Eagle Wealth Strategies LLC Buys Shares of 5,265 Marvell Technology, Inc. (NASDAQ:MRVL)

Eagle Wealth Strategies LLC bought a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,265 shares of the semiconductor company’s stock, valued at approximately $380,000.

Other hedge funds have also added to or reduced their stakes in the company. Bruce G. Allen Investments LLC grew its holdings 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 buying an additional 141 shares in the last quarter. Salomon & Ludwin LLC purchased a new position in Marvell Technology during the 1st quarter valued at about $31,000. Strategic Investment Solutions Inc. IL purchased a new position in Marvell Technology during the 2nd quarter valued at about $32,000. Quarry LP purchased a new position in Marvell Technology during the 2nd quarter valued at about $32,000. Finally, Optimum Investment Advisors purchased a new position in shares of Marvell Technology during the first quarter worth about $35,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insiders Place Their Bets

In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $73.88, for a total value of $369,400.00. Following the completion of the transaction, the executive vice president now owns 110,318 shares in the company, valued at approximately $8,150,293.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Mark Casper sold 2,500 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $70.83, for a total value of $177,075.00. Following the sale, the executive vice president now directly owns 22,494 shares of the company’s stock, valued at approximately $1,593,250.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $73.88, for a total value of $369,400.00. Following the completion of the sale, the executive vice president now directly owns 110,318 shares in the company, valued at approximately $8,150,293.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,000 shares of company stock worth $8,130,685. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MRVL has been the subject of several recent analyst reports. Morgan Stanley boosted their price objective on Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. KeyCorp boosted their price objective on Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Barclays boosted their price objective on Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Bank of America boosted their price objective on Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $91.62.

Marvell Technology Trading Down 1.4 %

Shares of Marvell Technology stock traded down $1.05 during midday trading on Wednesday, reaching $72.06. 1,014,539 shares of the company’s stock traded hands, compared to its average volume of 12,338,009. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. The company has a market cap of $62.38 billion, a PE ratio of -64.70, a price-to-earnings-growth ratio of 3.12 and a beta of 1.45. The stock has a 50 day moving average of $69.30 and a 200-day moving average of $69.84. Marvell Technology, Inc. has a 12 month low of $46.07 and a 12 month high of $85.76.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 earnings per share. As a group, equities analysts expect that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. 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.