Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by Breakwater Capital Group

Breakwater Capital Group boosted its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 4.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,809 shares of the semiconductor company’s stock after buying an additional 350 shares during the period. Breakwater Capital Group’s holdings in Marvell Technology were worth $546,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC boosted its stake 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 buying an additional 141 shares in the last quarter. Salomon & Ludwin LLC acquired a new stake in Marvell Technology during the 1st quarter worth about $31,000. Optimum Investment Advisors purchased a new stake in shares of Marvell Technology during the 1st quarter worth about $35,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Marvell Technology during the 1st quarter worth about $35,000. Finally, Bogart Wealth LLC raised its stake in shares of Marvell Technology by 1,480.0% during the 1st quarter. Bogart Wealth LLC now owns 632 shares of the semiconductor company’s stock worth $45,000 after purchasing an additional 592 shares in the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $73.88, for a total transaction of $110,820.00. Following the completion of the sale, the chief financial officer now owns 109,318 shares in the company, valued at $8,076,413.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Willem A. Meintjes sold 1,500 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 value of $110,820.00. Following the completion of the sale, the chief financial officer now owns 109,318 shares in the company, valued at $8,076,413.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Chris Koopmans sold 5,000 shares of the company’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 completion of the sale, the executive vice president now owns 115,318 shares of the company’s stock, valued at approximately $8,466,647.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,500 shares of company stock worth $4,872,620. 0.33% of the stock is currently owned by insiders.

Marvell Technology Price Performance

MRVL stock traded down $1.27 during trading on Wednesday, hitting $68.44. The company had a trading volume of 8,633,142 shares, compared to its average volume of 12,436,310. The company has a fifty day moving average price of $68.02 and a two-hundred day moving average price of $69.43. 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 cap of $59.24 billion, a P/E ratio of -61.69, a P/E/G ratio of 2.99 and a beta of 1.47. Marvell Technology, Inc. has a fifty-two week low of $46.07 and a fifty-two week high of $85.76.

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

Marvell Technology Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. KeyCorp raised their price target on Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Oppenheimer reaffirmed an “outperform” rating and set a $90.00 price target (up from $80.00) on shares of Marvell Technology in a research note on Friday, May 31st. Stifel Nicolaus raised their price objective on Marvell Technology from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Needham & Company LLC reissued a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research note on Friday, May 31st. Finally, Jefferies Financial Group initiated coverage on Marvell Technology in a research note on Monday, May 13th. They issued a “buy” rating and a $85.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and an average price target of $86.05.

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.