14,573 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Purchased by Choreo LLC

Choreo LLC acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 14,573 shares of the semiconductor company’s stock, valued at approximately $1,034,000.

Several other large investors also recently modified their holdings of MRVL. Bruce G. Allen Investments LLC boosted its stake in Marvell Technology by 56.4% in the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 141 shares in the last quarter. Salomon & Ludwin LLC bought a new position in Marvell Technology during the 1st quarter valued at about $31,000. Optimum Investment Advisors acquired a new stake in shares of Marvell Technology during the first quarter worth approximately $35,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of Marvell Technology in the first quarter valued at approximately $35,000. Finally, Bogart Wealth LLC boosted its holdings in shares of Marvell Technology by 1,480.0% in the 1st quarter. Bogart Wealth LLC now owns 632 shares of the semiconductor company’s stock worth $45,000 after acquiring an additional 592 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Marvell Technology

In other news, EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $73.42, for a total value of $367,100.00. Following the sale, the executive vice president now directly owns 115,318 shares of the company’s stock, valued at approximately $8,466,647.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $73.42, for a total transaction of $367,100.00. Following the transaction, the executive vice president now directly owns 115,318 shares of the company’s stock, valued at approximately $8,466,647.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Muhammad Raghib Hussain sold 50,000 shares of the stock in a transaction on Monday, July 8th. The shares were 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 in the company, valued at approximately $62,892,825. The disclosure for this sale can be found here. Insiders sold a total of 65,500 shares of company stock worth $4,872,620 over the last quarter. 0.33% of the stock is currently owned by insiders.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $74.30 on Friday. The company has a market capitalization of $64.31 billion, a P/E ratio of -65.75, a price-to-earnings-growth ratio of 2.91 and a beta of 1.46. Marvell Technology, Inc. has a 52 week low of $46.07 and a 52 week high of $85.76. The company’s 50 day moving average price is $68.21 and its two-hundred day moving average price is $69.73. 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 (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 EPS. On average, analysts expect that Marvell Technology, Inc. will post 0.77 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date was Friday, July 12th. Marvell Technology’s dividend payout ratio is currently -21.24%.

Wall Street Analysts Forecast Growth

MRVL has been the subject of a number of recent analyst reports. Benchmark raised their price target on Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a report on Friday, August 30th. Barclays lifted their price target on Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Oppenheimer reissued an “outperform” rating and set a $90.00 price objective (up previously from $80.00) on shares of Marvell Technology in a report on Friday, May 31st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $95.00 target price (up from $90.00) on shares of Marvell Technology in a research note on Friday, August 30th. Finally, Roth Mkm reiterated a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. One equities research 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. According to MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus price target of $91.62.

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.