CHICAGO TRUST Co NA Has $300,000 Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

CHICAGO TRUST Co NA raised its holdings in Marvell Technology, Inc. (NASDAQ:MRVLGet Rating) by 75.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,190 shares of the semiconductor company’s stock after purchasing an additional 1,800 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Marvell Technology were worth $300,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MRVL. Pittenger & Anderson Inc. acquired a new stake in shares of Marvell Technology during the 4th quarter valued at $27,000. Covestor Ltd acquired a new stake in shares of Marvell Technology during the 4th quarter valued at $28,000. Blue Bell Private Wealth Management LLC acquired a new stake in shares of Marvell Technology during the 4th quarter valued at $32,000. SOA Wealth Advisors LLC. acquired a new stake in shares of Marvell Technology during the 1st quarter valued at $32,000. Finally, HM Payson & Co. boosted its holdings in shares of Marvell Technology by 52.5% during the 3rd quarter. HM Payson & Co. now owns 453 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 156 shares in the last quarter. 83.11% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Loi Nguyen sold 1,512 shares of the business’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $60.00, for a total value of $90,720.00. Following the transaction, the executive vice president now owns 207,727 shares in the company, valued at approximately $12,463,620. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mitchell Gaynor sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $48.80, for a total value of $244,000.00. Following the completion of the transaction, the executive vice president now owns 120,563 shares in the company, valued at approximately $5,883,474.40. The disclosure for this sale can be found here. Insiders have sold a total of 201,216 shares of company stock valued at $12,895,253 in the last quarter. Company insiders own 0.45% of the company’s stock.

Several equities research analysts recently weighed in on MRVL shares. Susquehanna Bancshares cut their price objective on Marvell Technology from $105.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, May 25th. Deutsche Bank Aktiengesellschaft lowered their target price on Marvell Technology from $80.00 to $75.00 in a research report on Friday, May 27th. Morgan Stanley lowered their target price on Marvell Technology from $68.00 to $62.00 and set an “equal weight” rating for the company in a research report on Friday, June 10th. Piper Sandler lowered their target price on Marvell Technology from $100.00 to $80.00 in a research report on Friday, March 4th. Finally, UBS Group lowered their target price on Marvell Technology from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, May 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and an average target price of $87.77.

MRVL stock opened at $46.39 on Thursday. The company has a market capitalization of $39.43 billion, a P/E ratio of -76.05, a price-to-earnings-growth ratio of 1.51 and a beta of 1.27. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.13 and a current ratio of 1.67. Marvell Technology, Inc. has a 52-week low of $43.68 and a 52-week high of $93.85. The business has a 50-day simple moving average of $56.30 and a two-hundred day simple moving average of $68.38.

Marvell Technology (NASDAQ:MRVLGet Rating) last released its quarterly earnings results on Thursday, May 26th. The semiconductor company reported $0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.37. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. Marvell Technology had a positive return on equity of 6.92% and a negative net margin of 9.82%. The company’s quarterly revenue was up 73.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 EPS. As a group, sell-side analysts forecast that Marvell Technology, Inc. will post 1.7 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Friday, July 8th will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, July 7th. This represents a $0.24 dividend on an annualized basis and a yield of 0.52%. Marvell Technology’s dividend payout ratio (DPR) is currently -39.34%.

About Marvell Technology (Get Rating)

Marvell Technology, Inc, together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors.

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

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