Onyx Bridge Wealth Group LLC Buys 344 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Onyx Bridge Wealth Group LLC raised its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 8.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,392 shares of the semiconductor company’s stock after buying an additional 344 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Marvell Technology were worth $307,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Diversified Trust Co bought a new stake in shares of Marvell Technology in the second quarter worth $932,000. Orion Portfolio Solutions LLC lifted its position in shares of Marvell Technology by 47.1% in the first quarter. Orion Portfolio Solutions LLC now owns 32,191 shares of the semiconductor company’s stock worth $2,282,000 after purchasing an additional 10,306 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of Marvell Technology by 157.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 772 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 472 shares in the last quarter. Hoylecohen LLC bought a new stake in shares of Marvell Technology in the fourth quarter worth $658,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Marvell Technology by 20.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 529,127 shares of the semiconductor company’s stock worth $37,505,000 after purchasing an additional 88,918 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In related news, Director Daniel Durn acquired 1,425 shares of Marvell Technology stock in a transaction dated Monday, June 24th. The stock was bought at an average price of $70.21 per share, with a total value of $100,049.25. Following the transaction, the director now directly owns 1,923 shares in the company, valued at approximately $135,013.83. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other Marvell Technology news, Director Daniel Durn purchased 1,425 shares of Marvell Technology stock in a transaction that occurred on Monday, June 24th. The stock was acquired at an average price of $70.21 per share, with a total value of $100,049.25. Following the transaction, the director now owns 1,923 shares in the company, valued at approximately $135,013.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Chris Koopmans sold 5,000 shares of Marvell Technology stock in a transaction on Monday, June 17th. The shares were sold at an average price of $73.42, for a total transaction of $367,100.00. Following the completion of the sale, the executive vice president now directly owns 115,318 shares of the company’s stock, valued at approximately $8,466,647.56. The disclosure for this sale can be found here. Insiders sold a total of 65,500 shares of company stock valued at $4,872,620 in the last quarter. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Trading Up 2.8 %

NASDAQ:MRVL traded up $1.93 on Wednesday, reaching $71.34. 9,312,481 shares of the stock traded hands, compared to its average volume of 12,522,267. The firm has a market capitalization of $61.75 billion, a price-to-earnings ratio of -61.42, a price-to-earnings-growth ratio of 2.99 and a beta of 1.47. The company’s 50 day moving average is $68.30 and its 200-day moving average is $69.38. The company has a current ratio of 1.80, a quick ratio of 1.24 and a debt-to-equity ratio of 0.28. Marvell Technology, Inc. has a 1-year low of $46.07 and a 1-year high of $85.76.

Marvell Technology (NASDAQ:MRVL) last released its earnings results on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates 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 company’s revenue for the quarter was down 12.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.17 EPS. Equities research analysts anticipate that Marvell Technology, Inc. will post 0.75 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 12th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Friday, July 12th. Marvell Technology’s dividend payout ratio (DPR) is -21.24%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. StockNews.com lowered shares of Marvell Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Oppenheimer reaffirmed an “outperform” rating and set a $90.00 price target (up from $80.00) on shares of Marvell Technology in a research report on Friday, May 31st. Jefferies Financial Group assumed coverage on shares of Marvell Technology in a research report on Monday, May 13th. They set a “buy” rating and a $85.00 price target on the stock. Evercore ISI upped their price target on shares of Marvell Technology from $88.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a research report on Friday, May 31st. One 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.50.

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.