Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by Wedbush Securities Inc.

Key Points

• Wedbush Securities Inc. increased its holdings in Marvell Technology, Inc. by 32.8% during the first quarter, now owning 13,723 shares valued at $845,000.
• Marvell Technology reported $0.62 earnings per share for the last quarter, exceeding analysts' expectations, and experienced a 63.3% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.06 per share, with an annualized yield of 0.32%, set to be paid on July 31st.

Wedbush Securities Inc. lifted its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 32.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,723 shares of the semiconductor company's stock after purchasing an additional 3,391 shares during the period. Wedbush Securities Inc.'s holdings in Marvell Technology were worth $845,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brown Advisory Inc. increased its stake in Marvell Technology by 2.2% during the 1st quarter. Brown Advisory Inc. now owns 19,300,527 shares of the semiconductor company's stock valued at $1,188,333,000 after purchasing an additional 423,892 shares in the last quarter. Invesco Ltd. increased its stake in Marvell Technology by 30.1% during the 4th quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock valued at $1,784,649,000 after purchasing an additional 3,737,705 shares in the last quarter. Janus Henderson Group PLC increased its stake in Marvell Technology by 6.9% during the 4th quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company's stock valued at $1,462,274,000 after purchasing an additional 857,087 shares in the last quarter. Wellington Management Group LLP increased its stake in Marvell Technology by 43.1% during the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company's stock valued at $1,374,252,000 after purchasing an additional 3,747,982 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Marvell Technology by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company's stock valued at $1,263,755,000 after purchasing an additional 80,005 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the firm's 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 completion of the transaction, the chief operating officer directly owned 92,065 shares of the company's stock, valued at approximately $5,993,431.50. This trade represents a 6.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mark Casper sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $72.35, for a total transaction of $217,050.00. Following the transaction, the executive vice president directly owned 17,163 shares of the company's stock, valued at $1,241,743.05. This represents a 14.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,934 shares of company stock valued at $1,187,826. 0.19% of the stock is owned by corporate insiders.

Marvell Technology Stock Performance

Shares of Marvell Technology stock traded up $0.17 during midday trading on Friday, hitting $74.21. The company had a trading volume of 9,813,678 shares, compared to its average volume of 16,248,888. The stock has a market cap of $64.10 billion, a price-to-earnings ratio of -130.19, a PEG ratio of 0.80 and a beta of 1.81. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $69.95 and a 200 day simple moving average of $77.67. Marvell Technology, Inc. has a 12-month low of $47.08 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 EPS 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 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%. Marvell Technology's revenue was up 63.3% on a year-over-year basis. During the same period last year, the firm posted $0.24 EPS. As a group, analysts predict that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, July 11th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Friday, July 11th. Marvell Technology's dividend payout ratio is presently -42.11%.

Analyst Ratings Changes

MRVL has been the subject of a number of research analyst reports. Melius Research lifted their price target on shares of Marvell Technology from $67.00 to $76.00 and gave the stock a "hold" rating in a research note on Wednesday, June 18th. Melius lowered shares of Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 price target for the company. in a research note on Thursday, May 22nd. UBS Group restated a "buy" rating on shares of Marvell Technology in a research report on Monday, June 2nd. Bank of America boosted their target price on shares of Marvell Technology from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Finally, Rosenblatt Securities restated a "buy" rating and set a $124.00 target price on shares of Marvell Technology in a research report on Wednesday, June 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Marvell Technology currently has an average rating of "Moderate Buy" and an average price target of $94.47.

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.