Cranbrook Wealth Management LLC Purchases Shares of 3,432 Marvell Technology, Inc. (NASDAQ:MRVL)

Cranbrook Wealth Management LLC purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the second quarter, HoldingsChannel.com reports. The fund purchased 3,432 shares of the semiconductor company’s stock, valued at approximately $240,000.

Several other large investors have also modified their holdings of the company. Bruce G. Allen Investments LLC lifted its position in Marvell Technology by 56.4% during 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. Salomon & Ludwin LLC bought a new position in shares of Marvell Technology in the first quarter worth about $31,000. Optimum Investment Advisors acquired a new position in shares of Marvell Technology during the 1st quarter worth about $35,000. Mark Sheptoff Financial Planning LLC bought a new stake in Marvell Technology during the 1st quarter valued at approximately $35,000. Finally, Bogart Wealth LLC grew its holdings in Marvell Technology by 1,480.0% in the 1st quarter. Bogart Wealth LLC now owns 632 shares of the semiconductor company’s stock valued at $45,000 after buying an additional 592 shares during the last quarter. 83.51% of the stock is owned by institutional investors.

Marvell Technology Stock Down 1.5 %

Shares of MRVL opened at $73.40 on Tuesday. The company has a market capitalization of $63.54 billion, a P/E ratio of -64.96, a PEG ratio of 3.29 and a beta of 1.46. Marvell Technology, Inc. has a one year low of $46.07 and a one year high of $85.76. The business’s 50 day simple moving average is $68.23 and its 200-day simple moving average is $69.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The business’s revenue was down 5.1% on a year-over-year basis. As a group, sell-side analysts predict that Marvell Technology, Inc. will post 0.77 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.33%. The ex-dividend date is Friday, October 11th. Marvell Technology’s payout ratio is presently -21.24%.

Insiders Place Their Bets

In other news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $66.75, for a total transaction of $100,125.00. Following the sale, the chief financial officer now directly owns 113,253 shares of the company’s stock, valued at $7,559,637.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Ford Tamer sold 92,000 shares of Marvell Technology stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $74.16, for a total value of $6,822,720.00. Following the completion of the sale, the director now directly owns 351,193 shares in the company, valued at $26,044,472.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $66.75, for a total transaction of $100,125.00. Following the completion of the transaction, the chief financial officer now directly owns 113,253 shares in the company, valued at approximately $7,559,637.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 152,500 shares of company stock valued at $11,328,240. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

MRVL has been the subject of a number of research analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $95.00 price target (up from $90.00) on shares of Marvell Technology in a report on Friday, August 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 price target on shares of Marvell Technology in a report on Friday, August 30th. The Goldman Sachs Group raised their price target on shares of Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Barclays upped their price objective on shares of Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Finally, B. Riley lifted their target price on Marvell Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus target price of $91.62.

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.