Diversify Advisory Services LLC Takes Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Diversify Advisory Services LLC purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 7,335 shares of the semiconductor company’s stock, valued at approximately $537,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC raised its holdings in Marvell Technology by 56.4% during the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 141 shares during the last quarter. Trueblood Wealth Management LLC raised its holdings in Marvell Technology by 3.2% during the first quarter. Trueblood Wealth Management LLC now owns 4,944 shares of the semiconductor company’s stock worth $350,000 after purchasing an additional 152 shares during the last quarter. SJS Investment Consulting Inc. raised its holdings in Marvell Technology by 56.8% during the fourth quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 155 shares during the last quarter. Blue Trust Inc. raised its holdings in Marvell Technology by 23.4% during the fourth quarter. Blue Trust Inc. now owns 817 shares of the semiconductor company’s stock worth $45,000 after purchasing an additional 155 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in Marvell Technology by 34.7% during the fourth quarter. Versant Capital Management Inc now owns 625 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 161 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on MRVL. TD Cowen raised their price target on Marvell Technology from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, March 8th. Citigroup reissued a “buy” rating and set a $91.00 price target on shares of Marvell Technology in a research report on Wednesday, March 27th. Oppenheimer reissued an “outperform” rating and set a $90.00 price target (up previously from $80.00) on shares of Marvell Technology in a research report on Friday, May 31st. Jefferies Financial Group began coverage on Marvell Technology in a research report on Monday, May 13th. They set a “buy” rating and a $85.00 price target for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a research report on Friday, May 31st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $85.00.

Insider Transactions at Marvell Technology

In other news, CEO Matthew J. Murphy sold 30,000 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $68.82, for a total value of $2,064,600.00. Following the completion of the sale, the chief executive officer now owns 716,545 shares of the company’s stock, valued at $49,312,626.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $64.49, for a total value of $64,490.00. Following the completion of the transaction, the chief financial officer now owns 110,218 shares of the company’s stock, valued at $7,107,958.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $68.82, for a total value of $2,064,600.00. Following the completion of the transaction, the chief executive officer now directly owns 716,545 shares of the company’s stock, valued at approximately $49,312,626.90. The disclosure for this sale can be found here. Insiders sold 81,000 shares of company stock valued at $5,607,740 over the last quarter. Company insiders own 0.33% of the company’s stock.

Marvell Technology Trading Down 0.2 %

Shares of NASDAQ MRVL traded down $0.12 on Friday, hitting $72.08. The company had a trading volume of 5,403,245 shares, compared to its average volume of 9,528,922. Marvell Technology, Inc. has a 12-month low of $46.07 and a 12-month high of $85.76. The business has a 50 day moving average of $70.87 and a two-hundred day moving average of $68.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.80 and a quick ratio of 1.24.

Marvell Technology (NASDAQ:MRVL) last issued its earnings results on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. Marvell Technology had a positive return on equity of 4.51% and a negative net margin of 18.33%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the business earned $0.17 earnings per share. The company’s revenue was down 12.2% compared to the same quarter last year. As a group, research analysts predict that Marvell Technology, Inc. will post 0.75 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 12th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.33%. The ex-dividend date is Friday, July 12th. Marvell Technology’s payout ratio is -21.24%.

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.