Strategic Investment Solutions Inc. IL Invests $32,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Strategic Investment Solutions Inc. IL purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 484 shares of the semiconductor company’s stock, valued at approximately $32,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MRVL. Bruce G. Allen Investments LLC raised its position in Marvell Technology by 56.4% in the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 141 shares during the last quarter. Salomon & Ludwin LLC bought a new position in Marvell Technology in the 1st quarter valued at approximately $31,000. Quarry LP bought a new position in Marvell Technology in the 2nd quarter valued at approximately $32,000. Optimum Investment Advisors acquired a new stake in Marvell Technology during the 1st quarter worth approximately $35,000. Finally, Mark Sheptoff Financial Planning LLC bought a new stake in Marvell Technology during the 1st quarter worth approximately $35,000. 83.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MRVL has been the topic of a number of recent research reports. KeyCorp lifted their price target on shares of Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Morgan Stanley lifted their target price on Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. Barclays increased their price target on Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Evercore ISI upped their target price on Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Finally, Roth Mkm restated a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.62.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $72.24 on Friday. The stock has a market cap of $62.53 billion, a price-to-earnings ratio of -63.93, a PEG ratio of 3.12 and a beta of 1.46. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. 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 $68.59 and its 200 day simple moving average is $69.62.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the company posted $0.18 earnings per share. Marvell Technology’s revenue was down 5.1% compared to the same quarter last year. As a group, research analysts anticipate that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The firm 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 of this dividend is Friday, October 11th. This represents a $0.24 annualized dividend and a yield of 0.33%. Marvell Technology’s dividend payout ratio is currently -21.24%.

Insider Buying and Selling at Marvell Technology

In other news, CEO Matthew J. Murphy sold 6,000 shares of Marvell Technology stock in a transaction on Monday, September 16th. The stock was sold at an average price of $73.29, for a total transaction of $439,740.00. Following the sale, the chief executive officer now directly owns 208,915 shares in the company, valued at approximately $15,311,380.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Marvell Technology news, CEO Matthew J. Murphy sold 6,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $73.29, for a total transaction of $439,740.00. Following the completion of the transaction, the chief executive officer now directly owns 208,915 shares of the company’s stock, valued at $15,311,380.35. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $70.83, for a total value of $177,075.00. Following the completion of the sale, the executive vice president now directly owns 22,494 shares of the company’s stock, valued at $1,593,250.02. The disclosure for this sale can be found here. Insiders sold 160,000 shares of company stock worth $11,880,685 in the last quarter. 0.33% of the stock is currently owned by company insiders.

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.