Marvell Technology, Inc. (NASDAQ:MRVL) Stock Position Raised by Hoylecohen LLC

Hoylecohen LLC lifted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 15.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,594 shares of the semiconductor company’s stock after acquiring an additional 1,646 shares during the quarter. Hoylecohen LLC’s holdings in Marvell Technology were worth $880,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Bruce G. Allen Investments LLC lifted its position in shares of Marvell Technology by 56.4% in the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 141 shares in the last quarter. Oliver Lagore Vanvalin Investment Group lifted its position in shares of Marvell Technology by 46.2% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 165 shares in the last quarter. Salomon & Ludwin LLC purchased a new stake in shares of Marvell Technology in the 1st quarter valued at approximately $31,000. Optimum Investment Advisors purchased a new stake in Marvell Technology in the 1st quarter worth approximately $35,000. Finally, Mark Sheptoff Financial Planning LLC purchased a new stake in Marvell Technology in the 1st quarter worth approximately $35,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling

In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of Marvell Technology 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 $369,400.00. Following the sale, the executive vice president now directly owns 110,318 shares of the company’s stock, valued at $8,150,293.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Daniel Durn bought 1,425 shares of the stock in a transaction dated Monday, June 24th. The shares were acquired at an average price 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Chris Koopmans sold 5,000 shares of the company’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 sale, the executive vice president now directly owns 110,318 shares in the company, valued at approximately $8,150,293.84. The disclosure for this sale can be found here. Insiders sold 64,000 shares of company stock valued at $4,772,495 over the last quarter. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

NASDAQ:MRVL traded down $0.01 during midday trading on Friday, reaching $69.32. The stock had a trading volume of 11,575,832 shares, compared to its average volume of 12,575,054. Marvell Technology, Inc. has a 1-year low of $46.07 and a 1-year high of $85.76. The firm’s fifty day simple moving average is $68.29 and its 200-day simple moving average is $69.32. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.80 and a quick ratio of 1.24. The stock has a market capitalization of $60.00 billion, a P/E ratio of -61.35, a PEG ratio of 2.99 and a beta of 1.47.

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

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 12th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, July 12th. This represents a $0.24 dividend on an annualized basis and a yield of 0.35%. Marvell Technology’s payout ratio is currently -21.24%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MRVL. Evercore ISI increased their target price on shares of Marvell Technology from $88.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. B. Riley increased their target price 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. Barclays increased their target price on shares of Marvell Technology from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, May 31st. Jefferies Financial Group began coverage on shares of Marvell Technology in a research report on Monday, May 13th. They issued a “buy” rating and a $85.00 target price for the company. Finally, Oppenheimer reiterated an “outperform” rating and issued a $90.00 target price (up previously from $80.00) on shares of Marvell Technology in a research report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $85.50.

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.