Private Advisor Group LLC Decreases Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Private Advisor Group LLC lowered its stake in Marvell Technology, Inc. (NASDAQ:MRVLFree Report) by 7.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,003 shares of the semiconductor company’s stock after selling 3,675 shares during the quarter. Private Advisor Group LLC’s holdings in Marvell Technology were worth $3,332,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. SJS Investment Consulting Inc. increased its holdings in shares of Marvell Technology by 56.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock worth $26,000 after buying an additional 155 shares during the last quarter. Bruce G. Allen Investments LLC increased its holdings in shares of Marvell Technology by 56.4% in the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after buying an additional 141 shares during the last quarter. Oliver Lagore Vanvalin Investment Group increased its holdings 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 worth $31,000 after buying an additional 165 shares during the last quarter. Raleigh Capital Management Inc. increased its holdings in shares of Marvell Technology by 532.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 626 shares of the semiconductor company’s stock worth $34,000 after buying an additional 527 shares during the last quarter. Finally, Optimum Investment Advisors bought a new stake in shares of Marvell Technology in the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. KeyCorp reduced their target price on shares of Marvell Technology from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, April 8th. Jefferies Financial Group assumed coverage on shares of Marvell Technology in a report on Monday, May 13th. They issued a “buy” rating and a $85.00 target price on the stock. Stifel Nicolaus upped their price target on shares of Marvell Technology from $86.00 to $90.00 and gave the company a “buy” rating in a report on Friday, May 31st. StockNews.com downgraded shares of Marvell Technology from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 price target on shares of Marvell Technology in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

View Our Latest Stock Analysis on MRVL

Insider Activity at Marvell Technology

In related news, EVP Mark Casper sold 2,500 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $70.07, for a total transaction of $175,175.00. Following the completion of the sale, the executive vice president now owns 20,450 shares of the company’s stock, valued at $1,432,931.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Mark Casper sold 2,500 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $70.07, for a total transaction of $175,175.00. Following the completion of the sale, the executive vice president now owns 20,450 shares of the company’s stock, valued at $1,432,931.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $73.42, for a total transaction of $367,100.00. Following the sale, the executive vice president now directly owns 115,318 shares of the company’s stock, valued at approximately $8,466,647.56. The disclosure for this sale can be found here. Insiders sold 81,000 shares of company stock valued at $5,607,740 over the last 90 days. Insiders own 0.33% of the company’s stock.

Marvell Technology Trading Down 0.2 %

Shares of MRVL opened at $72.08 on Monday. The company has a 50 day moving average price of $70.87 and a 200-day moving average price of $68.94. Marvell Technology, Inc. has a fifty-two week low of $46.07 and a fifty-two week high of $85.76. 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 (NASDAQ:MRVLGet Free Report) last announced its quarterly earnings results on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. Marvell Technology had a negative net margin of 18.33% and a positive return on equity of 4.51%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the company earned $0.17 EPS. The company’s revenue was down 12.2% compared to the same quarter last year. As a group, research analysts forecast that Marvell Technology, Inc. will post 0.75 EPS for the current year.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 12th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, July 12th. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. Marvell Technology’s payout ratio is -21.24%.

Marvell Technology Profile

(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 and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.

Further Reading

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

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