GM Advisory Group LLC Grows Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

GM Advisory Group LLC grew its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 17.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,257 shares of the semiconductor company’s stock after acquiring an additional 4,420 shares during the period. GM Advisory Group LLC’s holdings in Marvell Technology were worth $2,115,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Bruce G. Allen Investments LLC grew its position 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 buying an additional 141 shares during the last quarter. Salomon & Ludwin LLC purchased a new stake in Marvell Technology in the first quarter worth $31,000. Optimum Investment Advisors bought a new stake in Marvell Technology in the first quarter valued at $35,000. Mark Sheptoff Financial Planning LLC purchased a new position in Marvell Technology during the 1st quarter valued at $35,000. Finally, Bogart Wealth LLC raised its holdings in Marvell Technology by 1,480.0% in the 1st quarter. Bogart Wealth LLC now owns 632 shares of the semiconductor company’s stock worth $45,000 after purchasing an additional 592 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $73.87, for a total value of $110,805.00. Following the transaction, the chief financial officer now directly owns 111,753 shares in the company, valued at approximately $8,255,194.11. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $73.87, for a total value of $110,805.00. Following the transaction, the chief financial officer now owns 111,753 shares of the company’s stock, valued at $8,255,194.11. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Muhammad Raghib Hussain sold 50,000 shares of the company’s 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 sale, the insider now directly owns 838,571 shares of the company’s stock, valued at approximately $62,892,825. The disclosure for this sale can be found here. In the last quarter, insiders sold 160,000 shares of company stock valued at $11,878,785. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MRVL shares. Bank of America lifted their target price on shares of Marvell Technology from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Barclays raised their price objective on shares of Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. TD Cowen raised Marvell Technology to a “strong-buy” rating in a research report on Monday. Roth Mkm restated a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a research report on Friday, August 30th. Finally, B. Riley increased their price objective on Marvell Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Two equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $91.62.

Marvell Technology Stock Up 4.7 %

Marvell Technology stock opened at $74.88 on Friday. The firm has a market cap of $64.82 billion, a price-to-earnings ratio of -66.27, a PEG ratio of 3.29 and a beta of 1.46. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. Marvell Technology, Inc. has a 12 month low of $46.07 and a 12 month high of $85.76. The stock has a fifty day simple moving average of $68.19 and a two-hundred day simple moving average of $69.81.

Marvell Technology (NASDAQ:MRVL) last issued its 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. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. Marvell Technology’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.18 EPS. Equities analysts predict that Marvell Technology, Inc. will post 0.77 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be given a $0.06 dividend. 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 (DPR) is presently -21.24%.

Marvell Technology 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.