Stanley Laman Group Ltd. Purchases 1,954 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Stanley Laman Group Ltd. increased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 3.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 58,006 shares of the semiconductor company’s stock after acquiring an additional 1,954 shares during the period. Stanley Laman Group Ltd.’s holdings in Marvell Technology were worth $4,055,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Tlwm increased its holdings in shares of Marvell Technology by 1.6% in the second quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock worth $601,000 after purchasing an additional 136 shares during the period. Bruce G. Allen Investments LLC raised 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 valued at $28,000 after acquiring an additional 141 shares in the last quarter. Trueblood Wealth Management LLC boosted its position in shares of Marvell Technology by 3.2% during the 1st quarter. Trueblood Wealth Management LLC now owns 4,944 shares of the semiconductor company’s stock valued at $350,000 after acquiring an additional 152 shares during the last quarter. Edmond DE Rothschild Holding S.A. grew its holdings in shares of Marvell Technology by 0.5% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 30,764 shares of the semiconductor company’s stock worth $1,855,000 after purchasing an additional 162 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group increased its position in shares of Marvell Technology by 46.2% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 165 shares during the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MRVL. Needham & Company LLC reiterated a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research report on Friday, May 31st. Stifel Nicolaus upped their target price on shares of Marvell Technology from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price target on shares of Marvell Technology in a research report on Friday, May 31st. KeyCorp upped 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. Finally, Jefferies Financial Group began coverage on Marvell Technology in a research report on Monday, May 13th. They set a “buy” rating and a $85.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $85.50.

Insiders Place Their Bets

In other news, Director Daniel Durn bought 1,425 shares of the stock in a transaction dated Monday, June 24th. The stock was bought at an average price of $70.21 per share, for a total transaction of $100,049.25. Following the purchase, the director now directly owns 1,923 shares in the company, valued at approximately $135,013.83. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $70.07, for a total value of $175,175.00. Following the sale, the executive vice president now owns 20,450 shares in the company, valued at $1,432,931.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel Durn purchased 1,425 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was bought at an average cost of $70.21 per share, for a total transaction of $100,049.25. Following the completion of the transaction, the director now owns 1,923 shares in the company, valued at $135,013.83. The disclosure for this purchase can be found here. Insiders sold 64,000 shares of company stock worth $4,772,495 over the last three months. Company insiders own 0.33% of the company’s stock.

Marvell Technology Trading Down 0.0 %

MRVL traded down $0.01 during midday trading on Friday, reaching $69.32. 11,575,832 shares of the company’s stock traded hands, compared to its average volume of 12,575,054. Marvell Technology, Inc. has a 52 week low of $46.07 and a 52 week high of $85.76. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.80 and a quick ratio of 1.24. The firm has a fifty day moving average of $68.29 and a two-hundred day moving average of $69.32. The stock has a market capitalization of $60.00 billion, a price-to-earnings ratio of -61.35, a P/E/G ratio of 2.99 and a beta of 1.47.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, May 30th. The semiconductor company reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. Marvell Technology had a positive return on equity of 4.51% and a negative net margin of 18.33%. The firm’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 earnings per share. On average, equities analysts anticipate that Marvell Technology, Inc. will post 0.75 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 12th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Friday, July 12th. Marvell Technology’s payout ratio is currently -21.24%.

About Marvell Technology

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.