Register Financial Advisors LLC Has $553,000 Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Register Financial Advisors LLC lifted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 8.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,804 shares of the semiconductor company’s stock after purchasing an additional 601 shares during the period. Register Financial Advisors LLC’s holdings in Marvell Technology were worth $553,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Fifth Third Wealth Advisors LLC acquired a new position in Marvell Technology in the first quarter valued at $230,000. Bouvel Investment Partners LLC lifted its holdings in Marvell Technology by 2.0% in the first quarter. Bouvel Investment Partners LLC now owns 58,534 shares of the semiconductor company’s stock valued at $4,149,000 after buying an additional 1,140 shares during the period. Tlwm acquired a new position in Marvell Technology in the first quarter valued at $600,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Marvell Technology by 3.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 47,290 shares of the semiconductor company’s stock valued at $3,352,000 after buying an additional 1,501 shares during the period. Finally, Wealthcare Advisory Partners LLC lifted its holdings in Marvell Technology by 5.4% in the first quarter. Wealthcare Advisory Partners LLC now owns 6,928 shares of the semiconductor company’s stock valued at $491,000 after buying an additional 356 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MRVL shares. TD Cowen boosted their target price on shares of Marvell Technology from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, March 8th. StockNews.com downgraded shares of Marvell Technology from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. 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. Jefferies Financial Group initiated coverage on shares of Marvell Technology in a research note on Monday, May 13th. They issued a “buy” rating and a $85.00 price target for the company. Finally, Stifel Nicolaus lifted their price target on shares of Marvell Technology from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, May 31st. 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

Marvell Technology Stock Up 1.7 %

Marvell Technology stock traded up $1.17 during midday trading on Friday, hitting $69.90. 22,391,070 shares of the stock were exchanged, compared to its average volume of 13,078,488. Marvell Technology, Inc. has a 52-week low of $46.07 and a 52-week high of $85.76. The stock has a market capitalization of $60.51 billion, a price-to-earnings ratio of -62.64, a price-to-earnings-growth ratio of 3.24 and a beta of 1.46. The business’s 50-day moving average price is $70.10 and its 200-day moving average price is $68.21. The company has a quick ratio of 1.24, a current ratio of 1.80 and a debt-to-equity ratio of 0.28.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. Marvell Technology had a negative net margin of 18.33% and a positive return on equity of 4.51%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the company earned $0.17 earnings per share. The firm’s revenue for the quarter was down 12.2% compared to the same quarter last year. On average, research analysts expect that Marvell Technology, Inc. will post 0.75 EPS for the current fiscal year.

Marvell Technology Announces Dividend

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 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Friday, July 12th. Marvell Technology’s payout ratio is -21.24%.

Marvell Technology announced that its Board of Directors has approved a share buyback plan on Thursday, March 7th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 4.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $73.42, for a total value 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $64.75, for a total transaction of $161,875.00. Following the sale, the executive vice president now directly owns 21,266 shares in the company, valued at approximately $1,376,973.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Chris Koopmans sold 5,000 shares of the company’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 transaction of $367,100.00. Following the sale, the executive vice president now owns 115,318 shares in the company, valued at $8,466,647.56. The disclosure for this sale can be found here. Insiders have sold a total of 79,500 shares of company stock worth $5,504,065 over the last three months. 0.33% of the stock is currently 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.