Kovack Advisors Inc. Has $299,000 Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Kovack Advisors Inc. boosted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,222 shares of the semiconductor company’s stock after buying an additional 192 shares during the period. Kovack Advisors Inc.’s holdings in Marvell Technology were worth $299,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC grew its stake in shares of Marvell Technology by 56.4% in the first 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 in the last quarter. SJS Investment Consulting Inc. grew its stake in shares of Marvell Technology by 56.8% in the fourth quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 155 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Marvell Technology by 23.4% in the fourth quarter. Blue Trust Inc. now owns 817 shares of the semiconductor company’s stock valued at $45,000 after buying an additional 155 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Marvell Technology by 34.7% in the fourth quarter. Versant Capital Management Inc now owns 625 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 161 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. grew its stake in shares of Marvell Technology by 0.5% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 30,764 shares of the semiconductor company’s stock valued at $1,855,000 after buying an additional 162 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Summit Insights raised shares of Marvell Technology from a “hold” rating to a “buy” rating in a research report on Friday, March 8th. Roth Mkm reaffirmed a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research report on Friday, April 12th. KeyCorp reduced their price objective on shares of Marvell Technology from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, April 8th. Oppenheimer reaffirmed an “outperform” rating and set a $90.00 price objective (up from $80.00) on shares of Marvell Technology in a research report on Friday, May 31st. Finally, Needham & Company LLC reissued a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $85.00.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of Marvell Technology stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $73.42, for a total value of $367,100.00. Following the transaction, the executive vice president now owns 115,318 shares in the company, valued at $8,466,647.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $73.42, for a total transaction of $367,100.00. Following the sale, the executive vice president now directly owns 115,318 shares in the company, valued at $8,466,647.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $70.07, for a total value of $175,175.00. Following the completion of the sale, the executive vice president now owns 20,450 shares in the company, valued at $1,432,931.50. The disclosure for this sale can be found here. Insiders have sold a total of 81,000 shares of company stock worth $5,607,740 over the last 90 days. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

Marvell Technology stock opened at $72.20 on Friday. Marvell Technology, Inc. has a 12-month low of $46.07 and a 12-month high of $85.76. The company has a quick ratio of 1.24, a current ratio of 1.80 and a debt-to-equity ratio of 0.28. The business’s 50-day moving average price is $70.82 and its two-hundred day moving average price is $68.71. The stock has a market cap of $62.50 billion, a PE ratio of -63.89, a P/E/G ratio of 3.42 and a beta of 1.47.

Marvell Technology (NASDAQ:MRVL) last released its earnings results on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. Marvell Technology had a positive return on equity of 4.51% and a negative net margin of 18.33%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the business posted $0.17 earnings per share. The business’s revenue for the quarter was down 12.2% on a year-over-year basis. As a group, analysts expect that Marvell Technology, Inc. will post 0.75 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Friday, July 12th. Marvell Technology’s dividend payout ratio is presently -21.24%.

Marvell Technology declared that its board has initiated a share repurchase program on Thursday, March 7th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to repurchase up to 4.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.