Nicolet Advisory Services LLC acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL – Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 2,868 shares of the semiconductor company’s stock, valued at approximately $210,000.
Other large investors also recently added to or reduced their stakes in the company. Raymond James Trust N.A. lifted its stake in Marvell Technology by 11.3% in the 4th quarter. Raymond James Trust N.A. now owns 14,678 shares of the semiconductor company’s stock worth $885,000 after acquiring an additional 1,496 shares in the last quarter. McGuire Investment Group LLC grew its position in Marvell Technology by 11.8% during the fourth quarter. McGuire Investment Group LLC now owns 4,250 shares of the semiconductor company’s stock valued at $256,000 after purchasing an additional 450 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Marvell Technology in the 4th quarter valued at approximately $331,000. HB Wealth Management LLC boosted its stake in shares of Marvell Technology by 12.4% during the 4th quarter. HB Wealth Management LLC now owns 9,452 shares of the semiconductor company’s stock valued at $570,000 after buying an additional 1,041 shares during the period. Finally, SJS Investment Consulting Inc. grew its holdings 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 acquiring an additional 155 shares in the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on MRVL. Needham & Company LLC reissued a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research report on Friday, May 31st. Roth Mkm restated a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a report on Friday, April 12th. StockNews.com cut shares of Marvell Technology from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Citigroup restated a “buy” rating and set a $91.00 price target on shares of Marvell Technology in a research note on Wednesday, March 27th. Finally, Jefferies Financial Group assumed coverage on shares of Marvell Technology in a research note on Monday, May 13th. They issued a “buy” rating and a $85.00 price objective for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.50.
Check Out Our Latest Analysis on Marvell Technology
Insider Activity at Marvell Technology
In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of Marvell Technology stock in a transaction 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 sale, the chief financial officer now owns 110,218 shares in the company, valued at $7,107,958.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of the firm’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 completion of the transaction, the chief financial officer now owns 110,218 shares in the company, valued at $7,107,958.82. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $73.88, for a total value of $110,820.00. Following the completion of the sale, the chief financial officer now owns 109,318 shares in the company, valued at $8,076,413.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,000 shares of company stock worth $7,255,235. 0.33% of the stock is owned by corporate insiders.
Marvell Technology Stock Performance
Marvell Technology stock traded up $1.00 during mid-day trading on Monday, reaching $67.51. The company had a trading volume of 2,029,347 shares, compared to its average volume of 12,642,833. The company has a quick ratio of 1.24, a current ratio of 1.80 and a debt-to-equity ratio of 0.28. The firm has a market cap of $58.44 billion, a price-to-earnings ratio of -59.50, a PEG ratio of 3.15 and a beta of 1.47. The company has a 50 day moving average of $71.76 and a 200-day moving average of $69.80. Marvell Technology, Inc. has a 52 week low of $46.07 and a 52 week high of $85.76.
Marvell Technology (NASDAQ:MRVL – Get Free Report) last announced its quarterly earnings data on Thursday, May 30th. The semiconductor company reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. Marvell Technology had a negative net margin of 18.33% and a positive return on equity of 4.51%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the business earned $0.17 earnings per share. The firm’s revenue for the quarter was down 12.2% on a year-over-year basis. On average, sell-side analysts expect that Marvell Technology, Inc. will post 0.75 EPS for the current fiscal year.
Marvell Technology Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 12th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date is Friday, July 12th. Marvell Technology’s dividend payout ratio is presently -21.24%.
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.
Further Reading
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