Wednesday, July 24, 2024

Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by Janney Montgomery Scott LLC

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Janney Montgomery Scott LLC boosted its stake in Marvell Technology, Inc. (NASDAQ:MRVLFree Report) by 85.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 77,850 shares of the semiconductor company’s stock after buying an additional 35,760 shares during the period. Janney Montgomery Scott LLC’s holdings in Marvell Technology were worth $5,518,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. lifted its position in shares of Marvell Technology by 157.3% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 772 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 472 shares in the last quarter. Hoylecohen LLC purchased a new position in Marvell Technology in the fourth quarter valued at $658,000. US Bancorp DE boosted its position in shares of Marvell Technology by 8.6% during the 4th quarter. US Bancorp DE now owns 185,347 shares of the semiconductor company’s stock worth $11,178,000 after acquiring an additional 14,651 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Marvell Technology by 6.2% during the 4th quarter. Franklin Resources Inc. now owns 3,199,865 shares of the semiconductor company’s stock worth $192,984,000 after acquiring an additional 187,998 shares in the last quarter. Finally, Centaurus Financial Inc. increased its stake in Marvell Technology by 6.1% in the fourth quarter. Centaurus Financial Inc. now owns 4,513 shares of the semiconductor company’s stock valued at $272,000 after purchasing an additional 260 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $74.88 on Thursday. Marvell Technology, Inc. has a 12 month low of $46.07 and a 12 month high of $85.76. The firm has a market capitalization of $64.82 billion, a price-to-earnings ratio of -66.27, a price-to-earnings-growth ratio of 3.55 and a beta of 1.47. The business’s 50 day simple moving average is $71.37 and its 200-day simple moving average is $69.18. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.80 and a quick ratio of 1.24.

Marvell Technology (NASDAQ:MRVLGet Free Report) last announced its quarterly earnings results on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. Marvell Technology had a positive return on equity of 4.51% and a negative net margin of 18.33%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the business posted $0.17 earnings per share. The business’s revenue for the quarter was down 12.2% on a year-over-year basis. As a group, equities analysts forecast that Marvell Technology, Inc. will post 0.75 earnings per share 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 issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Friday, July 12th. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

Insiders Place Their Bets

In related news, insider Muhammad Raghib Hussain sold 50,000 shares of the 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 sale, the insider now owns 838,571 shares of the company’s stock, valued at $62,892,825. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Matthew J. Murphy sold 30,000 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $68.82, for a total transaction of $2,064,600.00. Following the sale, the chief executive officer now owns 716,545 shares in the company, valued at $49,312,626.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Muhammad Raghib Hussain sold 50,000 shares of the company’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 transaction, the insider now owns 838,571 shares of the company’s stock, valued at $62,892,825. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 131,000 shares of company stock valued at $9,357,740. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

MRVL has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their target price on shares of Marvell Technology from $86.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, May 31st. StockNews.com cut Marvell Technology from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Jefferies Financial Group started coverage on shares of Marvell Technology in a research report on Monday, May 13th. They set a “buy” rating and a $85.00 target price on the stock. Evercore ISI lifted their target price on shares of Marvell Technology from $88.00 to $91.00 and gave the company an “outperform” rating in a report on Friday, May 31st. Finally, Morgan Stanley lifted their price objective on shares of Marvell Technology from $71.00 to $77.00 and gave the company an “equal weight” rating in a research note on Friday, May 31st. One investment 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.24.

View Our Latest Stock Report on MRVL

Marvell Technology Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)



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