Arkadios Wealth Advisors Invests $408,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Arkadios Wealth Advisors purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,840 shares of the semiconductor company’s stock, valued at approximately $408,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HB Wealth Management LLC raised its holdings in Marvell Technology by 51.5% during the 2nd quarter. HB Wealth Management LLC now owns 15,297 shares of the semiconductor company’s stock valued at $1,069,000 after buying an additional 5,203 shares during the last quarter. Kintegral Advisory LLC raised its holdings in Marvell Technology by 2.0% during the 2nd quarter. Kintegral Advisory LLC now owns 12,710 shares of the semiconductor company’s stock valued at $888,000 after buying an additional 250 shares during the last quarter. Breakwater Capital Group raised its holdings in Marvell Technology by 4.7% during the 2nd quarter. Breakwater Capital Group now owns 7,809 shares of the semiconductor company’s stock valued at $546,000 after buying an additional 350 shares during the last quarter. Argonautica Private Wealth Management Inc. increased its position in Marvell Technology by 6.4% during the 2nd quarter. Argonautica Private Wealth Management Inc. now owns 4,622 shares of the semiconductor company’s stock valued at $323,000 after purchasing an additional 280 shares during the period. Finally, Checchi Capital Advisers LLC increased its position in Marvell Technology by 6.7% during the 2nd quarter. Checchi Capital Advisers LLC now owns 4,359 shares of the semiconductor company’s stock valued at $305,000 after purchasing an additional 274 shares during the period. 83.51% of the stock is currently owned by institutional investors.

Insider Activity at Marvell Technology

In other 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 directly owns 113,253 shares of the company’s stock, valued at $7,559,637.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Daniel Durn acquired 1,425 shares of Marvell Technology stock in a transaction on Monday, June 24th. The stock was bought at an average price of $70.21 per share, for a total transaction of $100,049.25. Following the completion of the purchase, the director now owns 1,923 shares in the company, valued at $135,013.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $66.75, for a total transaction of $100,125.00. Following the completion of the transaction, the chief financial officer now owns 113,253 shares in the company, valued at $7,559,637.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,500 shares of company stock worth $4,872,620. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

NASDAQ MRVL traded up $3.50 on Friday, hitting $73.34. 12,412,709 shares of the company’s stock traded hands, compared to its average volume of 12,461,162. The firm has a market capitalization of $63.48 billion, a PE ratio of -64.90, a P/E/G ratio of 2.99 and a beta of 1.47. Marvell Technology, Inc. has a 1-year low of $46.07 and a 1-year high of $85.76. The firm’s 50-day moving average price is $67.86 and its two-hundred day moving average price is $69.42. The company has a current ratio of 1.80, a quick ratio of 1.24 and a debt-to-equity ratio of 0.28.

Marvell Technology (NASDAQ:MRVL) last posted its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Marvell Technology had a negative net margin of 18.33% and a positive return on equity of 4.51%. The business’s revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.18 EPS. As a group, analysts expect that Marvell Technology, Inc. will post 0.75 EPS for the current year.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.33%. The ex-dividend date was Friday, July 12th. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

Wall Street Analyst Weigh In

MRVL has been the topic of a number of research analyst reports. Barclays boosted their price objective on shares of Marvell Technology from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, May 31st. KeyCorp boosted their price objective on shares of Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. The Goldman Sachs Group upped their target price on shares of Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday. Roth Mkm reaffirmed a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research report on Friday. Finally, Evercore ISI upped their target price on shares of Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a research report on Friday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $88.45.

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.