Western Financial Corp CA Invests $1.48 Million in Marvell Technology, Inc. (NASDAQ:MRVL)

Western Financial Corp CA bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 24,017 shares of the semiconductor company's stock, valued at approximately $1,479,000.

A number of other institutional investors and hedge funds also recently modified their holdings of MRVL. Rialto Wealth Management LLC bought a new stake in shares of Marvell Technology in the 4th quarter valued at about $27,000. Security National Bank bought a new stake in shares of Marvell Technology in the 1st 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 about $35,000. Capital Analysts LLC raised its holdings in shares of Marvell Technology by 236.3% in the 4th quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 241 shares during the period. Finally, Garde Capital Inc. bought a new stake in shares of Marvell Technology in the 1st quarter valued at about $39,000. 83.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $60.00, for a total transaction of $90,000.00. Following the transaction, the chief financial officer now directly owns 124,348 shares of the company's stock, valued at $7,460,880. This represents a 1.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Casper sold 12,460 shares of the company's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $685,300.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,394 shares of company stock valued at $1,656,076. 0.19% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MRVL has been the topic of a number of research analyst reports. UBS Group reaffirmed a "buy" rating on shares of Marvell Technology in a report on Monday, June 2nd. Roth Capital set a $100.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Morgan Stanley upped their price target 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. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Marvell Technology from $100.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. Finally, KeyCorp decreased their price target on shares of Marvell Technology from $115.00 to $90.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. Six research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $96.33.

Marvell Technology Price Performance

NASDAQ:MRVL traded down $2.81 during trading hours on Friday, hitting $77.16. The company's stock had a trading volume of 27,213,956 shares, compared to its average volume of 15,490,423. The stock has a fifty day simple moving average of $64.38 and a 200-day simple moving average of $83.26. The company has a market capitalization of $66.65 billion, a P/E ratio of -135.37, a PEG ratio of 0.87 and a beta of 1.76. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.30 and a quick ratio of 0.94. Marvell Technology, Inc. has a twelve month low of $47.09 and a twelve month high of $127.48.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted 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. 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 quarterly revenue was up 63.3% on a year-over-year basis. During the same period last year, the company earned $0.24 earnings per share. On average, analysts anticipate that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Friday, July 11th. Marvell Technology's dividend payout ratio is currently -42.11%.

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.