Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC cut its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 20.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,959 shares of the semiconductor company’s stock after selling 3,023 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Marvell Technology were worth $848,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MRVL. Bruce G. Allen Investments LLC raised its stake 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 acquiring an additional 141 shares during the last quarter. Oliver Lagore Vanvalin Investment Group raised its stake in shares of Marvell Technology by 46.2% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock worth $31,000 after buying an additional 165 shares in the last quarter. Salomon & Ludwin LLC purchased a new position in shares of Marvell Technology during the 1st quarter worth approximately $31,000. Optimum Investment Advisors purchased a new position in shares of Marvell Technology during the 1st quarter worth approximately $35,000. Finally, Mark Sheptoff Financial Planning LLC purchased a new position in shares of Marvell Technology during the 1st quarter worth approximately $35,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MRVL. KeyCorp increased their target price on Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Morgan Stanley raised their price objective on Marvell Technology from $71.00 to $77.00 and gave the company an “equal weight” rating in a research note on Friday, May 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research note on Friday, May 31st. B. Riley raised their price objective on Marvell Technology from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Finally, StockNews.com downgraded Marvell Technology from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and a consensus target price of $85.50.

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,000 shares of Marvell Technology stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $64.49, for a total transaction of $64,490.00. Following the sale, the chief financial officer now directly owns 110,218 shares of the company’s stock, valued at $7,107,958.82. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Willem A. Meintjes sold 1,000 shares of Marvell Technology stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $64.49, for a total transaction of $64,490.00. Following the sale, the chief financial officer now directly owns 110,218 shares of the company’s stock, valued at $7,107,958.82. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $73.88, for a total value of $110,820.00. Following the completion of the transaction, the chief financial officer now owns 109,318 shares of the company’s stock, valued at $8,076,413.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,000 shares of company stock valued at $7,255,235. 0.33% of the stock is currently owned by insiders.

Marvell Technology Trading Up 0.1 %

Marvell Technology stock traded up $0.05 during midday trading on Tuesday, reaching $64.53. The stock had a trading volume of 471,333 shares, compared to its average volume of 12,510,561. Marvell Technology, Inc. has a twelve month low of $46.07 and a twelve month high of $85.76. The stock has a market capitalization of $55.86 billion, a PE ratio of -57.06, a price-to-earnings-growth ratio of 3.11 and a beta of 1.47. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.24 and a current ratio of 1.80. The stock’s 50-day simple moving average is $71.15 and its 200 day simple moving average is $69.94.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, May 30th. The semiconductor company reported $0.24 EPS for the quarter, meeting the consensus estimate of $0.24. Marvell Technology had a positive return on equity of 4.51% and a negative net margin of 18.33%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the company posted $0.17 earnings per share. The firm’s revenue was down 12.2% compared to the same quarter last year. Analysts expect that Marvell Technology, Inc. will post 0.75 EPS for the current year.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 12th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date is Friday, July 12th. Marvell Technology’s payout ratio is -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.