Orion Portfolio Solutions LLC increased its holdings in Marvell Technology, Inc. (NASDAQ:MRVL – free report ) by 47.1% in the first quarter, according to the latest disclosures made to the Securities and Exchange Commission. The institutional investor bought an additional 10,306 shares during the quarter, giving it a total holding of 32,191 shares of the semiconductor company’s stock. Orion Portfolio Solutions LLC’s holdings in Marvell Technology were worth $2,282,000 as of the latest SEC filing.
Several other institutional investors are buying and selling shares in MRVL. SJS Investment Consulting Inc. increased its holdings in Marvell Technology by 56.8% in the fourth quarter. The firm now owns 428 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 155 shares during the last quarter. Bruce G. Allen Investments LLC increased its holdings in Marvell Technology by 56.4% in the first quarter. Bruce G. Allen Investments LLC owns 391 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 141 shares during the period. 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 purchasing an additional 165 shares during the last quarter. Salomon & Radwin LLC bought a new stake in Marvel Technology during the first quarter worth about $31,000. Finally, Optimum Investment Advisors bought a new stake in Marvel Technology during the first quarter worth about $35,000. Institutional investors now own 83.51% of the company’s shares.
Wall Street analysts predict growth
Several research analysts have commented on the stock. Citigroup rated shares of Marvel Technology with a “buy” rating and set a $91.00 price target on the stock in a research note on Wednesday, March 27th. KeyCorp raised their price target on Marvel Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Stocknews.com downgraded shares of Marvel Technology from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Evercore ISI raised their price target on Marvel Technology from $88.00 to $91.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Marvel Technology and raised their price target from $80.00 to $90.00 in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, one has given a hold rating, and 20 have given a buy rating. According to MarketBeat.com, the company’s current consensus rating is a “moderate buy” with an average target price of $85.50.
View the latest stock analysis for MRVL
Insider Trading at Marvel Technology
In related news, CFO Willem A. Meintjes sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $64.49, for a total transaction value of $64,490.00. Following the completion of the transaction, the CFO now owns 110,218 shares of the company’s stock, valued at approximately $7,107,958.82. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $69.18, for a total transaction value of $2,075,400.00. Following the completion of the sale, the Chief Executive Officer now owns 686,545 shares of the company’s stock, valued at $47,495,183.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Additionally, CFO Willem A. Meintjes sold 1,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $64.49, for a total transaction value of $64,490.00. Following the transaction, the Chief Financial Officer now owns 110,218 shares of the company’s stock, valued at approximately $7,107,958.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,000 shares of the company’s stock for $7,255,235. 0.33% of the stock is currently owned by insiders.
Marvel Technology shares fell 2.5%
MRVL’s shares began trading at $66.51 on Friday. The company’s 50-day moving average price is $71.76 and its 200-day moving average price is $69.70. The company’s quick ratio is 1.24, current ratio is 1.80 and 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 ) last released its 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 had revenue of $1.16 billion for the quarter, compared to analysts’ estimates of $1.15 billion. Marvell Technology had a return on equity of positive 4.51% and a net margin of negative 18.33%. Marvell Technology’s revenue decreased 12.2% year-over-year. Earnings per share for the same period last year were $0.17. Research analysts expect Marvell Technology, Inc. to post an EPS of 0.75 for the current year.
Marvel Technology Announces Dividend
The company also recently declared a quarterly dividend, which is scheduled to be paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th will be paid a dividend of $0.06 per share. This equates to an annualized dividend of $0.24, or a dividend yield of 0.36%. The ex-dividend date is Friday, July 12th. Marvell Technology has a dividend payout ratio of -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.
References
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