Sequoia Financial Advisors LLC cut its holdings in Marvell Technology, Inc. (NASDAQ:MRVL – Free Report) by 6.8% in the first quarter, HoldingsChannel reports. The firm owned 11,123 shares of the semiconductor company’s stock after selling 811 shares during the period. Sequoia Financial Advisors LLC’s holdings in Marvell Technology were worth $788,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of MRVL. SJS Investment Consulting Inc. boosted its holdings in Marvell Technology by 56.8% in the fourth quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 155 shares in the last quarter. Bruce G. Allen Investments LLC boosted its holdings in Marvell Technology by 56.4% during the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 141 shares during the period. Oliver Lagore Vanvalin Investment Group boosted its holdings in Marvell Technology by 46.2% during 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. Raleigh Capital Management Inc. boosted its holdings in Marvell Technology by 532.3% during the third quarter. Raleigh Capital Management Inc. now owns 626 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 527 shares during the period. Finally, Optimum Investment Advisors bought a new stake in Marvell Technology during the first quarter valued at about $35,000. 83.51% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $64.49, for a total transaction of $64,490.00. Following the sale, the chief financial officer now directly owns 110,218 shares of the company’s stock, valued at $7,107,958.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $68.82, for a total transaction of $2,064,600.00. Following the sale, the chief executive officer now directly owns 716,545 shares of the company’s stock, valued at $49,312,626.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,000 shares of the 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 of $64,490.00. Following the sale, the chief financial officer now directly owns 110,218 shares in the company, valued at $7,107,958.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 81,000 shares of company stock valued at $5,607,740. 0.33% of the stock is currently owned by insiders.
Marvell Technology Stock Performance
NASDAQ:MRVL opened at $72.08 on Friday. Marvell Technology, Inc. has a 12-month low of $46.07 and a 12-month 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. The firm has a market capitalization of $62.39 billion, a PE ratio of -63.79, a price-to-earnings-growth ratio of 3.42 and a beta of 1.47. The firm has a 50-day moving average price of $70.87 and a 200 day moving average price of $68.86.
Marvell Technology (NASDAQ:MRVL – Get Free Report) last issued its quarterly earnings data on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Marvell Technology had a negative net margin of 18.33% and a positive return on equity of 4.51%. The company’s quarterly revenue was down 12.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 earnings per share. Research analysts anticipate that Marvell Technology, Inc. will post 0.75 earnings per share for the current fiscal year.
Marvell Technology Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, July 12th. This represents a $0.24 annualized dividend and a yield of 0.33%. Marvell Technology’s dividend payout ratio is -21.24%.
Analyst Ratings Changes
A number of equities research analysts have issued reports on MRVL shares. Roth Mkm restated a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a report on Friday, April 12th. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price target on shares of Marvell Technology in a report on Friday, May 31st. Morgan Stanley upped their price objective on shares of Marvell Technology from $71.00 to $77.00 and gave the company an “equal weight” rating in a research report on Friday, May 31st. Evercore ISI upped their price objective on shares of Marvell Technology from $88.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research report on Friday, May 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.00.
Get Our Latest Stock Analysis on Marvell Technology
Marvell Technology Company 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.
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