Wealthcare Advisory Partners LLC Has $491,000 Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Wealthcare Advisory Partners LLC boosted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 5.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,928 shares of the semiconductor company’s stock after purchasing an additional 356 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Marvell Technology were worth $491,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Bruce G. Allen Investments LLC lifted its stake in Marvell Technology by 56.4% during the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 141 shares in the last quarter. SJS Investment Consulting Inc. lifted its stake in Marvell Technology by 56.8% during the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 155 shares in the last quarter. Optimum Investment Advisors bought a new position in Marvell Technology during the 1st quarter valued at $35,000. Oliver Lagore Vanvalin Investment Group lifted its stake in Marvell Technology by 46.2% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 165 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in Marvell Technology by 34.7% during the 4th quarter. Versant Capital Management Inc now owns 625 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 161 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Chris Koopmans sold 5,000 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $71.25, for a total transaction of $356,250.00. Following the completion of the transaction, the executive vice president now directly owns 109,117 shares in the company, valued at $7,774,586.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Daniel Durn purchased 1,425 shares of Marvell Technology stock in a transaction dated Monday, June 24th. The stock was purchased at an average cost of $70.21 per share, for a total transaction of $100,049.25. Following the completion of the acquisition, the director now directly owns 1,923 shares of the company’s stock, valued at $135,013.83. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Chris Koopmans sold 5,000 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $71.25, for a total value of $356,250.00. Following the transaction, the executive vice president now owns 109,117 shares of the company’s stock, valued at $7,774,586.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,500 shares of company stock worth $5,504,065. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MRVL has been the topic of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a research note on Friday, May 31st. Summit Insights raised Marvell Technology from a “hold” rating to a “buy” rating in a report on Friday, March 8th. StockNews.com cut shares of Marvell Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Barclays upped their price objective on shares of Marvell Technology from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, May 31st. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $100.00 price target on shares of Marvell Technology in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and an average price target of $85.00.

Marvell Technology Price Performance

MRVL opened at $69.90 on Friday. The stock has a fifty day simple moving average of $70.26 and a two-hundred day simple moving average of $68.42. 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 company has a market cap of $60.51 billion, a price-to-earnings ratio of -61.86, a price-to-earnings-growth ratio of 3.26 and a beta of 1.46. 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 data on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.24. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. Marvell Technology had a positive return on equity of 4.51% and a negative net margin of 18.33%. The firm’s quarterly revenue was down 12.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.17 earnings per share. Research analysts predict that Marvell Technology, Inc. will post 0.75 earnings per share for the current fiscal year.

Marvell Technology announced that its board has approved a stock repurchase program on Thursday, March 7th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the semiconductor company to purchase up to 4.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th will be issued a $0.06 dividend. The ex-dividend date is Friday, July 12th. This represents a $0.24 dividend on an annualized basis and a yield of 0.34%. Marvell Technology’s dividend payout ratio (DPR) is -21.24%.

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.