Xcel Wealth Management LLC Has $871,000 Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Xcel Wealth Management LLC increased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 245.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,153 shares of the semiconductor company's stock after acquiring an additional 10,053 shares during the period. Xcel Wealth Management LLC's holdings in Marvell Technology were worth $871,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Rialto Wealth Management LLC acquired a new position in shares of Marvell Technology during the 4th quarter worth $27,000. Lee Danner & Bass Inc. acquired a new stake in shares of Marvell Technology in the 4th quarter valued at $35,000. Capital Analysts LLC boosted its holdings in Marvell Technology by 236.3% in 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 in the last quarter. Chelsea Counsel Co. acquired a new position in Marvell Technology during the fourth quarter worth $44,000. Finally, Bernard Wealth Management Corp. bought a new position in Marvell Technology during the fourth quarter valued at about $45,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on MRVL shares. Needham & Company LLC reiterated a "buy" rating and set a $85.00 price target on shares of Marvell Technology in a research note on Wednesday, June 18th. Evercore ISI reduced their target price on Marvell Technology from $135.00 to $133.00 and set an "outperform" rating for the company in a report on Friday, May 30th. Melius downgraded Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 price target on the stock. in a report on Thursday, May 22nd. Susquehanna reduced their price objective on shares of Marvell Technology from $110.00 to $90.00 and set a "positive" rating for the company in a research note on Tuesday, May 27th. Finally, Cantor Fitzgerald raised their target price on shares of Marvell Technology from $60.00 to $75.00 and gave the company a "neutral" rating in a research note on Wednesday, June 18th. Six equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Marvell Technology currently has an average rating of "Moderate Buy" and an average target price of $96.33.

Marvell Technology Price Performance

MRVL stock traded up $0.90 during trading on Friday, hitting $75.15. The company had a trading volume of 10,217,992 shares, compared to its average volume of 15,647,810. The company has a fifty day moving average price of $66.22 and a two-hundred day moving average price of $82.14. 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 market cap of $64.92 billion, a P/E ratio of -131.84, a P/E/G ratio of 0.80 and a beta of 1.81. 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 (NASDAQ:MRVL - Get Free Report) last announced its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.01. Marvell Technology had a negative net margin of 7.56% and a positive return on equity of 8.42%. The business had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same quarter last year, the company posted $0.24 EPS. The firm's revenue for the quarter was up 63.3% on a year-over-year basis. Equities research analysts expect that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.32%. The ex-dividend date is Friday, July 11th. Marvell Technology's payout ratio is currently -42.11%.

Insiders Place Their Bets

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $65.10, for a total value of $390,600.00. Following the completion of the transaction, the chief operating officer owned 92,065 shares in the company, valued at approximately $5,993,431.50. The trade was a 6.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Panteha Dixon sold 1,283 shares of Marvell Technology stock in a transaction on Monday, June 16th. The shares were sold at an average price of $68.50, for a total value of $87,885.50. Following the completion of the sale, the chief accounting officer directly owned 29,572 shares of the company's stock, valued at $2,025,682. This trade represents a 4.16% 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 90 days. Insiders own 0.19% of the company's stock.

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.