Mirador Capital Partners LP Has $310,000 Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Mirador Capital Partners LP lifted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 41.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,029 shares of the semiconductor company’s stock after buying an additional 1,485 shares during the period. Mirador Capital Partners LP’s holdings in Marvell Technology were worth $310,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Marvell Technology during the fourth quarter worth $234,000. Prudent Investors Network Inc. acquired a new position in shares of Marvell Technology during the fourth quarter worth $248,000. Hudock Inc. acquired a new position in shares of Marvell Technology during the fourth quarter worth $265,000. Everhart Financial Group Inc. acquired a new position in shares of Marvell Technology during the fourth quarter worth $437,000. Finally, SYM FINANCIAL Corp acquired a new position in shares of Marvell Technology during the fourth quarter worth $263,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Marvell Technology

In other news, Director Brad W. Buss bought 3,000 shares of the company’s stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $69.00 per share, with a total value of $207,000.00. Following the transaction, the director now directly owns 87,113 shares in the company, valued at $6,010,797. This represents a 3.57% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Panteha Dixon sold 1,430 shares of Marvell Technology stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the transaction, the chief accounting officer now directly owns 31,100 shares in the company, valued at approximately $2,138,125. This represents a 4.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,541 shares of company stock valued at $2,079,948. 0.19% of the stock is owned by corporate insiders.

Marvell Technology Stock Performance

Shares of MRVL opened at $59.28 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The stock has a 50-day moving average of $58.72 and a 200-day moving average of $86.81. The company has a market cap of $51.21 billion, a PE ratio of -34.87, a P/E/G ratio of 1.61 and a beta of 1.83. Marvell Technology, Inc. has a one year low of $47.09 and a one year high of $127.48.

Marvell Technology (NASDAQ:MRVL) last issued its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01. Marvell Technology had a positive return on equity of 4.59% and a negative net margin of 27.49%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the business posted $0.24 EPS. The firm’s revenue for the quarter was up 63.3% compared to the same quarter last year. On average, equities research analysts predict that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were given a $0.06 dividend. The ex-dividend date was Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.40%. Marvell Technology’s payout ratio is -42.11%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MRVL. Melius Research downgraded shares of Marvell Technology from a “strong-buy” rating to a “hold” rating and set a $66.00 price target for the company. in a report on Thursday, May 22nd. Wells Fargo & Company decreased their price objective on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft decreased their price objective on Marvell Technology from $100.00 to $85.00 and set a “buy” rating for the company in a report on Friday. Barclays decreased their price objective on Marvell Technology from $130.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Finally, Susquehanna decreased their price objective on Marvell Technology from $110.00 to $90.00 and set a “positive” rating for the company in a report on Tuesday, May 27th. Seven research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $94.21.

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.