Independent Solutions Wealth Management LLC Lowers Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Independent Solutions Wealth Management LLC reduced its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 5.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,750 shares of the semiconductor company’s stock after selling 359 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Marvell Technology were worth $416,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in MRVL. Bank Pictet & Cie Europe AG lifted its holdings in shares of Marvell Technology by 0.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 66,710 shares of the semiconductor company’s stock worth $7,368,000 after acquiring an additional 460 shares during the period. Principal Financial Group Inc. lifted its position in Marvell Technology by 385.7% during the fourth quarter. Principal Financial Group Inc. now owns 135,258 shares of the semiconductor company’s stock valued at $14,939,000 after buying an additional 107,410 shares in the last quarter. First Horizon Advisors Inc. lifted its position in Marvell Technology by 20.2% during the fourth quarter. First Horizon Advisors Inc. now owns 2,037 shares of the semiconductor company’s stock valued at $225,000 after buying an additional 343 shares in the last quarter. MONECO Advisors LLC grew its stake in Marvell Technology by 3.9% during the fourth quarter. MONECO Advisors LLC now owns 4,108 shares of the semiconductor company’s stock worth $454,000 after buying an additional 155 shares during the period. Finally, IFP Advisors Inc increased its position in shares of Marvell Technology by 14.5% in the fourth quarter. IFP Advisors Inc now owns 6,315 shares of the semiconductor company’s stock worth $697,000 after acquiring an additional 801 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Marvell Technology news, EVP Mark Casper sold 12,460 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $685,300.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $68.52, for a total transaction of $102,780.00. Following the transaction, the chief financial officer now directly owns 121,348 shares of the company’s stock, valued at approximately $8,314,764.96. This trade represents a 1.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,394 shares of company stock valued at $1,656,076 over the last quarter. Insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

Shares of MRVL opened at $75.21 on Wednesday. Marvell Technology, Inc. has a 52 week low of $47.09 and a 52 week high of $127.48. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. The firm has a market cap of $64.97 billion, a price-to-earnings ratio of -131.95, a PEG ratio of 0.77 and a beta of 1.76. The stock has a 50 day moving average of $62.82 and a 200-day moving average of $83.70.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. Marvell Technology had a negative net margin of 7.56% and a positive return on equity of 8.42%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the company posted $0.24 earnings per share. The firm’s revenue was up 63.3% on a year-over-year basis. As a group, analysts forecast that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, July 11th. This represents a $0.24 annualized dividend and a yield of 0.32%. Marvell Technology’s dividend payout ratio (DPR) is -42.11%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Evercore ISI reduced their target price on shares of Marvell Technology from $135.00 to $133.00 and set an “outperform” rating on the stock in a report on Friday, May 30th. Citigroup cut their price objective on Marvell Technology from $122.00 to $96.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. UBS Group restated a “buy” rating on shares of Marvell Technology in a research note on Monday, June 2nd. Roth Capital set a $100.00 target price on Marvell Technology in a research note on Thursday, March 6th. Finally, Redburn Atlantic started coverage on Marvell Technology in a report on Wednesday, May 28th. They set a “neutral” rating and a $67.00 target price on the stock. Six research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.33.

Marvell Technology Company 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.