Geneos Wealth Management Inc. Sells 1,064 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Geneos Wealth Management Inc. reduced its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 23.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 3,517 shares of the semiconductor company’s stock after selling 1,064 shares during the period. Geneos Wealth Management Inc.’s holdings in Marvell Technology were worth $249,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. SJS Investment Consulting Inc. raised its stake in shares of Marvell Technology by 56.8% in the fourth quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 155 shares in the last quarter. Bruce G. Allen Investments LLC raised its stake in shares of 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 in the last quarter. Oliver Lagore Vanvalin Investment Group raised its stake in shares of Marvell Technology by 46.2% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 165 shares in the last quarter. Salomon & Ludwin LLC acquired a new position in shares of Marvell Technology in the first quarter valued at $31,000. Finally, Raleigh Capital Management Inc. raised its stake in shares of Marvell Technology by 532.3% in the third quarter. Raleigh Capital Management Inc. now owns 626 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 527 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MRVL has been the subject of a number of recent research reports. Needham & Company LLC restated a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research note on Friday, May 31st. Barclays upped their price target on Marvell Technology from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, May 31st. KeyCorp upped their price target on Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday. StockNews.com cut Marvell Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Finally, Jefferies Financial Group initiated coverage on Marvell Technology in a research report on Monday, May 13th. They issued a “buy” rating and a $85.00 price target on the stock. One research 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.24.

Marvell Technology Price Performance

Marvell Technology stock opened at $71.73 on Friday. Marvell Technology, Inc. has a 12-month low of $46.07 and a 12-month high of $85.76. The business’s 50-day simple moving average is $71.48 and its 200 day simple moving average is $69.20. The company has a quick ratio of 1.24, a current ratio of 1.80 and a debt-to-equity ratio of 0.28. The stock has a market cap of $62.09 billion, a price-to-earnings ratio of -63.88, a P/E/G ratio of 3.55 and a beta of 1.47.

Marvell Technology (NASDAQ:MRVL) last released its earnings results on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share for the quarter, meeting 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 firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the firm posted $0.17 earnings per share. The company’s quarterly revenue was down 12.2% on a year-over-year basis. As a group, research analysts anticipate that Marvell Technology, Inc. will post 0.75 earnings per share for the current year.

Marvell Technology Dividend Announcement

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

Insider Buying and Selling at Marvell Technology

In other news, insider Muhammad Raghib Hussain sold 50,000 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the sale, the insider now owns 838,571 shares of the company’s stock, valued at $62,892,825. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Muhammad Raghib Hussain sold 50,000 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the sale, the insider now owns 838,571 shares of the company’s stock, valued at $62,892,825. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Matthew J. Murphy sold 30,000 shares of the firm’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 sale, the chief executive officer now directly owns 716,545 shares in the company, valued at approximately $49,312,626.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 131,000 shares of company stock valued at $9,357,740. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Company 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.