Juncture Wealth Strategies LLC Makes New Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Juncture Wealth Strategies LLC purchased a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,680 shares of the semiconductor company’s stock, valued at approximately $280,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in MRVL. Franklin Resources Inc. lifted its position in shares of Marvell Technology by 5.7% during the 4th quarter. Franklin Resources Inc. now owns 2,789,577 shares of the semiconductor company’s stock worth $103,326,000 after purchasing an additional 150,487 shares during the last quarter. Handelsbanken Fonder AB increased its stake in Marvell Technology by 4.1% during the first quarter. Handelsbanken Fonder AB now owns 225,134 shares of the semiconductor company’s stock valued at $9,748,000 after acquiring an additional 8,904 shares during the period. Krilogy Financial LLC increased its stake in Marvell Technology by 108.6% during the first quarter. Krilogy Financial LLC now owns 24,973 shares of the semiconductor company’s stock valued at $1,081,000 after acquiring an additional 13,000 shares during the period. B. Metzler seel. Sohn & Co. AG increased its stake in Marvell Technology by 44.2% during the first quarter. B. Metzler seel. Sohn & Co. AG now owns 65,490 shares of the semiconductor company’s stock valued at $2,836,000 after acquiring an additional 20,089 shares during the period. Finally, Amalgamated Bank increased its stake in Marvell Technology by 1.3% during the fourth quarter. Amalgamated Bank now owns 87,178 shares of the semiconductor company’s stock valued at $3,229,000 after acquiring an additional 1,081 shares during the period. Institutional investors and hedge funds own 83.32% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MRVL. Susquehanna boosted their price target on Marvell Technology from $60.00 to $70.00 and gave the company a “positive” rating in a research note on Wednesday, August 23rd. Morgan Stanley lowered their price target on Marvell Technology from $68.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Friday, August 25th. Bank of America lowered their price target on Marvell Technology from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, August 25th. JPMorgan Chase & Co. increased their target price on Marvell Technology from $60.00 to $70.00 in a report on Friday, May 26th. Finally, Wells Fargo & Company upped their price target on Marvell Technology from $54.00 to $65.00 in a research report on Friday, May 26th. Two equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.73.

Marvell Technology Stock Performance

Shares of MRVL opened at $54.78 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. Marvell Technology, Inc. has a 12-month low of $33.75 and a 12-month high of $67.99. The stock’s fifty day simple moving average is $60.02 and its 200-day simple moving average is $52.12.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, August 24th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. Marvell Technology had a positive return on equity of 6.13% and a negative net margin of 6.74%. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The firm’s revenue for the quarter was down 11.6% compared to the same quarter last year. Research analysts predict that Marvell Technology, Inc. will post 0.88 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Friday, October 6th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.44%. Marvell Technology’s payout ratio is -54.55%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, Director Michael G. Strachan sold 5,000 shares of the stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $65.45, for a total value of $327,250.00. Following the transaction, the director now owns 31,389 shares of the company’s stock, valued at $2,054,410.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Matthew J. Murphy sold 30,000 shares of the firm’s stock in a transaction dated Saturday, July 15th. The stock was sold at an average price of $64.13, for a total transaction of $1,923,900.00. Following the sale, the chief executive officer now owns 945,245 shares of the company’s stock, valued at $60,618,561.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael G. Strachan sold 5,000 shares of the firm’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $65.45, for a total value of $327,250.00. Following the sale, the director now directly owns 31,389 shares in the company, valued at approximately $2,054,410.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 114,434 shares of company stock valued at $6,901,231. 0.45% of the stock is currently owned by company insiders.

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, scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.