Raymond James & Associates Buys 105,440 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Raymond James & Associates lifted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 11.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,056,530 shares of the semiconductor company’s stock after acquiring an additional 105,440 shares during the quarter. Raymond James & Associates owned approximately 0.12% of Marvell Technology worth $73,851,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in MRVL. Tlwm increased its stake in shares of Marvell Technology by 1.6% in the 2nd quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock valued at $601,000 after acquiring an additional 136 shares in the last quarter. Bruce G. Allen Investments LLC grew its holdings in Marvell Technology by 56.4% during the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 141 shares during the period. Trueblood Wealth Management LLC increased its holdings in Marvell Technology by 3.2% in the 1st quarter. Trueblood Wealth Management LLC now owns 4,944 shares of the semiconductor company’s stock worth $350,000 after acquiring an additional 152 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its stake in shares of Marvell Technology by 0.5% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 30,764 shares of the semiconductor company’s stock worth $1,855,000 after purchasing an additional 162 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC raised its holdings in Marvell Technology by 0.4% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 44,342 shares of the semiconductor company’s stock valued at $3,143,000 after acquiring an additional 168 shares during the period. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL traded down $0.01 during 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. The stock has a market cap of $60.00 billion, a PE ratio of -61.35, a PEG ratio of 2.99 and a beta of 1.47. Marvell Technology, Inc. has a 1-year low of $46.07 and a 1-year high of $85.76. The business has a fifty day moving average price of $68.29 and a 200-day moving average price of $69.32. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.24 and a current ratio of 1.80.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share for the quarter, meeting 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 during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the company posted $0.17 EPS. The business’s revenue for the quarter was down 12.2% on a year-over-year basis. On average, equities analysts forecast that Marvell Technology, Inc. will post 0.75 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Friday, July 12th. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

Insider Transactions at Marvell Technology

In other news, insider Muhammad Raghib Hussain sold 50,000 shares of Marvell Technology stock in a transaction dated 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 $62,892,825. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Muhammad Raghib Hussain sold 50,000 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $75.00, for a total value of $3,750,000.00. Following the completion of the sale, the insider now owns 838,571 shares in the company, valued at approximately $62,892,825. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction 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. In the last ninety days, insiders sold 64,000 shares of company stock valued at $4,772,495. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MRVL. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 target price on shares of Marvell Technology in a research note on Friday, May 31st. Oppenheimer restated an “outperform” rating and issued a $90.00 price objective (up from $80.00) on shares of Marvell Technology in a report on Friday, May 31st. Barclays lifted their price target on Marvell Technology from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, May 31st. StockNews.com cut shares of Marvell Technology from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. Finally, Morgan Stanley lifted their price target on shares of Marvell Technology from $71.00 to $77.00 and gave the company an “equal weight” rating in a research report on Friday, May 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.50.

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.