Alpha DNA Investment Management LLC Purchases Shares of 11,251 Marvell Technology, Inc. (NASDAQ:MRVL)

Alpha DNA Investment Management LLC acquired a new position in Marvell Technology, Inc. (NASDAQ:MRVL) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 11,251 shares of the semiconductor company’s stock, valued at approximately $786,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bruce G. Allen Investments LLC increased its stake in Marvell Technology by 56.4% in the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 141 shares during the period. Salomon & Ludwin LLC bought a new position in shares of Marvell Technology in the first quarter worth approximately $31,000. Optimum Investment Advisors purchased a new position in shares of Marvell Technology in the first quarter worth $35,000. Mark Sheptoff Financial Planning LLC bought a new stake in Marvell Technology during the 1st quarter valued at $35,000. Finally, Bogart Wealth LLC boosted its position 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 buying an additional 592 shares during the period. Institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on MRVL shares. Rosenblatt Securities upped their price objective on shares of Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a research report on Friday, August 30th. KeyCorp increased their price objective on Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Finally, Bank of America raised their price target on Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Two investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.62.

Insider Activity at Marvell Technology

In other news, insider Muhammad Raghib Hussain sold 50,000 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the sale, the insider now owns 838,571 shares of the company’s stock, valued at approximately $62,892,825. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $70.07, for a total transaction of $175,175.00. Following the completion of the sale, the executive vice president now owns 20,450 shares of the company’s stock, valued at approximately $1,432,931.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Muhammad Raghib Hussain sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the sale, the insider now owns 838,571 shares of the company’s stock, valued at $62,892,825. The disclosure for this sale can be found here. In the last three months, insiders have sold 160,000 shares of company stock valued at $11,878,785. 0.33% of the stock is owned by corporate insiders.

Marvell Technology Stock Performance

MRVL stock opened at $71.20 on Wednesday. The business has a 50 day moving average of $68.07 and a 200 day moving average of $69.51. Marvell Technology, Inc. has a twelve month low of $46.07 and a twelve month high of $85.76. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28.

Marvell Technology (NASDAQ:MRVL) last issued 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. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The company’s revenue was down 5.1% on a year-over-year basis. During the same period last year, the company earned $0.18 earnings per share. Analysts predict that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be paid a $0.06 dividend. The ex-dividend date is Friday, October 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.34%. Marvell Technology’s dividend payout ratio is presently -21.24%.

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.