International Assets Investment Management LLC Has $223,000 Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

International Assets Investment Management LLC reduced its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 64.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,047 shares of the semiconductor company’s stock after selling 5,431 shares during the period. International Assets Investment Management LLC’s holdings in Marvell Technology were worth $223,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. &PARTNERS bought a new position in Marvell Technology during the 1st quarter worth $439,000. MJP Associates Inc. ADV raised its position in shares of Marvell Technology by 25.4% in the 1st quarter. MJP Associates Inc. ADV now owns 8,187 shares of the semiconductor company’s stock worth $580,000 after acquiring an additional 1,658 shares in the last quarter. Gulf International Bank UK Ltd raised its position in shares of Marvell Technology by 0.8% in the 1st quarter. Gulf International Bank UK Ltd now owns 74,107 shares of the semiconductor company’s stock worth $5,252,000 after acquiring an additional 594 shares in the last quarter. Optimum Investment Advisors bought a new position in shares of Marvell Technology in the 1st quarter worth about $35,000. Finally, RFG Advisory LLC raised its position in shares of Marvell Technology by 13.1% in the 1st quarter. RFG Advisory LLC now owns 23,669 shares of the semiconductor company’s stock worth $1,678,000 after acquiring an additional 2,736 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MRVL. Evercore ISI lifted their price objective on Marvell Technology from $88.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Summit Insights raised Marvell Technology from a “hold” rating to a “buy” rating in a research report on Friday, March 8th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 target price on shares of Marvell Technology in a research report on Monday, March 4th. KeyCorp decreased their target price on Marvell Technology from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, April 8th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $90.00 target price (up from $80.00) on shares of Marvell Technology in a research report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus target price of $85.00.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $71.50, for a total transaction of $71,500.00. Following the sale, the chief financial officer now owns 101,986 shares of the company’s stock, valued at approximately $7,291,999. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Daniel Durn purchased 1,425 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were purchased at an average price of $70.21 per share, with a total value of $100,049.25. Following the completion of the acquisition, the director now owns 1,923 shares in the company, valued at approximately $135,013.83. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $71.50, for a total transaction of $71,500.00. Following the completion of the transaction, the chief financial officer now directly owns 101,986 shares in the company, valued at approximately $7,291,999. The disclosure for this sale can be found here. Insiders have sold 79,500 shares of company stock valued at $5,504,065 in the last 90 days. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Trading Up 0.0 %

NASDAQ:MRVL opened at $68.27 on Thursday. The company has a current ratio of 1.80, a quick ratio of 1.24 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $59.09 billion, a PE ratio of -60.42, a price-to-earnings-growth ratio of 3.24 and a beta of 1.46. The firm’s 50 day moving average is $70.03 and its 200 day moving average is $68.21. Marvell Technology, Inc. has a 12 month low of $46.07 and a 12 month high of $85.76.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, May 30th. The semiconductor company reported $0.24 EPS for the quarter, hitting analysts’ consensus estimates of $0.24. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Marvell Technology had a negative net margin of 18.33% and a positive return on equity of 4.51%. Marvell Technology’s revenue was down 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 EPS. Sell-side analysts expect that Marvell Technology, Inc. will post 0.75 earnings per share for the current year.

Marvell Technology Announces Dividend

The firm 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. The ex-dividend date of this dividend is Friday, July 12th. This represents a $0.24 dividend on an annualized basis and a yield of 0.35%. Marvell Technology’s payout ratio is -21.24%.

Marvell Technology declared that its board has authorized a stock repurchase program on Thursday, March 7th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 4.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

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.