Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Van Hulzen Asset Management LLC

Van Hulzen Asset Management LLC increased its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 16.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,176 shares of the semiconductor company’s stock after purchasing an additional 1,006 shares during the quarter. Van Hulzen Asset Management LLC’s holdings in Marvell Technology were worth $502,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. raised its holdings in Marvell Technology by 157.3% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 772 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 472 shares in the last quarter. QRG Capital Management Inc. boosted its stake in shares of Marvell Technology by 43.4% in the 4th quarter. QRG Capital Management Inc. now owns 25,469 shares of the semiconductor company’s stock valued at $1,536,000 after purchasing an additional 7,706 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Marvell Technology by 4.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 64,397 shares of the semiconductor company’s stock worth $3,884,000 after purchasing an additional 2,648 shares during the last quarter. Avantax Advisory Services Inc. increased its position in shares of Marvell Technology by 29.0% during the 4th quarter. Avantax Advisory Services Inc. now owns 31,550 shares of the semiconductor company’s stock worth $1,903,000 after purchasing an additional 7,101 shares in the last quarter. Finally, Westpac Banking Corp lifted its holdings in Marvell Technology by 3.0% during the 4th quarter. Westpac Banking Corp now owns 8,877 shares of the semiconductor company’s stock valued at $535,000 after purchasing an additional 260 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analysts Set New Price Targets

MRVL has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a report on Friday, August 30th. KeyCorp raised their target price on Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. B. Riley upped their price target on shares of Marvell Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Evercore ISI raised their price objective on shares of Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Finally, Piper Sandler reiterated an “overweight” rating and set a $100.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $91.62.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $71.60 on Wednesday. The company’s fifty day moving average price is $68.11 and its 200-day moving average price is $69.66. Marvell Technology, Inc. has a one year low of $46.07 and a one year high of $85.76. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. The firm has a market capitalization of $63.45 billion, a price-to-earnings ratio of -63.36, a PEG ratio of 2.91 and a beta of 1.46.

Marvell Technology (NASDAQ:MRVL) last issued its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the business earned $0.18 earnings per share. The business’s revenue was down 5.1% on a year-over-year basis. On average, equities research analysts anticipate that Marvell Technology, Inc. will post 0.77 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The firm 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. This represents a $0.24 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Friday, July 12th. Marvell Technology’s dividend payout ratio is presently -21.24%.

Insider Buying and Selling at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $73.88, for a total transaction of $110,820.00. Following the completion of the sale, the chief financial officer now owns 109,318 shares in the company, valued at $8,076,413.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $73.88, for a total transaction 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 this link. Also, EVP Chris Koopmans sold 5,000 shares of the firm’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 in the company, valued at $8,466,647.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,500 shares of company stock valued at $4,872,620. Company insiders own 0.33% of the company’s stock.

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.