Marvell Technology, Inc. (NASDAQ:MRVL) Stock Position Boosted by Atomi Financial Group Inc.

Atomi Financial Group Inc. grew its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 204.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,340 shares of the semiconductor company’s stock after purchasing an additional 8,960 shares during the period. Atomi Financial Group Inc.’s holdings in Marvell Technology were worth $932,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. CWM LLC boosted its holdings in shares of Marvell Technology by 1.4% in the fourth quarter. CWM LLC now owns 14,289 shares of the semiconductor company’s stock worth $862,000 after buying an additional 200 shares during the period. Yousif Capital Management LLC lifted its position in shares of Marvell Technology by 2.4% in the fourth quarter. Yousif Capital Management LLC now owns 13,306 shares of the semiconductor company’s stock worth $802,000 after purchasing an additional 311 shares in the last quarter. Atria Wealth Solutions Inc. lifted its position in shares of Marvell Technology by 5.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 32,767 shares of the semiconductor company’s stock worth $1,976,000 after purchasing an additional 1,640 shares in the last quarter. Syon Capital LLC purchased a new stake in shares of Marvell Technology in the fourth quarter worth approximately $480,000. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Marvell Technology by 116.2% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 57,313 shares of the semiconductor company’s stock worth $3,457,000 after purchasing an additional 30,800 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Performance

MRVL traded up $0.89 during trading on Tuesday, reaching $69.71. 6,692,647 shares of the company’s stock were exchanged, compared to its average volume of 12,459,807. The business has a 50 day moving average price of $68.09 and a 200 day moving average price of $69.42. 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, Inc. has a fifty-two week low of $46.07 and a fifty-two week high of $85.76. The company has a market capitalization of $60.34 billion, a P/E ratio of -60.90, a PEG ratio of 2.99 and a beta of 1.47.

Marvell Technology (NASDAQ:MRVL) last announced 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. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Marvell Technology had a positive return on equity of 4.51% and a negative net margin of 18.33%. The company’s quarterly revenue was down 12.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.17 EPS. As a group, analysts predict that Marvell Technology, Inc. will post 0.75 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

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

Insiders Place Their Bets

In other news, Director Daniel Durn acquired 1,425 shares of the company’s stock in a transaction on Monday, June 24th. The stock was purchased at an average cost of $70.21 per share, with a total value of $100,049.25. Following the acquisition, the director now owns 1,923 shares of the company’s stock, valued at approximately $135,013.83. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Daniel Durn bought 1,425 shares of the firm’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 transaction, the director now owns 1,923 shares of the company’s stock, valued at $135,013.83. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $73.88, for a total value of $110,820.00. Following the transaction, the chief financial officer now owns 109,318 shares of the company’s stock, valued at $8,076,413.84. The disclosure for this sale can be found here. In the last three months, insiders sold 65,500 shares of company stock valued at $4,872,620. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 price target on shares of Marvell Technology in a research report on Friday, May 31st. StockNews.com lowered shares of Marvell Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Jefferies Financial Group began coverage on shares of Marvell Technology in a research report on Monday, May 13th. They issued a “buy” rating and a $85.00 price target for the company. Morgan Stanley raised their price objective on shares of Marvell Technology from $71.00 to $77.00 and gave the company an “equal weight” rating in a research report on Friday, May 31st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price objective on shares of Marvell Technology in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $86.05.

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.