Mount Yale Investment Advisors LLC Sells 325 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Mount Yale Investment Advisors LLC trimmed its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,634 shares of the semiconductor company’s stock after selling 325 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Marvell Technology were worth $813,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tlwm increased its position in shares of Marvell Technology by 1.6% during the 2nd quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock valued at $601,000 after purchasing an additional 136 shares during the last quarter. Bruce G. Allen Investments LLC lifted its holdings 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 worth $28,000 after acquiring an additional 141 shares during the last quarter. Trueblood Wealth Management LLC boosted 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 purchasing an additional 152 shares in the last quarter. Edmond DE Rothschild Holding S.A. grew its holdings in shares of Marvell Technology by 0.5% during 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 purchasing an additional 162 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC raised its position in 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 worth $3,143,000 after purchasing an additional 168 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Price Performance

Shares of MRVL opened at $71.81 on Tuesday. The firm’s 50-day simple moving average is $68.16 and its two-hundred day simple moving average is $69.54. Marvell Technology, Inc. has a fifty-two week low of $46.07 and a fifty-two week high of $85.76. The stock has a market cap of $62.16 billion, a PE ratio of -63.55, a price-to-earnings-growth ratio of 3.29 and a beta of 1.46. 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 (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the business earned $0.18 earnings per share. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. Analysts anticipate that Marvell Technology, Inc. will post 0.77 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.24 annualized dividend and a yield of 0.33%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

Insider Buying and Selling at Marvell Technology

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MRVL shares. Evercore ISI raised their price objective on Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Barclays boosted their price objective on Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $95.00 target price (up from $90.00) on shares of Marvell Technology in a research note on Friday, August 30th. KeyCorp increased their price target on shares of Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Finally, B. Riley upped their price objective on shares of 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 assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $91.62.

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.