AE Wealth Management LLC Increases Position in Marvell Technology, Inc. (NASDAQ:MRVL)

AE Wealth Management LLC increased its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 64.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,771 shares of the semiconductor company’s stock after buying an additional 22,642 shares during the period. AE Wealth Management LLC’s holdings in Marvell Technology were worth $4,038,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in MRVL. Vanguard Group Inc. boosted its stake in shares of Marvell Technology by 0.6% during the first quarter. Vanguard Group Inc. now owns 72,810,448 shares of the semiconductor company’s stock valued at $5,160,805,000 after acquiring an additional 468,086 shares during the last quarter. Capital Research Global Investors increased its stake in Marvell Technology by 0.5% during the fourth quarter. Capital Research Global Investors now owns 35,791,266 shares of the semiconductor company’s stock worth $2,158,601,000 after acquiring an additional 185,479 shares during the last quarter. Matrix Capital Management Company LP raised its holdings in shares of Marvell Technology by 14.3% in the 4th quarter. Matrix Capital Management Company LP now owns 15,055,500 shares of the semiconductor company’s stock worth $907,997,000 after purchasing an additional 1,888,676 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Marvell Technology by 13.4% in the 1st quarter. Janus Henderson Group PLC now owns 13,478,472 shares of the semiconductor company’s stock valued at $955,400,000 after purchasing an additional 1,591,874 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Marvell Technology by 17.6% during the 2nd quarter. Van ECK Associates Corp now owns 5,901,773 shares of the semiconductor company’s stock worth $412,533,000 after purchasing an additional 884,380 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on MRVL shares. Roth Mkm restated a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a report on Friday, August 30th. Rosenblatt Securities lifted their target price on shares of Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 price target on shares of Marvell Technology in a report on Friday, August 30th. Needham & Company LLC restated a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. Finally, B. Riley increased their target price on Marvell Technology from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Two research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $91.62.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $66.75, for a total transaction of $100,125.00. Following the transaction, the chief financial officer now directly owns 113,253 shares in the company, valued at $7,559,637.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $70.07, for a total value of $175,175.00. Following the completion of the transaction, the executive vice president now directly owns 20,450 shares of the company’s stock, valued at approximately $1,432,931.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $66.75, for a total transaction of $100,125.00. Following the sale, the chief financial officer now owns 113,253 shares in the company, valued at approximately $7,559,637.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 160,000 shares of company stock worth $11,878,785. 0.33% of the stock is currently owned by corporate insiders.

Marvell Technology Trading Down 1.3 %

MRVL opened at $73.87 on Monday. Marvell Technology, Inc. has a 12-month low of $46.07 and a 12-month high of $85.76. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. The stock has a market capitalization of $63.94 billion, a PE ratio of -65.37, a P/E/G ratio of 3.29 and a beta of 1.46. The firm’s fifty day moving average price is $68.20 and its 200 day moving average price is $69.63.

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

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Friday, October 11th. Marvell Technology’s dividend payout ratio 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.