Ground Swell Capital LLC Buys Shares of 4,437 Marvell Technology, Inc. (NASDAQ:MRVL)

Ground Swell Capital LLC purchased a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the first quarter, HoldingsChannel.com reports. The firm purchased 4,437 shares of the semiconductor company’s stock, valued at approximately $273,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MRVL. Hughes Financial Services LLC purchased a new stake in Marvell Technology in the first quarter worth about $26,000. Rossby Financial LCC purchased a new stake in Marvell Technology in the first quarter worth about $27,000. Financial Connections Group Inc. increased its position in Marvell Technology by 776.0% in the first quarter. Financial Connections Group Inc. now owns 438 shares of the semiconductor company’s stock worth $27,000 after buying an additional 388 shares in the last quarter. Vision Financial Markets LLC purchased a new stake in Marvell Technology in the first quarter worth about $28,000. Finally, Security National Bank purchased a new stake in Marvell Technology in the first quarter worth about $31,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

MRVL has been the subject of a number of analyst reports. Cantor Fitzgerald upped their price target on Marvell Technology from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 18th. China Renaissance assumed coverage on Marvell Technology in a research note on Thursday, June 5th. They set a “buy” rating and a $110.00 target price on the stock. Melius Research lifted their target price on Marvell Technology from $67.00 to $76.00 and gave the company a “hold” rating in a research note on Wednesday, June 18th. Loop Capital decreased their target price on Marvell Technology from $110.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, May 30th. Finally, Morgan Stanley reissued an “equal weight” rating on shares of Marvell Technology in a research note on Friday, August 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $94.70.

Marvell Technology Trading Up 1.9%

MRVL opened at $79.32 on Thursday. The firm has a market cap of $68.52 billion, a price-to-earnings ratio of -139.16, a PEG ratio of 0.84 and a beta of 1.83. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. Marvell Technology, Inc. has a 12 month low of $47.08 and a 12 month high of $127.48. The stock has a fifty day moving average price of $73.87 and a 200-day moving average price of $73.82.

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

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Friday, July 11th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date was Friday, July 11th. Marvell Technology’s payout ratio is -42.11%.

Insider Buying and Selling

In related news, EVP Mark Casper sold 3,000 shares of the business’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $72.35, for a total transaction of $217,050.00. Following the transaction, the executive vice president directly owned 17,163 shares in the company, valued at $1,241,743.05. The trade was a 14.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Panteha Dixon sold 1,283 shares of the business’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $68.50, for a total value of $87,885.50. Following the transaction, the chief accounting officer owned 29,572 shares in the company, valued at approximately $2,025,682. This trade represents a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,409 shares of company stock worth $445,964 in the last ninety days. 0.19% of the stock is owned by insiders.

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.