Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by 180 Wealth Advisors LLC

Posted by Defense World Staff on Jun 21st, 2023

180 Wealth Advisors LLC grew its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL – Get Rating) by 4.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,181 shares of the semiconductor company’s stock after acquiring an additional 367 shares during the period. 180 Wealth Advisors LLC’s holdings in Marvell Technology were worth $398,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Edge Capital Group LLC grew its stake in Marvell Technology by 6.0% in the fourth quarter. Edge Capital Group LLC now owns 4,273 shares of the semiconductor company’s stock worth $158,000 after purchasing an additional 240 shares in the last quarter. Gagnon Securities LLC grew its stake in Marvell Technology by 1.6% in the fourth quarter. Gagnon Securities LLC now owns 15,369 shares of the semiconductor company’s stock worth $569,000 after purchasing an additional 247 shares in the last quarter. Lido Advisors LLC grew its stake in Marvell Technology by 1.6% in the third quarter. Lido Advisors LLC now owns 15,599 shares of the semiconductor company’s stock worth $669,000 after purchasing an additional 251 shares in the last quarter. Allworth Financial LP grew its stake in Marvell Technology by 10.3% in the fourth quarter. Allworth Financial LP now owns 2,787 shares of the semiconductor company’s stock worth $103,000 after purchasing an additional 260 shares in the last quarter. Finally, Journey Advisory Group LLC grew its stake in Marvell Technology by 2.4% in the fourth quarter. Journey Advisory Group LLC now owns 12,929 shares of the semiconductor company’s stock worth $479,000 after purchasing an additional 300 shares in the last quarter. 86.04% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Trading Down 0.5 %

NASDAQ MRVL opened at $60.83 on Wednesday. Marvell Technology, Inc. has a twelve month low of $33.75 and a twelve month high of $67.99. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.71 and a current ratio of 1.05. The stock has a market cap of $52.31 billion, a price-to-earnings ratio of -320.16, a PEG ratio of 11.97 and a beta of 1.42. The firm’s 50 day moving average price is $48.49 and its two-hundred day moving average price is $43.84.

Marvell Technology (NASDAQ:MRVL – Get Rating) last posted its quarterly earnings data on Thursday, May 25th. The semiconductor company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.02. Marvell Technology had a negative net margin of 2.88% and a positive return on equity of 7.38%. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the company posted $0.37 EPS. The company’s quarterly revenue was down 8.7% compared to the same quarter last year. Equities analysts anticipate that Marvell Technology, Inc. will post 0.86 EPS for the current year.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.39%. Marvell Technology’s dividend payout ratio is currently -126.32%.

Insider Activity

In other news, insider Sandeep Bharathi sold 1,724 shares of the business’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $61.94, for a total transaction of $106,784.56. Following the transaction, the insider now directly owns 86,426 shares in the company, valued at approximately $5,353,226.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Sandeep Bharathi sold 1,724 shares of the business’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $61.94, for a total transaction of $106,784.56. Following the transaction, the insider now directly owns 86,426 shares in the company, valued at approximately $5,353,226.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Dean E. Jr. Jarnac sold 6,000 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $45.00, for a total transaction of $270,000.00. Following the transaction, the executive vice president now owns 12,879 shares in the company, valued at $579,555. The disclosure for this sale can be found here. Insiders have sold a total of 118,087 shares of company stock worth $6,980,905 in the last ninety days. Corporate insiders own 0.45% of the company’s stock.

Analysts Set New Price Targets

MRVL has been the subject of a number of research reports. Rosenblatt Securities decreased their price target on Marvell Technology from $125.00 to $100.00 in a research note on Friday, March 3rd. Wells Fargo & Company lifted their target price on Marvell Technology from $54.00 to $65.00 in a research note on Friday, May 26th. Credit Suisse Group decreased their target price on Marvell Technology from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday, March 3rd. Piper Sandler decreased their target price on Marvell Technology from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, March 3rd. Finally, UBS Group decreased their target price on Marvell Technology from $75.00 to $60.00 in a research note on Friday, March 3rd. Three analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus target price of $63.33.

About Marvell Technology

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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.