Marvell Technology, Inc. (NASDAQ:MRVL) Short Interest Down 14.8% in July

Marvell Technology, Inc. (NASDAQ:MRVL) was the recipient of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totalling 37,390,000 shares, a decrease of 14.8% from the June 30th total of 43,900,000 shares. Based on an average daily volume of 10,800,000 shares, the short-interest ratio is presently 3.5 days.

Insider Activity at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $64.49, for a total transaction of $64,490.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Willem A. Meintjes sold 1,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $64.49, for a total transaction of $64,490.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $68.57, for a total value of $342,850.00. Following the transaction, the executive vice president now directly owns 119,719 shares of the company’s stock, valued at $8,209,131.83. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,000 shares of company stock valued at $7,255,235. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bruce G. Allen Investments LLC lifted 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 last quarter. Oliver Lagore Vanvalin Investment Group lifted its holdings 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 acquiring an additional 165 shares during the last quarter. Salomon & Ludwin LLC bought a new position in shares of Marvell Technology in the first quarter worth about $31,000. Optimum Investment Advisors bought a new position in shares of Marvell Technology in the first quarter worth about $35,000. Finally, Mark Sheptoff Financial Planning LLC bought a new position in shares of Marvell Technology in the first quarter worth about $35,000. Institutional investors own 83.51% of the company’s stock.

Analyst Ratings Changes

MRVL has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research report on Friday, May 31st. Barclays raised their price objective on Marvell Technology from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, May 31st. StockNews.com cut Marvell Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price objective on shares of Marvell Technology in a research report on Friday, May 31st. Finally, B. Riley lifted their price target on Marvell Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $85.50.

Marvell Technology Trading Down 1.9 %

Shares of Marvell Technology stock opened at $64.48 on Tuesday. The company has a market capitalization of $55.81 billion, a price-to-earnings ratio of -57.06, a PEG ratio of 3.11 and a beta of 1.47. The company has a quick ratio of 1.24, a current ratio of 1.80 and a debt-to-equity ratio of 0.28. Marvell Technology has a 12-month low of $46.07 and a 12-month high of $85.76. The firm’s 50-day moving average price is $71.15 and its two-hundred day moving average price is $69.94.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.24. The firm had revenue of $1.16 billion for 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 business’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 earnings per share. On average, analysts forecast that Marvell Technology will post 0.75 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $0.24 dividend on an annualized basis and a yield of 0.37%. Marvell Technology’s payout ratio is -21.24%.

Marvell Technology Company 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.