Ashton Thomas Private Wealth LLC Makes New $76,000 Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Ashton Thomas Private Wealth LLC bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,092 shares of the semiconductor company’s stock, valued at approximately $76,000.

A number of other institutional investors also recently bought and sold shares of the company. Tlwm raised its stake in shares of Marvell Technology by 1.6% in the 2nd quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock valued at $601,000 after acquiring an additional 136 shares during the period. Bruce G. Allen Investments LLC raised its stake in shares of Marvell Technology by 56.4% in 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 during the period. Trueblood Wealth Management LLC raised its stake in shares of Marvell Technology by 3.2% in the 1st quarter. Trueblood Wealth Management LLC now owns 4,944 shares of the semiconductor company’s stock valued at $350,000 after acquiring an additional 152 shares during the period. Edmond DE Rothschild Holding S.A. raised its stake in shares of Marvell Technology by 0.5% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 30,764 shares of the semiconductor company’s stock valued at $1,855,000 after acquiring an additional 162 shares during the period. Finally, Sheaff Brock Investment Advisors LLC raised its stake in shares of Marvell Technology by 0.4% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 44,342 shares of the semiconductor company’s stock valued at $3,143,000 after acquiring an additional 168 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marvell Technology

In other Marvell Technology news, Director Daniel Durn acquired 1,425 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were purchased at an average cost of $70.21 per share, with a total value of $100,049.25. Following the purchase, the director now owns 1,923 shares in the company, valued at $135,013.83. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Marvell Technology news, Director Daniel Durn acquired 1,425 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were purchased at an average cost of $70.21 per share, with a total value of $100,049.25. Following the purchase, the director now owns 1,923 shares in the company, valued at $135,013.83. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Muhammad Raghib Hussain sold 50,000 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the completion of the sale, the insider now directly owns 838,571 shares in the company, valued at $62,892,825. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,500 shares of company stock valued at $4,872,620. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MRVL. The Goldman Sachs Group lifted their price objective on shares of Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a report on Friday, August 30th. Piper Sandler reiterated an “overweight” rating and set a $100.00 price target on shares of Marvell Technology in a report on Friday, August 30th. Bank of America boosted their price target on shares of Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Oppenheimer reiterated an “outperform” rating and set a $90.00 price target (up previously from $80.00) on shares of Marvell Technology in a report on Friday, May 31st. Finally, Benchmark boosted their price target on shares of Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average price target of $91.62.

Marvell Technology Stock Up 0.2 %

Shares of Marvell Technology stock opened at $74.48 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. Marvell Technology, Inc. has a one year low of $46.07 and a one year high of $85.76. The company has a market cap of $66.00 billion, a P/E ratio of -65.91, a PEG ratio of 3.29 and a beta of 1.46. The firm has a fifty day moving average of $68.26 and a two-hundred day moving average of $69.77.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the company posted $0.18 EPS. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, analysts forecast that Marvell Technology, Inc. will post 0.77 earnings per share for the current year.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 12th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, July 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.32%. Marvell Technology’s dividend payout ratio (DPR) is presently -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.