M Holdings Securities Inc. Makes New $277,000 Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

M Holdings Securities Inc. purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVLGet 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

In related news, EVP Mitchell Gaynor sold 5,000 shares of Marvell Technology stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $47.67, for a total transaction of $238,350.00. Following the completion of the sale, the executive vice president now directly owns 115,563 shares of the company’s stock, valued at approximately $5,508,888.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Dan Christman sold 14,000 shares of Marvell Technology stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $57.28, for a total value of $801,920.00. Following the transaction, the executive vice president now owns 92,203 shares in the company, valued at approximately $5,281,387.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mitchell Gaynor sold 5,000 shares of Marvell Technology stock in a transaction on Friday, July 15th. The shares were sold at an average price of $47.67, for a total value of $238,350.00. Following the completion of the transaction, the executive vice president now owns 115,563 shares in the company, valued at approximately $5,508,888.21. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,000 shares of company stock valued at $1,279,020. Insiders own 0.45% of the company’s stock.

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:MRVLGet 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

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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.

Further Reading

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

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