Bellwether Advisors LLC Purchases 81,150 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Bellwether Advisors LLC increased its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 205.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,564 shares of the semiconductor company’s stock after purchasing an additional 81,150 shares during the quarter. Marvell Technology makes up approximately 1.5% of Bellwether Advisors LLC’s holdings, making the stock its 15th largest holding. Bellwether Advisors LLC’s holdings in Marvell Technology were worth $7,423,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Capital Analysts LLC grew its position in shares of Marvell Technology by 236.3% in the 4th quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company’s stock worth $38,000 after buying an additional 241 shares during the period. Chelsea Counsel Co. bought a new stake in Marvell Technology during the fourth quarter worth about $44,000. Bernard Wealth Management Corp. purchased a new stake in Marvell Technology in the fourth quarter worth about $45,000. Hughes Financial Services LLC bought a new position in shares of Marvell Technology during the first quarter valued at approximately $26,000. Finally, Johnson Financial Group Inc. lifted its holdings in shares of Marvell Technology by 125.0% during the fourth quarter. Johnson Financial Group Inc. now owns 423 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Activity

In other Marvell Technology news, EVP Mark Casper sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $72.35, for a total transaction of $217,050.00. Following the transaction, the executive vice president owned 17,163 shares of the company’s stock, valued at approximately $1,241,743.05. This trade represents a 14.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred 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 owned 121,348 shares in the company, valued at $8,314,764.96. This represents a 1.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,934 shares of company stock worth $1,187,826 over the last ninety days. 0.19% of the stock is owned by company insiders.

Marvell Technology Price Performance

Shares of MRVL opened at $74.21 on Friday. Marvell Technology, Inc. has a 52 week low of $47.08 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 $64.10 billion, a price-to-earnings ratio of -130.19, a PEG ratio of 0.80 and a beta of 1.81. The stock has a 50 day moving average of $69.95 and a 200-day moving average of $77.39.

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

Marvell Technology Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MRVL shares. TD Cowen lifted their price objective on Marvell Technology from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, May 30th. Piper Sandler restated an “overweight” rating and set a $85.00 price target (down from $95.00) on shares of Marvell Technology in a report on Friday, May 30th. Susquehanna dropped their price target on shares of Marvell Technology from $110.00 to $90.00 and set a “positive” rating on the stock in a research note on Tuesday, May 27th. Melius Research raised their price objective on shares of Marvell Technology from $67.00 to $76.00 and gave the company a “hold” rating in a research note on Wednesday, June 18th. Finally, Wall Street Zen cut shares of Marvell Technology from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $94.47.

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.