GM Advisory Group LLC Buys 4,420 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

GM Advisory Group LLC boosted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 17.1% during the second quarter, Holdings Channel.com reports. The fund owned 30,257 shares of the semiconductor company’s stock after acquiring an additional 4,420 shares during the quarter. GM Advisory Group LLC’s holdings in Marvell Technology were worth $2,115,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its stake in shares of Marvell Technology by 27.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 42,090 shares of the semiconductor company’s stock valued at $2,539,000 after buying an additional 8,938 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Marvell Technology by 5.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 60,016 shares of the semiconductor company’s stock worth $3,620,000 after purchasing an additional 3,109 shares in the last quarter. Coldstream Capital Management Inc. bought a new stake in Marvell Technology during the 4th quarter valued at approximately $274,000. D.A. Davidson & CO. lifted its holdings in Marvell Technology by 13.6% in the 4th quarter. D.A. Davidson & CO. now owns 33,051 shares of the semiconductor company’s stock worth $1,993,000 after purchasing an additional 3,958 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in Marvell Technology by 63.5% in the 4th quarter. Assetmark Inc. now owns 20,443 shares of the semiconductor company’s stock worth $1,233,000 after purchasing an additional 7,937 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Trading Up 4.7 %

Shares of NASDAQ MRVL opened at $74.88 on Friday. Marvell Technology, Inc. has a fifty-two week low of $46.07 and a fifty-two week high of $85.76. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. The company has a market cap of $64.82 billion, a price-to-earnings ratio of -66.27, a PEG ratio of 3.29 and a beta of 1.46. The business’s 50 day moving average price is $68.19 and its 200-day moving average price is $69.81.

Marvell Technology (NASDAQ:MRVL) last released its 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 business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The business’s revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.18 earnings per share. On average, sell-side analysts expect that Marvell Technology, Inc. will post 0.77 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, October 31st. Shareholders of record on Friday, October 11th will be given a $0.06 dividend. The ex-dividend date is Friday, October 11th. This represents a $0.24 annualized dividend and a yield of 0.32%. Marvell Technology’s dividend payout ratio (DPR) is -21.24%.

Insiders Place Their Bets

In related news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $66.75, for a total value of $100,125.00. Following the completion of the sale, the chief financial officer now owns 113,253 shares in the company, valued at $7,559,637.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $66.75, for a total transaction of $100,125.00. Following the completion of the sale, the chief financial officer now directly owns 113,253 shares of the company’s stock, valued at approximately $7,559,637.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Muhammad Raghib Hussain sold 50,000 shares of the stock in a transaction 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 transaction, the insider now directly owns 838,571 shares in the company, valued at approximately $62,892,825. The disclosure for this sale can be found here. Insiders have sold 160,000 shares of company stock worth $11,878,785 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on MRVL. Roth Mkm reissued a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Evercore ISI boosted their price target on shares of Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a report on Wednesday. KeyCorp raised their price target on Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.62.

About Marvell Technology

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.