Linden Thomas Advisory Services LLC reduced its stake in Marvell Technology, Inc. (NASDAQ:MRVL – free report ) by 2.6% during the second quarter, according to the latest filing with the SEC. The institutional investor now holds 9,005 shares of the semiconductor company's stock, selling 242 shares during the quarter. Linden Thomas Advisory Services LLC's holdings in Marvell Technology were valued at $629,000 as of the latest filing with the SEC.
Other large investors have also been buying and selling the stock recently. Bruce G. Allen Investments LLC increased its holdings in Marvel Technology by 56.4% in the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company's stock, valued at $28,000, after purchasing an additional 141 shares in the last quarter. True Blood Wealth Management LLC increased its holdings in Marvel Technology by 3.2% in the first quarter. True Blood Wealth Management LLC now owns 4,944 shares of the semiconductor company's stock, valued at $350,000, after purchasing an additional 152 shares during the period. Edmund D. E. Rothschild Holdings SA increased its holdings in Marvel Technology by 0.5% in the fourth quarter. Edmond DE Rothschild Holding SA now owns 30,764 shares of the semiconductor company's stock valued at $1,855,000 after acquiring an additional 162 shares in the last quarter. Oliver Lagore Vanvalin Investment Group increased its holdings in Marvell Technology by 46.2% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company's stock valued at $31,000 after acquiring an additional 165 shares during the period. Finally, Sheaff Brock Investment Advisors LLC increased its holdings in Marvell Technology by 0.4% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 44,342 shares of the semiconductor company's stock valued at $3,143,000 after acquiring an additional 168 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.
Wall Street analysts predict growth
A number of equity analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed their “overweight” rating on shares of Marvel Technology and set a $85.00 price target in a research report on Friday, May 31st. Jefferies Financial Group initiated coverage on Marvel Technology in a research report on Monday, May 13th. The firm issued a “buy” rating and a $85.00 price target on the stock. B. Riley raised their price target on Marvel Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Barclays raised their price target on Marvel Technology from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, May 31st. Finally, Stifel Nicolaus increased their price objective on Marvell Technology from $86.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, May 31. One equities research analyst has rated the stock with a sell rating, one with a hold rating, and 20 with a buy rating. According to data from MarketBeat.com, the company currently has an average rating of a “moderate buy” and a consensus target price of $85.50.
View the latest Marvell Technology stock report
Insider Activities
In related news, Director Daniel Dern acquired 1,425 shares of the company's stock in a transaction on Monday, June 24th. The shares were purchased at an average price of $70.21 per share, for a total transaction value of $100,049.25. With this acquisition, the director now owns 1,923 shares of the company's stock, valued at $135,013.83. The transaction was disclosed in a document filed with the SEC, which can be accessed at the SEC's website. In related news, Director Daniel Dern acquired 1,425 shares of the company's stock in a transaction on Monday, June 24th. The shares were purchased at an average price of $70.21 per share, for a total transaction value of $100,049.25. With this acquisition, the director now owns 1,923 shares of the company's stock, valued at $135,013.83. The acquisition was disclosed in a document filed with the SEC, which can be accessed at this hyperlink. Additionally, CFO Willem A. Meintjes sold 1,500 shares of the company's stock in a transaction on Monday, July 15th. The shares were sold at an average price of $73.88, for a total transaction value of $110,820.00. Following the completion of the transaction, the CFO now directly owns 109,318 shares of the company's stock, valued at $8,076,413.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 99,000 shares of the company's stock for $7,190,745. Insiders own 0.33% of the company's stock.
Marvell Technology Stock Performance
MRVL shares opened trading at $61.16 on Friday. The company's 50-day simple moving average is $68.73 and its 200-day simple moving average is $69.55. The company's market cap is $52.94 billion, its P/E ratio is -54.12, its PEG ratio is 2.99 and its beta is 1.47. The company's quick ratio is 1.24, its current ratio is 1.80 and its debt-to-equity ratio is 0.28. Marvell Technology, Inc.'s 52-week low is $46.07 and its 52-week high is $85.76.
Marvell Technology (NASDAQ:MRVL – Get Free Report ) announced its latest earnings results on Thursday, May 30th. The semiconductor company reported quarterly earnings per share of $0.24, hitting analysts' consensus estimates of $0.24. The company's quarterly revenue was $1.16 billion, beating the consensus estimate of $1.15 billion. Marvell Technology had a return on equity of positive 4.51% and a net margin of negative 18.33%. The company's quarterly revenue was down 12.2% year over year. Earnings per share in the same period last year were $0.17. Sell-side analysts expect Marvell Technology, Inc. to post earnings per share of $0.75 for the current fiscal year.
Marvel Technology Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th were paid a $0.06 dividend. The ex-dividend date for this dividend was Friday, July 12th. This works out to an annualized dividend of $0.24, for a dividend yield of 0.39%. Marvell Technology's dividend payout ratio is currently -21.24%.
Marvel Technology Company Profile
(Free report)
Marvell Technology, Inc., together with its subsidiaries, provides data infrastructure semiconductor solutions ranging from the data center core to the network edge. The company develops and scales complex system-on-chip architectures that integrate analog, mixed-signal, and digital signal processing capabilities.
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