Old North State Trust LLC Purchases New Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Old North State Trust LLC purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVLFree Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,133 shares of the semiconductor company’s stock, valued at approximately $179,000.

A number of other institutional investors have also recently modified their holdings of MRVL. Barrett & Company Inc. purchased a new stake in shares of Marvell Technology in the first quarter valued at approximately $26,000. Resurgent Financial Advisors LLC purchased a new stake in Marvell Technology during the fourth quarter worth $28,000. KB Financial Partners LLC purchased a new stake in Marvell Technology during the first quarter worth $32,000. Oakworth Capital Inc. purchased a new stake in Marvell Technology during the first quarter worth $33,000. Finally, CoreCap Advisors LLC purchased a new stake in Marvell Technology during the fourth quarter worth $36,000. 83.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on MRVL. JPMorgan Chase & Co. boosted their target price on Marvell Technology from $60.00 to $70.00 in a research report on Friday, May 26th. Morgan Stanley decreased their target price on Marvell Technology from $68.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Friday, August 25th. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 target price on shares of Marvell Technology in a research report on Tuesday, August 22nd. KeyCorp boosted their target price on Marvell Technology from $70.00 to $80.00 in a research report on Tuesday, July 11th. Finally, Oppenheimer reiterated an “outperform” rating and set a $70.00 target price on shares of Marvell Technology in a research report on Friday, August 25th. Two analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.73.

View Our Latest Stock Report on Marvell Technology

Insider Transactions at Marvell Technology

In other news, CEO Matthew J. Murphy sold 30,000 shares of the company’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $60.88, for a total value of $1,826,400.00. Following the completion of the sale, the chief executive officer now owns 961,125 shares of the company’s stock, valued at $58,513,290. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Matthew J. Murphy sold 30,000 shares of the company’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $60.88, for a total value of $1,826,400.00. Following the completion of the sale, the chief executive officer now owns 961,125 shares of the company’s stock, valued at $58,513,290. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Chris Koopmans sold 2,000 shares of the company’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $63.56, for a total value of $127,120.00. Following the completion of the sale, the executive vice president now directly owns 138,737 shares of the company’s stock, valued at approximately $8,818,123.72. The disclosure for this sale can be found here. Insiders sold 142,434 shares of company stock valued at $8,616,491 over the last quarter. Company insiders own 0.45% of the company’s stock.

Marvell Technology Price Performance

MRVL stock opened at $54.49 on Friday. The stock has a 50-day moving average price of $60.13 and a two-hundred day moving average price of $52.01. Marvell Technology, Inc. has a 12-month low of $33.75 and a 12-month high of $67.99. The company has a current ratio of 1.03, a quick ratio of 0.65 and a debt-to-equity ratio of 0.20. The company has a market cap of $47.01 billion, a PE ratio of -123.84, a price-to-earnings-growth ratio of 6.91 and a beta of 1.43.

Marvell Technology (NASDAQ:MRVLGet Free Report) last posted its quarterly earnings results on Thursday, August 24th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. Marvell Technology had a positive return on equity of 6.13% and a negative net margin of 6.74%. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the business earned $0.41 earnings per share. The firm’s quarterly revenue was down 11.6% compared to the same quarter last year. As a group, research analysts predict that Marvell Technology, Inc. will post 0.88 EPS for the current year.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Friday, October 6th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.44%. Marvell Technology’s payout ratio is -54.55%.

About Marvell Technology

(Free Report)

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops, scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.

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Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)

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