CAPROCK Group Inc. Invests $253,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

CAPROCK Group Inc. purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 4,336 shares of the semiconductor company’s stock, valued at approximately $253,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Clearview Wealth Advisors LLC bought a new position in Marvell Technology during the 2nd quarter worth $27,000. Deseret Mutual Benefit Administrators acquired a new stake in Marvell Technology in the 2nd quarter worth about $28,000. Delta Asset Management LLC TN bought a new stake in Marvell Technology in the 2nd quarter valued at about $29,000. Global Wealth Management Investment Advisory Inc. grew its position in shares of Marvell Technology by 400.0% during the 2nd quarter. Global Wealth Management Investment Advisory Inc. now owns 500 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 400 shares in the last quarter. Finally, Glassman Wealth Services bought a new position in shares of Marvell Technology during the second quarter worth approximately $33,000. Institutional investors and hedge funds own 84.98% of the company’s stock.

A number of equities analysts have commented on the company. Susquehanna Bancshares raised their price objective on Marvell Technology from $72.00 to $75.00 and gave the stock a “positive” rating in a research note on Thursday, October 7th. KeyCorp upped their price objective on shares of Marvell Technology from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, October 7th. Citigroup raised their target price on shares of Marvell Technology from $64.00 to $70.00 and gave the company a “buy” rating in a report on Friday, August 27th. Rosenblatt Securities upped their price target on shares of Marvell Technology from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, October 7th. Finally, Morgan Stanley lifted their price objective on shares of Marvell Technology from $61.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, October 7th. Four research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $74.83.

In other news, CEO Matthew J. Murphy sold 20,000 shares of the firm’s stock in a transaction dated Monday, August 16th. The stock was sold at an average price of $59.16, for a total value of $1,183,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael G. Strachan sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 10th. The shares were sold at an average price of $61.86, for a total value of $309,300.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,150 shares of company stock worth $2,749,725. 0.33% of the stock is owned by corporate insiders.

Shares of NASDAQ MRVL opened at $63.42 on Thursday. The firm has a 50 day moving average price of $61.40 and a two-hundred day moving average price of $54.80. The stock has a market cap of $52.23 billion, a P/E ratio of -132.13, a price-to-earnings-growth ratio of 3.23 and a beta of 1.07. Marvell Technology, Inc. has a 52-week low of $35.30 and a 52-week high of $67.19. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 1.50.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings data on Wednesday, August 25th. The semiconductor company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Marvell Technology had a negative net margin of 10.74% and a positive return on equity of 6.40%. During the same quarter in the previous year, the firm posted $0.21 earnings per share. Analysts predict that Marvell Technology, Inc. will post 0.92 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 27th. Stockholders of record on Monday, October 11th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend is Thursday, October 7th. Marvell Technology’s dividend payout ratio (DPR) is presently 41.38%.

About Marvell Technology

Marvell Technology, Inc engages in the provision of data infrastructure semiconductor solutions. It offers compute, networking, storage and custom related solutions. The company was founded in 1995 and is headquartered in Wilmington, DE.

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Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)

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