GPS Wealth Strategies Group LLC Has $1.21 Million Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

GPS Wealth Strategies Group LLC boosted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 932.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,644 shares of the semiconductor company’s stock after purchasing an additional 17,741 shares during the period. GPS Wealth Strategies Group LLC’s holdings in Marvell Technology were worth $1,210,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Invesco Ltd. raised its stake in shares of Marvell Technology by 30.1% in the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock valued at $1,784,649,000 after buying an additional 3,737,705 shares during the period. Janus Henderson Group PLC raised its holdings in Marvell Technology by 6.9% during the 4th quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company’s stock valued at $1,462,274,000 after acquiring an additional 857,087 shares during the period. Wellington Management Group LLP lifted its position in shares of Marvell Technology by 43.1% during the fourth quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock worth $1,374,252,000 after acquiring an additional 3,747,982 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Marvell Technology by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company’s stock valued at $1,263,755,000 after purchasing an additional 80,005 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Marvell Technology during the 4th quarter valued at $1,138,354,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Price Performance

NASDAQ MRVL opened at $68.24 on Thursday. The company has a 50-day moving average price of $59.59 and a 200-day moving average price of $85.54. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $58.95 billion, a P/E ratio of -40.14, a PEG ratio of 1.61 and a beta of 1.76. Marvell Technology, Inc. has a 52 week low of $47.09 and a 52 week high of $127.48.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings results 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 negative net margin of 27.49% and a positive return on equity of 4.59%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the firm earned $0.24 earnings per share. The company’s quarterly revenue was up 63.3% on a year-over-year basis. Equities research analysts anticipate that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.35%. Marvell Technology’s dividend payout ratio (DPR) is presently -42.11%.

Insider Buying and Selling at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $103,245.00. Following the transaction, the chief financial officer now directly owns 113,592 shares of the company’s stock, valued at $7,818,537.36. The trade was a 1.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $412,980.00. Following the sale, the chief operating officer now owns 81,931 shares in the company, valued at approximately $5,639,310.73. The trade was a 6.82% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,541 shares of company stock valued at $2,079,948. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on MRVL. Wells Fargo & Company reduced their price objective on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a research note on Friday, May 30th. China Renaissance assumed coverage on shares of Marvell Technology in a research note on Thursday, June 5th. They issued a “buy” rating and a $110.00 target price on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $124.00 target price on shares of Marvell Technology in a report on Friday, May 30th. Piper Sandler restated an “overweight” rating and issued a $85.00 price objective (down previously from $95.00) on shares of Marvell Technology in a report on Friday, May 30th. Finally, Susquehanna cut their price objective on shares of Marvell Technology from $110.00 to $90.00 and set a “positive” rating on the stock in a research report on Tuesday, May 27th. Seven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average price target of $94.73.

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.