Focus Financial Network Inc. Has $365,000 Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Focus Financial Network Inc. increased its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 29.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,927 shares of the semiconductor company’s stock after buying an additional 1,362 shares during the period. Focus Financial Network Inc.’s holdings in Marvell Technology were worth $365,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MRVL. Foresight Capital Management Advisors Inc. grew its stake in shares of Marvell Technology by 5.3% during the first quarter. Foresight Capital Management Advisors Inc. now owns 4,468 shares of the semiconductor company’s stock worth $275,000 after buying an additional 226 shares during the last quarter. Bard Financial Services Inc. grew its stake in shares of Marvell Technology by 22.4% during the first quarter. Bard Financial Services Inc. now owns 3,995 shares of the semiconductor company’s stock worth $246,000 after buying an additional 730 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Marvell Technology by 8,128.6% during the first quarter. Assenagon Asset Management S.A. now owns 2,460,851 shares of the semiconductor company’s stock worth $151,515,000 after purchasing an additional 2,430,945 shares during the period. Avanza Fonder AB lifted its holdings in shares of Marvell Technology by 14.3% during the first quarter. Avanza Fonder AB now owns 83,536 shares of the semiconductor company’s stock worth $5,282,000 after purchasing an additional 10,421 shares during the period. Finally, Yousif Capital Management LLC lifted its holdings in shares of Marvell Technology by 8.4% during the first quarter. Yousif Capital Management LLC now owns 15,057 shares of the semiconductor company’s stock worth $927,000 after purchasing an additional 1,164 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $412,980.00. Following the completion of the transaction, the chief operating officer now directly owns 81,931 shares of the company’s stock, valued at $5,639,310.73. This represents a 6.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Panteha Dixon sold 1,430 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the completion of the sale, the chief accounting officer now owns 31,100 shares in the company, valued at $2,138,125. This represents a 4.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,541 shares of company stock valued at $2,079,948 over the last three months. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on MRVL. Citigroup decreased their target price on shares of Marvell Technology from $122.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Wells Fargo & Company dropped their price target on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a research note on Friday, May 30th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Marvell Technology from $100.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, May 30th. Stifel Nicolaus decreased their price target on shares of Marvell Technology from $115.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Finally, Susquehanna decreased their price target on shares of Marvell Technology from $110.00 to $90.00 and set a “positive” rating on the stock in a report on Tuesday, May 27th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average target price of $94.73.

Marvell Technology Stock Down 3.5%

MRVL opened at $67.19 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The stock has a market capitalization of $58.04 billion, a price-to-earnings ratio of -39.52, a price-to-earnings-growth ratio of 1.61 and a beta of 1.76. The business has a 50-day moving average of $60.30 and a two-hundred day moving average of $85.20. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48.

Marvell Technology (NASDAQ:MRVL) last issued its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. Marvell Technology had a positive return on equity of 4.59% and a negative net margin of 27.49%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the previous year, the business earned $0.24 EPS. The company’s revenue for the quarter was up 63.3% on a year-over-year basis. On average, research analysts expect that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.36%. Marvell Technology’s payout ratio is -42.11%.

Marvell Technology 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.