Assetmark Inc. Has $2.55 Million Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Assetmark Inc. lowered its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 4.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,328 shares of the semiconductor company’s stock after selling 1,763 shares during the quarter. Assetmark Inc.’s holdings in Marvell Technology were worth $2,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tradewinds LLC. increased its position in Marvell Technology by 0.7% during the 4th quarter. Tradewinds LLC. now owns 14,050 shares of the semiconductor company’s stock valued at $1,552,000 after purchasing an additional 101 shares during the period. Coldstream Capital Management Inc. increased its position in Marvell Technology by 1.0% during the 4th quarter. Coldstream Capital Management Inc. now owns 11,344 shares of the semiconductor company’s stock valued at $1,253,000 after purchasing an additional 116 shares during the period. Nicolet Advisory Services LLC increased its position in Marvell Technology by 3.1% during the 4th quarter. Nicolet Advisory Services LLC now owns 3,916 shares of the semiconductor company’s stock valued at $448,000 after purchasing an additional 118 shares during the period. Virtue Capital Management LLC increased its position in Marvell Technology by 2.1% during the 4th quarter. Virtue Capital Management LLC now owns 7,752 shares of the semiconductor company’s stock valued at $856,000 after purchasing an additional 163 shares during the period. Finally, Summit Financial LLC increased its position in Marvell Technology by 5.7% during the 4th quarter. Summit Financial LLC now owns 3,032 shares of the semiconductor company’s stock valued at $335,000 after purchasing an additional 164 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Trading Up 0.6%

Shares of MRVL opened at $76.34 on Wednesday. The business has a 50-day moving average of $70.21 and a 200 day moving average of $76.84. Marvell Technology, Inc. has a fifty-two week low of $47.08 and a fifty-two week high of $127.48. The firm has a market cap of $65.94 billion, a P/E ratio of -133.93, a price-to-earnings-growth ratio of 0.82 and a beta of 1.81. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 1.30.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the firm posted $0.24 EPS. The firm’s revenue for the quarter was up 63.3% on a year-over-year basis. As a group, research analysts forecast that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, July 11th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend is Friday, July 11th. Marvell Technology’s payout ratio is presently -42.11%.

Analyst Ratings Changes

A number of analysts have weighed in on MRVL shares. Melius Research increased their target price on shares of Marvell Technology from $67.00 to $76.00 and gave the company a “hold” rating in a research report on Wednesday, June 18th. Loop Capital cut their price target on Marvell Technology from $110.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, May 30th. Citigroup cut their price target on Marvell Technology from $122.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Needham & Company LLC cut Marvell Technology from a “buy” rating to a “cautious” rating in a report on Wednesday, July 16th. Finally, Raymond James Financial restated an “outperform” rating and set a $90.00 price target (down from $110.00) on shares of Marvell Technology in a report on Friday, May 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $94.47.

Insider Buying and Selling

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $65.10, for a total transaction of $390,600.00. Following the completion of the transaction, the chief operating officer owned 92,065 shares of the company’s stock, valued at $5,993,431.50. The trade was a 6.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark Casper sold 3,000 shares of Marvell Technology stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $72.35, for a total value of $217,050.00. Following the transaction, the executive vice president directly owned 17,163 shares of the company’s stock, valued at $1,241,743.05. The trade was a 14.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,934 shares of company stock worth $1,187,826 over the last quarter. 0.33% of the stock is owned by corporate insiders.

About Marvell Technology

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.