Ieq Capital LLC Grows Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Ieq Capital LLC increased its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 2.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,860 shares of the semiconductor company’s stock after purchasing an additional 1,249 shares during the quarter. Ieq Capital LLC’s holdings in Marvell Technology were worth $3,905,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Bruce G. Allen Investments LLC grew its holdings in shares of Marvell Technology by 56.4% in the first 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 period. Salomon & Ludwin LLC bought a new stake in shares of Marvell Technology during the 1st quarter valued at about $31,000. Optimum Investment Advisors purchased a new stake in shares of Marvell Technology during the 1st quarter valued at about $35,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of Marvell Technology in the 1st quarter worth approximately $35,000. Finally, Bogart Wealth LLC boosted its holdings in shares of Marvell Technology by 1,480.0% in the first 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 own 83.51% of the company’s stock.

Insider Activity

In related news, Director Daniel Durn acquired 1,425 shares of Marvell Technology stock in a transaction on Monday, June 24th. The shares were bought at an average cost of $70.21 per share, with a total value of $100,049.25. Following the completion of the purchase, the director now directly owns 1,923 shares of the company’s stock, valued at approximately $135,013.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Daniel Durn acquired 1,425 shares of the company’s stock in a transaction on Monday, June 24th. The stock was bought at an average cost of $70.21 per share, with a total value of $100,049.25. Following the completion of the purchase, the director now directly owns 1,923 shares of the company’s stock, valued at $135,013.83. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $73.88, for a total transaction 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. 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. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MRVL has been the topic of several recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 price target on shares of Marvell Technology in a research report on Friday, August 30th. Benchmark upped their price objective on Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a report on Wednesday. B. Riley upped their price target on Marvell Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, Morgan Stanley lifted their price objective on Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.62.

Marvell Technology Trading Down 1.3 %

Shares of MRVL stock opened at $73.87 on Friday. The stock’s 50-day moving average price is $68.20 and its 200-day moving average price is $69.78. Marvell Technology, Inc. has a 12-month low of $46.07 and a 12-month high of $85.76. The stock has a market capitalization of $63.94 billion, a price-to-earnings ratio of -65.37, a price-to-earnings-growth 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 (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the firm earned $0.18 EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. Equities research analysts predict 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 issued a $0.06 dividend. The ex-dividend date is Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.32%. 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.