M Holdings Securities Inc. purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVL – Get Rating) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,859 shares of the semiconductor company’s stock, valued at approximately $277,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Covestor Ltd purchased a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $28,000. MUFG Americas Holdings Corp grew its holdings in shares of Marvell Technology by 90.2% in the first quarter. MUFG Americas Holdings Corp now owns 369 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 175 shares in the last quarter. SOA Wealth Advisors LLC. acquired a new position in shares of Marvell Technology in the first quarter valued at approximately $32,000. Atticus Wealth Management LLC grew its holdings in shares of Marvell Technology by 62.2% in the first quarter. Atticus Wealth Management LLC now owns 459 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 176 shares in the last quarter. Finally, Mystic Asset Management Inc. acquired a new position in shares of Marvell Technology in the fourth quarter valued at approximately $41,000. 80.95% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. BMO Capital Markets dropped their price objective on shares of Marvell Technology from $98.00 to $82.00 in a report on Friday, May 27th. Benchmark started coverage on shares of Marvell Technology in a report on Wednesday, August 3rd. They set a “buy” rating and a $70.00 price target for the company. B. Riley cut shares of Marvell Technology from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $75.00 to $63.00 in a report on Wednesday, June 15th. Wells Fargo & Company lowered their price target on shares of Marvell Technology from $65.00 to $58.00 and set an “equal weight” rating for the company in a report on Friday, August 26th. Finally, Barclays lowered their price target on shares of Marvell Technology from $80.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, July 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.21.
Insider Buying and Selling
Marvell Technology Stock Performance
MRVL opened at $46.35 on Monday. Marvell Technology, Inc. has a 12-month low of $41.07 and a 12-month high of $93.85. The stock has a market cap of $39.52 billion, a price-to-earnings ratio of -178.27, a PEG ratio of 1.88 and a beta of 1.51. The business has a 50 day moving average of $51.02 and a 200-day moving average of $55.95. The company has a quick ratio of 0.93, a current ratio of 1.35 and a debt-to-equity ratio of 0.25.
Marvell Technology (NASDAQ:MRVL – Get Rating) last released its quarterly earnings data on Thursday, August 25th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. Marvell Technology had a positive return on equity of 7.94% and a negative net margin of 3.95%. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period last year, the firm posted $0.21 earnings per share. The business’s revenue was up 41.0% on a year-over-year basis. On average, equities research analysts expect that Marvell Technology, Inc. will post 1.61 earnings per share for the current year.
Marvell Technology Profile
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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