Orion Portfolio Solutions LLC boosted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL – Free Report) by 47.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,191 shares of the semiconductor company’s stock after purchasing an additional 10,306 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Marvell Technology were worth $2,282,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of MRVL. SJS Investment Consulting Inc. raised its position in shares of Marvell Technology by 56.8% during the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 155 shares in the last quarter. Bruce G. Allen Investments LLC raised its position in Marvell Technology by 56.4% during the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 141 shares during the period. Oliver Lagore Vanvalin Investment Group lifted its stake in shares of Marvell Technology by 46.2% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 165 shares during the last quarter. Salomon & Ludwin LLC purchased a new position in shares of Marvell Technology in the 1st quarter worth approximately $31,000. Finally, Optimum Investment Advisors bought a new position in shares of Marvell Technology during the 1st quarter valued at approximately $35,000. Institutional investors own 83.51% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. Citigroup reaffirmed a “buy” rating and set a $91.00 price objective on shares of Marvell Technology in a research note on Wednesday, March 27th. KeyCorp upped their price target on shares of Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. StockNews.com downgraded shares of Marvell Technology from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Evercore ISI upped their target price on Marvell Technology from $88.00 to $91.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Finally, Oppenheimer reiterated an “outperform” rating and issued a $90.00 price target (up from $80.00) on shares of Marvell Technology in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $85.50.
View Our Latest Stock Analysis on MRVL
Insider Buying and Selling at Marvell Technology
In related news, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $64.49, for a total transaction of $64,490.00. Following the completion of the transaction, the chief financial officer now owns 110,218 shares in the company, valued at approximately $7,107,958.82. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $69.18, for a total value of $2,075,400.00. Following the completion of the sale, the chief executive officer now owns 686,545 shares of the company’s stock, valued at $47,495,183.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $64.49, for a total transaction of $64,490.00. Following the transaction, the chief financial officer now owns 110,218 shares in the company, valued at approximately $7,107,958.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,000 shares of company stock valued at $7,255,235. 0.33% of the stock is currently owned by insiders.
Marvell Technology Trading Down 2.5 %
Shares of MRVL opened at $66.51 on Friday. The company has a 50 day moving average price of $71.76 and a 200-day moving average price of $69.70. The company has a quick ratio of 1.24, a current ratio of 1.80 and a debt-to-equity ratio of 0.28. Marvell Technology, Inc. has a fifty-two week low of $46.07 and a fifty-two week high of $85.76.
Marvell Technology (NASDAQ:MRVL – Get Free Report) last posted its earnings results on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.24. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. Marvell Technology had a positive return on equity of 4.51% and a negative net margin of 18.33%. Marvell Technology’s revenue was down 12.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.17 earnings per share. As a group, research analysts forecast that Marvell Technology, Inc. will post 0.75 EPS for the current year.
Marvell Technology Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend is Friday, July 12th. Marvell Technology’s payout ratio is -21.24%.
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.
Further Reading
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