Lmcg Investments LLC Purchases 13,598 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Lmcg Investments LLC boosted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 13.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 115,980 shares of the semiconductor company’s stock after purchasing an additional 13,598 shares during the quarter. Lmcg Investments LLC’s holdings in Marvell Technology were worth $8,107,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. 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 purchasing an additional 141 shares in the last quarter. Salomon & Ludwin LLC bought a new position in Marvell Technology in the first quarter worth $31,000. Optimum Investment Advisors bought a new position in Marvell Technology in the first quarter worth $35,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of Marvell Technology during the first quarter valued at $35,000. Finally, Bogart Wealth LLC increased its holdings in shares of Marvell Technology by 1,480.0% during the first quarter. Bogart Wealth LLC now owns 632 shares of the semiconductor company’s stock valued at $45,000 after acquiring an additional 592 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MRVL. TD Cowen upgraded Marvell Technology to a “strong-buy” rating in a report on Monday. Needham & Company LLC restated a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a report on Friday, August 30th. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price target on shares of Marvell Technology in a report on Friday, August 30th. The Goldman Sachs Group raised their price target on Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, StockNews.com downgraded Marvell Technology from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.62.

Insider Activity at Marvell Technology

In other Marvell Technology news, Director Daniel Durn purchased 1,425 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were bought at an average cost of $70.21 per share, with a total value of $100,049.25. Following the acquisition, the director now owns 1,923 shares in the company, valued at $135,013.83. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $70.07, for a total value of $175,175.00. Following the transaction, the executive vice president now directly owns 20,450 shares of the company’s stock, valued at approximately $1,432,931.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel Durn purchased 1,425 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was acquired at an average cost of $70.21 per share, for a total transaction of $100,049.25. Following the completion of the acquisition, the director now owns 1,923 shares in the company, valued at approximately $135,013.83. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 152,500 shares of company stock valued at $11,328,240. 0.33% of the stock is owned by company insiders.

Marvell Technology Price Performance

NASDAQ MRVL opened at $73.40 on Tuesday. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. Marvell Technology, Inc. has a 12 month low of $46.07 and a 12 month high of $85.76. The stock has a market cap of $63.54 billion, a price-to-earnings ratio of -64.96, a PEG ratio of 3.29 and a beta of 1.46. The company’s 50 day moving average is $68.26 and its two-hundred day moving average is $69.79.

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

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.33%. The ex-dividend date is Friday, October 11th. Marvell Technology’s dividend payout ratio is currently -21.24%.

Marvell Technology 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.