Ashton Thomas Private Wealth LLC Makes New $76,000 Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Ashton Thomas Private Wealth LLC purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,092 shares of the semiconductor company’s stock, valued at approximately $76,000.

Several other hedge funds also recently modified their holdings of the company. Tlwm lifted its holdings in shares of Marvell Technology by 1.6% during the 2nd quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock worth $601,000 after acquiring an additional 136 shares during the period. Bruce G. Allen Investments LLC lifted its holdings in shares of Marvell Technology by 56.4% during the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 141 shares during the period. Trueblood Wealth Management LLC lifted its holdings in shares of Marvell Technology by 3.2% during the 1st quarter. Trueblood Wealth Management LLC now owns 4,944 shares of the semiconductor company’s stock worth $350,000 after acquiring an additional 152 shares during the period. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Marvell Technology by 0.5% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 30,764 shares of the semiconductor company’s stock worth $1,855,000 after acquiring an additional 162 shares during the period. Finally, Sheaff Brock Investment Advisors LLC raised its holdings in Marvell Technology by 0.4% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 44,342 shares of the semiconductor company’s stock valued at $3,143,000 after buying an additional 168 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Marvell Technology

In related news, insider Muhammad Raghib Hussain sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $75.00, for a total value of $3,750,000.00. Following the completion of the sale, the insider now owns 838,571 shares of the company’s stock, valued at approximately $62,892,825. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Marvell Technology news, insider Muhammad Raghib Hussain sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the completion of the sale, the insider now owns 838,571 shares of the company’s stock, valued at $62,892,825. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $73.88, for a total value of $110,820.00. Following the sale, the chief financial officer now directly owns 109,318 shares of the company’s stock, valued at approximately $8,076,413.84. The disclosure for this sale can be found here. Insiders have sold a total of 65,500 shares of company stock valued at $4,872,620 in the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $74.48 on Friday. Marvell Technology, Inc. has a fifty-two week low of $46.07 and a fifty-two week high of $85.76. The firm’s 50-day simple moving average is $68.26 and its 200 day simple moving average is $69.77. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The stock has a market cap of $66.00 billion, a P/E ratio of -65.91, a P/E/G ratio of 3.29 and a beta of 1.46.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. Marvell Technology’s revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the business posted $0.18 EPS. Equities analysts expect that Marvell Technology, Inc. will post 0.77 EPS for the current year.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, July 12th. This represents a $0.24 annualized dividend and a yield of 0.32%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

Analysts Set New Price Targets

MRVL has been the topic of several research reports. StockNews.com lowered shares of Marvell Technology from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. B. Riley raised their price target on shares of Marvell Technology from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 31st. Bank of America raised their price target on shares of Marvell Technology from $85.00 to $90.00 and gave the company a “buy” rating in a report on Friday, August 30th. Roth Mkm reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.62.

Marvell Technology Company 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.