Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC grew its holdings in Marvell Technology, Inc. (NASDAQ:MRVLFree Report) by 148.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 19,892 shares of the semiconductor company’s stock after acquiring an additional 11,898 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Marvell Technology were worth $1,077,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MRVL. West Tower Group LLC purchased a new position in shares of Marvell Technology in the 2nd quarter valued at about $25,000. Buck Wealth Strategies LLC grew its stake in Marvell Technology by 1,328.1% during the 3rd quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock worth $25,000 after buying an additional 425 shares during the last quarter. SRS Capital Advisors Inc. grew its stake in Marvell Technology by 216.2% during the 2nd quarter. SRS Capital Advisors Inc. now owns 411 shares of the semiconductor company’s stock worth $25,000 after buying an additional 281 shares during the last quarter. Lindbrook Capital LLC grew its stake in Marvell Technology by 67.6% during the 2nd quarter. Lindbrook Capital LLC now owns 429 shares of the semiconductor company’s stock worth $26,000 after buying an additional 173 shares during the last quarter. Finally, Resurgent Financial Advisors LLC purchased a new position in Marvell Technology during the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 83.32% of the company’s stock.

Wall Street Analyst Weigh In

MRVL has been the topic of a number of research reports. Benchmark restated a “buy” rating and set a $75.00 price target on shares of Marvell Technology in a research note on Friday, December 1st. Raymond James raised their price target on Marvell Technology from $62.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Barclays raised their price target on Marvell Technology from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Susquehanna lowered their target price on Marvell Technology from $70.00 to $65.00 and set a “positive” rating on the stock in a research note on Friday, December 1st. Finally, UBS Group lowered their target price on Marvell Technology from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, December 1st. Two equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.96.

Check Out Our Latest Research Report on Marvell Technology

Marvell Technology Stock Performance

Shares of MRVL stock opened at $68.83 on Monday. The stock has a fifty day moving average price of $62.64 and a 200 day moving average price of $57.85. The stock has a market cap of $59.50 billion, a PE ratio of -105.89, a P/E/G ratio of 6.99 and a beta of 1.52. Marvell Technology, Inc. has a 1 year low of $36.64 and a 1 year high of $73.53. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.58.

Marvell Technology (NASDAQ:MRVLGet Free Report) last issued its quarterly earnings data on Thursday, November 30th. The semiconductor company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.01. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Marvell Technology had a positive return on equity of 5.20% and a negative net margin of 10.11%. Marvell Technology’s revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. Sell-side analysts forecast that Marvell Technology, Inc. will post 0.85 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Friday, January 5th were issued a dividend of $0.06 per share. The ex-dividend date was Thursday, January 4th. This represents a $0.24 annualized dividend and a yield of 0.35%. Marvell Technology’s dividend payout ratio is presently -36.92%.

Insider Buying and Selling

In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $54.45, for a total transaction of $1,633,500.00. Following the completion of the transaction, the chief executive officer now owns 839,287 shares of the company’s stock, valued at $45,699,177.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $57.33, for a total transaction of $286,650.00. Following the completion of the transaction, the executive vice president now owns 129,492 shares of the company’s stock, valued at $7,423,776.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew J. Murphy sold 30,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $54.45, for a total value of $1,633,500.00. Following the transaction, the chief executive officer now directly owns 839,287 shares of the company’s stock, valued at approximately $45,699,177.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 201,000 shares of company stock valued at $12,056,240. 0.45% of the stock is owned by insiders.

About Marvell Technology

(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, scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.

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

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