Advisor OS LLC Acquires 36,577 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Advisor OS LLC grew its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 193.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,491 shares of the semiconductor company’s stock after purchasing an additional 36,577 shares during the quarter. Advisor OS LLC’s holdings in Marvell Technology were worth $3,879,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Benjamin F. Edwards & Company Inc. lifted its position in shares of Marvell Technology by 157.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 772 shares of the semiconductor company’s stock worth $46,000 after buying an additional 472 shares during the last quarter. Wealthcare Advisory Partners LLC grew its holdings in Marvell Technology by 13.2% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 6,572 shares of the semiconductor company’s stock valued at $396,000 after purchasing an additional 768 shares during the last quarter. Private Advisor Group LLC grew its holdings in Marvell Technology by 6.8% during the fourth quarter. Private Advisor Group LLC now owns 50,678 shares of the semiconductor company’s stock valued at $3,056,000 after purchasing an additional 3,235 shares during the last quarter. Lincoln National Corp raised its position in shares of Marvell Technology by 15.6% in the fourth quarter. Lincoln National Corp now owns 6,172 shares of the semiconductor company’s stock valued at $372,000 after purchasing an additional 833 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Marvell Technology by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,111,703 shares of the semiconductor company’s stock worth $187,667,000 after buying an additional 117,160 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. KeyCorp boosted their target price on shares of Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Jefferies Financial Group assumed coverage on Marvell Technology in a report on Monday, May 13th. They issued a “buy” rating and a $85.00 target price on the stock. Benchmark upped their price target on Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Needham & Company LLC reiterated a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $90.00 price target (up previously from $80.00) on shares of Marvell Technology in a report on Friday, May 31st. Two research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $91.62.

Marvell Technology Stock Performance

Shares of Marvell Technology stock opened at $66.20 on Friday. Marvell Technology, Inc. has a 12 month low of $46.07 and a 12 month high of $85.76. The company has a current ratio of 1.80, a quick ratio of 1.24 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $57.30 billion, a PE ratio of -58.58, a PEG ratio of 3.61 and a beta of 1.47. The stock’s fifty day simple moving average is $68.15 and its 200 day simple moving average is $69.58.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Marvell Technology had a positive return on equity of 4.26% and a negative net margin of 18.30%. Marvell Technology’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.18 EPS. On average, research analysts predict that Marvell Technology, Inc. will post 0.75 EPS for the current year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, July 12th. This represents a $0.24 annualized dividend and a yield of 0.36%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

Insider Activity

In other news, insider Muhammad Raghib Hussain sold 50,000 shares of Marvell Technology stock in a transaction on 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 completion of 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 Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $73.42, for a total value of $367,100.00. Following the completion of the transaction, the executive vice president now directly owns 115,318 shares in the company, valued at approximately $8,466,647.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Muhammad Raghib Hussain sold 50,000 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $62,892,825. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,500 shares of company stock valued at $4,872,620. 0.33% of the stock is owned by 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.