Following the completion of the sale, the chief accounting officer directly owned 32,094 shares of the company's stock, valued at $2,086,110. The trade was a 3.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Monday, June 16th. The stock was 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 owned 121,348 shares in the company, valued at $8,314,764.96. The trade was a 1.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,394 shares of company stock worth $1,656,076. 0.19% of the stock is owned by insiders.

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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