First Hawaiian Bank Has $566,000 Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

First Hawaiian Bank reduced its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 2.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 8,100 shares of the semiconductor company’s stock after selling 186 shares during the quarter. First Hawaiian Bank’s holdings in Marvell Technology were worth $566,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bruce G. Allen Investments LLC raised its position 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 valued at $28,000 after purchasing an additional 141 shares during the period. Oliver Lagore Vanvalin Investment Group grew its holdings 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 purchasing an additional 165 shares in the last quarter. Salomon & Ludwin LLC bought a new stake in Marvell Technology during the first quarter worth about $31,000. Optimum Investment Advisors bought a new position in Marvell Technology in the 1st quarter valued at about $35,000. Finally, Mark Sheptoff Financial Planning LLC acquired a new position in Marvell Technology during the first quarter valued at approximately $35,000. Institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MRVL shares. Barclays upped their target price on Marvell Technology from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, May 31st. Morgan Stanley lifted their target price on Marvell Technology from $71.00 to $77.00 and gave the stock an “equal weight” rating in a report on Friday, May 31st. Stifel Nicolaus lifted their price target on shares of Marvell Technology from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Needham & Company LLC reiterated a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a report on Friday, May 31st. Finally, Oppenheimer reiterated an “outperform” rating and set a $90.00 price target (up previously from $80.00) on shares of Marvell Technology in a research note on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus price target of $85.50.

Marvell Technology Price Performance

NASDAQ MRVL traded down $1.58 during trading on Monday, hitting $57.67. 14,023,180 shares of the stock traded hands, compared to its average volume of 12,664,956. The company has a market capitalization of $49.92 billion, a P/E ratio of -51.04, a price-to-earnings-growth ratio of 2.99 and a beta of 1.47. Marvell Technology, Inc. has a 12-month low of $46.07 and a 12-month high of $85.76. The firm has a 50-day simple moving average of $70.22 and a 200-day simple moving average of $69.87. 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 (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share for the quarter, hitting 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 analysts’ expectations of $1.15 billion. During the same period in the previous year, the firm posted $0.17 earnings per share. The firm’s revenue for the quarter was down 12.2% on a year-over-year basis. As a group, analysts predict that Marvell Technology, Inc. will post 0.75 EPS for the current year.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Friday, July 12th. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $73.88, for a total value of $110,820.00. Following the completion of the sale, the chief financial officer now directly owns 109,318 shares of the company’s stock, valued at approximately $8,076,413.84. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Muhammad Raghib Hussain sold 50,000 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $75.00, for a total value of $3,750,000.00. Following the sale, the insider now directly owns 838,571 shares in the company, valued at approximately $62,892,825. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $73.88, for a total transaction of $110,820.00. Following the transaction, the chief financial officer now owns 109,318 shares of the company’s stock, valued at approximately $8,076,413.84. The disclosure for this sale can be found here. Insiders have sold a total of 99,000 shares of company stock worth $7,190,745 over the last quarter. Company 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.