Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Gateway Advisory LLC

Gateway Advisory LLC lifted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 5.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,374 shares of the semiconductor company’s stock after purchasing an additional 514 shares during the period. Gateway Advisory LLC’s holdings in Marvell Technology were worth $655,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bruce G. Allen Investments LLC grew its holdings in 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 buying an additional 141 shares in the last quarter. Salomon & Ludwin LLC acquired a new stake in Marvell Technology during the first quarter worth about $31,000. Optimum Investment Advisors acquired a new position in Marvell Technology in the 1st quarter valued at about $35,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Marvell Technology in the 1st quarter valued at approximately $35,000. Finally, Bogart Wealth LLC increased its holdings in shares of Marvell Technology by 1,480.0% during the 1st quarter. Bogart Wealth LLC now owns 632 shares of the semiconductor company’s stock worth $45,000 after buying an additional 592 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. Roth Mkm reissued a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. KeyCorp boosted their price objective on shares of Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Bank of America increased their target price on shares of Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $95.00 price target (up from $90.00) on shares of Marvell Technology in a research note on Friday, August 30th. Two research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and an average target price of $91.62.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $70.07, for a total transaction of $175,175.00. Following the sale, the executive vice president now owns 20,450 shares of the company’s stock, valued at $1,432,931.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $70.07, for a total transaction of $175,175.00. Following the transaction, the executive vice president now owns 20,450 shares of the company’s stock, valued at $1,432,931.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew J. Murphy sold 6,000 shares of Marvell Technology stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $73.29, for a total value of $439,740.00. Following the sale, the chief executive officer now owns 208,915 shares in the company, valued at approximately $15,311,380.35. The disclosure for this sale can be found here. Insiders sold 160,000 shares of company stock valued at $11,878,785 over the last three months. 0.33% of the stock is owned by corporate insiders.

Marvell Technology Stock Down 2.8 %

Shares of Marvell Technology stock opened at $71.81 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. Marvell Technology, Inc. has a 52-week low of $46.07 and a 52-week high of $85.76. The company has a market capitalization of $62.16 billion, a P/E ratio of -63.55, a P/E/G ratio of 3.29 and a beta of 1.46. The company has a 50 day moving average of $68.16 and a 200 day moving average of $69.54.

Marvell Technology (NASDAQ:MRVL) last issued its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS 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 firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the firm posted $0.18 earnings per share. The company’s revenue was down 5.1% compared to the same quarter last year. As a group, research analysts forecast that Marvell Technology, Inc. will post 0.77 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Friday, October 11th. 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.