L & S Advisors Inc Increases Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

L & S Advisors Inc raised its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 12.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 17,043 shares of the semiconductor company’s stock after purchasing an additional 1,912 shares during the quarter. L & S Advisors Inc’s holdings in Marvell Technology were worth $1,191,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Bruce G. Allen Investments LLC raised its holdings 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 valued at $28,000 after buying an additional 141 shares during the last quarter. Salomon & Ludwin LLC bought a new position in shares of Marvell Technology during the first quarter valued at about $31,000. Optimum Investment Advisors purchased a new stake in shares of Marvell Technology during the first quarter worth about $35,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Marvell Technology in the first quarter worth about $35,000. Finally, Bogart Wealth LLC increased its holdings in Marvell Technology by 1,480.0% during the 1st quarter. Bogart Wealth LLC now owns 632 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 592 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 price objective on shares of Marvell Technology in a report on Friday, August 30th. Evercore ISI lifted their price target on shares of Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a report on Friday, August 30th. The Goldman Sachs Group upped their price objective on shares of Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Barclays boosted their price target 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, Morgan Stanley raised their price objective on shares of Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. Two analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.62.

Insider Buying and Selling

In other Marvell Technology news, Director Ford Tamer sold 92,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $74.16, for a total transaction of $6,822,720.00. Following the transaction, the director now owns 351,193 shares in the company, valued at approximately $26,044,472.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $66.75, for a total value of $100,125.00. Following the completion of the sale, the chief financial officer now owns 113,253 shares of the company’s stock, valued at $7,559,637.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ford Tamer sold 92,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $74.16, for a total value of $6,822,720.00. Following the sale, the director now owns 351,193 shares of the company’s stock, valued at approximately $26,044,472.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 160,000 shares of company stock worth $11,878,785. 0.33% of the stock is owned by corporate insiders.

Marvell Technology Stock Down 0.9 %

Shares of Marvell Technology stock opened at $72.77 on Wednesday. The company has a 50-day simple moving average of $68.23 and a two-hundred day simple moving average of $69.80. The stock has a market capitalization of $62.99 billion, a PE ratio of -64.40, a price-to-earnings-growth ratio of 3.29 and a beta of 1.46. Marvell Technology, Inc. has a 52-week low of $46.07 and a 52-week high of $85.76. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter last year, the firm earned $0.18 earnings per share. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, analysts anticipate that Marvell Technology, Inc. will post 0.77 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

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

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.