Integrated Advisors Network LLC Sells 4,334 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Integrated Advisors Network LLC lessened its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 53.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,815 shares of the semiconductor company’s stock after selling 4,334 shares during the quarter. Integrated Advisors Network LLC’s holdings in Marvell Technology were worth $235,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC bought a new position in Marvell Technology during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new stake in shares of Marvell Technology in the 4th quarter valued at $27,000. Lee Danner & Bass Inc. bought a new stake in shares of Marvell Technology in the 4th quarter valued at $35,000. Capital Analysts LLC increased its stake in shares of Marvell Technology by 236.3% in the 4th quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 241 shares in the last quarter. Finally, Sierra Ocean LLC bought a new stake in shares of Marvell Technology in the 4th quarter valued at $44,000. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $67.19 on Monday. The company’s 50-day moving average is $60.30 and its 200 day moving average is $85.13. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The company has a market capitalization of $58.04 billion, a P/E ratio of -39.52, a price-to-earnings-growth ratio of 1.61 and a beta of 1.76. Marvell Technology, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $127.48.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. Marvell Technology had a negative net margin of 27.49% and a positive return on equity of 4.59%. The firm’s quarterly revenue was up 63.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 EPS. On average, equities research analysts forecast that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.36%. Marvell Technology’s dividend payout ratio (DPR) is currently -42.11%.

Analyst Ratings Changes

Several analysts have recently weighed in on MRVL shares. Citigroup lowered their price objective on shares of Marvell Technology from $122.00 to $96.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Morgan Stanley lifted their price objective on shares of Marvell Technology from $70.00 to $73.00 and gave the company an “equal weight” rating in a research note on Friday, May 30th. China Renaissance started coverage on shares of Marvell Technology in a research note on Thursday, June 5th. They issued a “buy” rating and a $110.00 price objective for the company. Raymond James reiterated an “outperform” rating and issued a $90.00 price objective (down previously from $110.00) on shares of Marvell Technology in a research note on Friday, May 30th. Finally, B. Riley lowered their price objective on shares of Marvell Technology from $135.00 to $110.00 and set a “buy” rating for the company in a research note on Monday, May 19th. Seven investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and a consensus price target of $94.73.

Insider Buying and Selling

In other Marvell Technology news, EVP Mark Casper sold 12,460 shares of the stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $685,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Chris Koopmans sold 6,000 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $65.10, for a total transaction of $390,600.00. Following the transaction, the chief operating officer now owns 92,065 shares of the company’s stock, valued at $5,993,431.50. This represents a 6.12% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,611 shares of company stock valued at $1,465,411. 0.19% of the stock is owned by insiders.

Marvell Technology 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.