Allworth Financial LP raised its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL – Get Rating ) by 94.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,320 shares of the semiconductor company’s stock after buying an additional 1,125 shares during the period. Allworth Financial LP’s holdings in Marvell Technology were worth $166,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. 180 Wealth Advisors LLC boosted its stake in Marvell Technology by 7.0% in the 1st quarter. 180 Wealth Advisors LLC now owns 7,530 shares of the semiconductor company’s stock valued at $480,000 after buying an additional 491 shares in the last quarter. Vident Investment Advisory LLC boosted its position in Marvell Technology by 27.5% in the 4th quarter. Vident Investment Advisory LLC now owns 84,562 shares of the semiconductor company’s stock worth $7,399,000 after buying an additional 18,259 shares during the last quarter. American Trust bought a new position in Marvell Technology in the 4th quarter worth about $370,000. Tufton Capital Management bought a new position in Marvell Technology in the 4th quarter worth about $244,000. Finally, Yarbrough Capital LLC boosted its position in shares of Marvell Technology by 20.8% during the first quarter. Yarbrough Capital LLC now owns 9,395 shares of the semiconductor company’s stock worth $674,000 after buying an additional 1,620 shares during the last quarter. Hedge funds and other institutional investors own 83.11% of the company’s shares.
Shares of MRVL opened at $46.99 on Friday. The company has a market cap of $39.94 billion, a PE ratio of -77.03, a P/E/G ratio of 1.80 and a beta of 1.38. The business has a fifty day moving average of $52.65 and a 200 day moving average of $64.88. Marvell Technology, Inc. it has a 52-week low of $41.07 and a 52-week high of $93.85. The company has a quick ratio of 1.13, a current ratio of 1.67, and a debt-to-equity ratio of 0.29.
Marvell Technology (NASDAQ:MRVL – Get Rating ) last issued its quarterly earnings results on Thursday, May 26th. The semiconductor company reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. Marvell Technology had a positive return on equity of 6.92% and a negative net margin of 9.82%. Marvell Technology’s revenue grew 73.8% year over year. During the same period last year, the company earned $0.15 per share. As a group, research analysts anticipate that Marvell Technology, Inc. will post 1.69 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Friday, July 8th will be given a $0.06 dividend. The ex-dividend date of this dividend is Thursday, July 7th. This represents a dividend of $0.24 on an annual basis and a yield of 0.51%. Marvell Technology’s dividend payout ratio is currently -39.34%.
In other Marvell Technology news, EVP Mitchell Gaynor sold 5,000 shares of the stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of $48.80, for a total value of $244,000.00. Following the sale, the executive vice president now owns 120,563 shares in the company, valued at $5,883,474.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC’s website. Also, EVP Dan Christman sold 4,810 shares of the stock in a transaction on Monday, May 16th. The stock was sold at an average price of $57.28, for a total value of $275,516.80. Following the completion of the sale, the executive vice president now owns 108,393 shares in the company, valued at approximately $6,208,751.04. Disclosure for this sale can be found here. Over the last 90 days, insiders sold 138,165 shares of company stock worth $8,316,271. 0.45% of the shares are owned by domestic corporations.
Several equities research analysts have recently commented on the stock. KeyCorp reduced their price objective on shares of Marvell Technology from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, May 27th. Raymond James reaffirmed a “buy” rating and set a $80.00 price objective on shares of Marvell Technology in a research report on Friday, May 27th. Bank of America reduced their price objective on shares of Marvell Technology from $90.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, June 29th. Oppenheimer decreased their target price on shares of Marvell Technology from $110.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, May 20th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Marvell Technology from $80.00 to $75.00 in a report on Friday, May 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-five have issued a buy rating to the stock. The stock presently has a consensus rating of “Moderate Buy” and an average price target of $86.62, according to MarketBeat .
Marvell Technology Profile (Get rating)
Marvell Technology, Inc., together with its subsidiaries, designs, develops and sells analog, mixed, digital signal processing, as well as integrated and stand-alone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers and switches; single or multiple processors; ASICs; and System-on-a-Chip printer products and application processors.
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