Rehmann Capital Advisory Group Invests $239,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Rehmann Capital Advisory Group bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,377 shares of the semiconductor company’s stock, valued at approximately $239,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. 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 worth $28,000 after acquiring an additional 141 shares during the last quarter. Trueblood Wealth Management LLC increased its stake in Marvell Technology by 3.2% in the 1st quarter. Trueblood Wealth Management LLC now owns 4,944 shares of the semiconductor company’s stock valued at $350,000 after buying an additional 152 shares during the last quarter. SJS Investment Consulting Inc. increased its stake in Marvell Technology by 56.8% in the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 155 shares during the last quarter. Blue Trust Inc. increased its stake in Marvell Technology by 23.4% in the 4th quarter. Blue Trust Inc. now owns 817 shares of the semiconductor company’s stock valued at $45,000 after buying an additional 155 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in Marvell Technology by 34.7% in the 4th quarter. Versant Capital Management Inc now owns 625 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 161 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on MRVL. Evercore ISI increased their price objective on shares of Marvell Technology from $88.00 to $91.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Oppenheimer reissued an “outperform” rating and set a $90.00 target price (up from $80.00) on shares of Marvell Technology in a research report on Friday, May 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a research report on Friday, May 31st. Citigroup reissued a “buy” rating and set a $91.00 target price on shares of Marvell Technology in a research report on Wednesday, March 27th. Finally, Barclays increased their target price on shares of Marvell Technology from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $85.24.

Marvell Technology Trading Up 1.3 %

Marvell Technology stock traded up $0.94 during mid-day trading on Wednesday, hitting $74.78. The company’s stock had a trading volume of 5,068,473 shares, compared to its average volume of 12,791,418. 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 stock has a market cap of $64.73 billion, a price-to-earnings ratio of -66.30, a price-to-earnings-growth ratio of 3.55 and a beta of 1.47. The business has a 50 day moving average price of $71.15 and a 200-day moving average price of $69.14. Marvell Technology, Inc. has a 12 month low of $46.07 and a 12 month high of $85.76.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. Marvell Technology had a negative net margin of 18.33% and a positive return on equity of 4.51%. The firm’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.17 earnings per share. As a group, analysts forecast that Marvell Technology, Inc. will post 0.75 EPS for the current year.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 12th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Friday, July 12th. Marvell Technology’s dividend payout ratio (DPR) is -21.24%.

Insider Activity

In other news, CEO Matthew J. Murphy sold 30,000 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $68.82, for a total transaction of $2,064,600.00. Following the completion of the transaction, the chief executive officer now directly owns 716,545 shares of the company’s stock, valued at $49,312,626.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $71.25, for a total transaction of $356,250.00. Following the transaction, the executive vice president now owns 109,117 shares in the company, valued at $7,774,586.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew J. Murphy sold 30,000 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $68.82, for a total transaction of $2,064,600.00. Following the transaction, the chief executive officer now owns 716,545 shares in the company, valued at approximately $49,312,626.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 131,000 shares of company stock valued at $9,357,740. Insiders own 0.33% of the company’s stock.

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.