SWS Partners Purchases 17,285 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

SWS Partners boosted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 48.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,164 shares of the semiconductor company’s stock after acquiring an additional 17,285 shares during the period. Marvell Technology accounts for about 1.1% of SWS Partners’ investment portfolio, making the stock its 28th largest holding. SWS Partners’ holdings in Marvell Technology were worth $3,716,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Bruce G. Allen Investments LLC raised its holdings 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 worth $28,000 after buying an additional 141 shares during the last quarter. Oliver Lagore Vanvalin Investment Group grew its position in Marvell Technology by 46.2% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 165 shares during the period. Salomon & Ludwin LLC purchased a new stake in shares of Marvell Technology in the 1st quarter worth $31,000. Optimum Investment Advisors purchased a new stake in Marvell Technology in the first quarter worth about $35,000. Finally, Mark Sheptoff Financial Planning LLC purchased a new stake in Marvell Technology in the 1st quarter worth approximately $35,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $73.88, for a total value of $110,820.00. Following the transaction, the chief financial officer now owns 109,318 shares of the company’s stock, valued at $8,076,413.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $73.88, for a total transaction of $369,400.00. Following the completion of the transaction, the executive vice president now owns 110,318 shares of the company’s stock, valued at approximately $8,150,293.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $73.88, for a total value of $110,820.00. Following the completion of the sale, the chief financial officer now directly owns 109,318 shares in the company, valued at approximately $8,076,413.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 64,000 shares of company stock valued at $4,772,495. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on MRVL. Jefferies Financial Group assumed coverage on shares of Marvell Technology in a report on Monday, May 13th. They issued a “buy” rating and a $85.00 price target on the stock. B. Riley lifted their price target on shares of Marvell Technology from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Barclays lifted their price objective on Marvell Technology from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, May 31st. Stifel Nicolaus upped their target price on Marvell Technology from $86.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Finally, Evercore ISI increased their price target on shares of Marvell Technology from $88.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $85.50.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL traded up $5.54 during midday trading on Thursday, reaching $69.33. 17,089,462 shares of the company traded hands, compared to its average volume of 12,581,419. The company has a market cap of $60.01 billion, a price-to-earnings ratio of -61.35, a PEG ratio of 2.99 and a beta of 1.47. The stock has a 50-day moving average price of $68.24 and a 200 day moving average price of $69.33. Marvell Technology, Inc. has a 52 week low of $46.07 and a 52 week high of $85.76. 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 announced its quarterly earnings data 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 business had revenue of $1.16 billion during 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 revenue was down 12.2% on a year-over-year basis. Sell-side analysts anticipate that Marvell Technology, Inc. will post 0.75 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 12th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, July 12th. This represents a $0.24 annualized dividend and a dividend yield of 0.35%. Marvell Technology’s dividend payout ratio (DPR) is presently -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.