Fort Sheridan Advisors LLC Boosts Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Fort Sheridan Advisors LLC raised its holdings in Marvell Technology, Inc. (NASDAQ:MRVLGet Rating) by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,150 shares of the semiconductor company’s stock after purchasing an additional 400 shares during the period. Fort Sheridan Advisors LLC’s holdings in Marvell Technology were worth $1,732,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. MUFG Americas Holdings Corp boosted its position in shares of Marvell Technology by 90.2% in the first quarter. MUFG Americas Holdings Corp now owns 369 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 175 shares during the period. Pittenger & Anderson Inc. bought a new position in shares of Marvell Technology in the fourth quarter valued at approximately $27,000. Covestor Ltd bought a new stake in Marvell Technology during the fourth quarter valued at approximately $28,000. SOA Wealth Advisors LLC. bought a new stake in Marvell Technology during the first quarter valued at approximately $32,000. Finally, Atticus Wealth Management LLC lifted its position in Marvell Technology by 62.2% during the first quarter. Atticus Wealth Management LLC now owns 459 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Marvell Technology Trading Down 0.7 %

Marvell Technology stock opened at $56.94 on Friday. The firm has a 50 day moving average of $50.91 and a 200 day moving average of $60.20. The firm has a market capitalization of $48.39 billion, a price-to-earnings ratio of -93.34, a P/E/G ratio of 2.21 and a beta of 1.46. Marvell Technology, Inc. has a 12-month low of $41.07 and a 12-month high of $93.85. The company has a current ratio of 1.67, a quick ratio of 1.13 and a debt-to-equity ratio of 0.29.

Marvell Technology (NASDAQ:MRVLGet Rating) last released its earnings results on Thursday, May 26th. The semiconductor company reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.43 billion. Marvell Technology had a negative net margin of 9.82% and a positive return on equity of 6.92%. The firm’s quarterly revenue was up 73.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.15 EPS. As a group, research analysts predict that Marvell Technology, Inc. will post 1.69 earnings per share for the current year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 27th. Shareholders of record on Friday, July 8th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Thursday, July 7th. Marvell Technology’s dividend payout ratio (DPR) is currently -39.34%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MRVL. StockNews.com lowered shares of Marvell Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, July 26th. The Goldman Sachs Group dropped their target price on shares of Marvell Technology from $76.00 to $55.00 in a research report on Friday, July 15th. Cowen lowered their price objective on shares of Marvell Technology from $100.00 to $85.00 and set an “outperform” rating for the company in a report on Friday, May 27th. Craig Hallum lowered their price objective on shares of Marvell Technology to $90.00 in a report on Friday, May 27th. Finally, Susquehanna Bancshares lowered their price objective on shares of Marvell Technology from $105.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, May 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $83.41.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Loi Nguyen sold 872 shares of the stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $60.00, for a total transaction of $52,320.00. Following the completion of the sale, the executive vice president now directly owns 207,727 shares of the company’s stock, valued at approximately $12,463,620. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Dan Christman sold 14,000 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $57.28, for a total transaction of $801,920.00. Following the completion of the transaction, the executive vice president now directly owns 92,203 shares in the company, valued at approximately $5,281,387.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Loi Nguyen sold 872 shares of the stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $60.00, for a total value of $52,320.00. Following the transaction, the executive vice president now owns 207,727 shares of the company’s stock, valued at $12,463,620. The disclosure for this sale can be found here. Insiders sold a total of 61,194 shares of company stock valued at $3,505,827 in the last three months. 0.45% of the stock is currently owned by corporate insiders.

Marvell Technology Company Profile

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Marvell Technology, Inc, together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors.

See Also

Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)

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