Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC lifted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 5.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,313 shares of the semiconductor company’s stock after purchasing an additional 206 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Marvell Technology were worth $266,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Centricity Wealth Management LLC acquired a new stake in shares of Marvell Technology during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Marvell Technology during the 4th quarter worth approximately $27,000. Lee Danner & Bass Inc. acquired a new stake in Marvell Technology in the 4th quarter valued at $35,000. Capital Analysts LLC grew its stake in Marvell Technology by 236.3% in the 4th quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 241 shares during the period. Finally, Chelsea Counsel Co. acquired a new stake in Marvell Technology in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Stock Up 7.1%

NASDAQ MRVL opened at $74.95 on Friday. Marvell Technology, Inc. has a 52 week low of $47.09 and a 52 week high of $127.48. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 0.22. The business’s fifty day simple moving average is $61.61 and its 200-day simple moving average is $84.65. The firm has a market cap of $64.74 billion, a PE ratio of -131.49, a P/E/G ratio of 0.81 and a beta of 1.76.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. The company’s quarterly revenue was up 63.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 EPS. As a group, equities analysts anticipate that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a $0.24 annualized dividend and a yield of 0.32%. Marvell Technology’s dividend payout ratio (DPR) is currently -42.11%.

Insider Activity at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $60.00, for a total value of $90,000.00. Following the completion of the sale, the chief financial officer now owns 124,348 shares in the company, valued at approximately $7,460,880. The trade was a 1.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Casper sold 626 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $61.10, for a total value of $38,248.60. Following the completion of the sale, the executive vice president now owns 626 shares of the company’s stock, valued at approximately $38,248.60. This represents a 50.00% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,394 shares of company stock worth $1,656,076. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

MRVL has been the topic of a number of research analyst reports. Morgan Stanley lifted their price target on shares of Marvell Technology from $70.00 to $73.00 and gave the company an “equal weight” rating in a research note on Friday, May 30th. Melius cut shares of Marvell Technology from a “buy” rating to a “hold” rating and set a $66.00 price target on the stock. in a research note on Thursday, May 22nd. Needham & Company LLC reissued a “buy” rating and issued a $85.00 price target on shares of Marvell Technology in a research note on Wednesday. UBS Group reissued a “buy” rating on shares of Marvell Technology in a research note on Monday, June 2nd. Finally, Benchmark reissued a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $96.33.

Marvell Technology Profile

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.