Edgestream Partners L.P. Has $1.75 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Edgestream Partners L.P. grew its holdings in Marvell Technology, Inc. (NASDAQ:MRVLGet Rating) by 430.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,111 shares of the semiconductor company’s stock after acquiring an additional 32,544 shares during the quarter. Edgestream Partners L.P.’s holdings in Marvell Technology were worth $1,746,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Waldron Private Wealth LLC bought a new stake in shares of Marvell Technology in the first quarter valued at approximately $218,000. Venture Visionary Partners LLC bought a new stake in shares of Marvell Technology in the second quarter valued at approximately $56,000. Equitable Trust Co. bought a new position in Marvell Technology in the first quarter worth $210,000. Visionary Wealth Advisors lifted its position in Marvell Technology by 56.0% in the first quarter. Visionary Wealth Advisors now owns 4,151 shares of the semiconductor company’s stock worth $298,000 after purchasing an additional 1,490 shares during the period. Finally, Gilbert & Cook Inc. lifted its position in Marvell Technology by 9.2% in the second quarter. Gilbert & Cook Inc. now owns 7,021 shares of the semiconductor company’s stock worth $306,000 after purchasing an additional 589 shares during the period. 80.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Marvell Technology news, EVP Mitchell Gaynor sold 5,000 shares of the firm’s stock in a transaction dated Saturday, October 15th. The stock was sold at an average price of $39.61, for a total transaction of $198,050.00. Following the transaction, the executive vice president now owns 103,429 shares in the company, valued at $4,096,822.69. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Marvell Technology news, EVP Nariman Yousefi sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $45.00, for a total transaction of $450,000.00. Following the transaction, the executive vice president now owns 274,144 shares in the company, valued at $12,336,480. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Mitchell Gaynor sold 5,000 shares of Marvell Technology stock in a transaction dated Saturday, October 15th. The shares were sold at an average price of $39.61, for a total value of $198,050.00. Following the transaction, the executive vice president now owns 103,429 shares in the company, valued at approximately $4,096,822.69. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,000 shares of company stock worth $886,800. Insiders own 0.45% of the company’s stock.

Marvell Technology Price Performance

Shares of MRVL stock opened at $43.68 on Thursday. The stock has a 50-day moving average price of $41.79 and a 200 day moving average price of $48.12. The company has a current ratio of 1.35, a quick ratio of 0.93 and a debt-to-equity ratio of 0.25. Marvell Technology, Inc. has a 12 month low of $35.30 and a 12 month high of $93.85.

Marvell Technology (NASDAQ:MRVLGet Rating) last announced its quarterly earnings data on Thursday, August 25th. The semiconductor company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.52 billion. Marvell Technology had a positive return on equity of 7.94% and a negative net margin of 3.95%. The company’s revenue was up 41.0% on a year-over-year basis. During the same period last year, the company earned $0.21 earnings per share. As a group, analysts predict that Marvell Technology, Inc. will post 1.6 EPS for the current year.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 26th. Shareholders of record on Friday, October 7th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Thursday, October 6th. Marvell Technology’s dividend payout ratio (DPR) is currently -92.31%.

Wall Street Analyst Weigh In

MRVL has been the subject of several research reports. KeyCorp reduced their target price on Marvell Technology from $90.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, August 26th. StockNews.com initiated coverage on Marvell Technology in a research report on Wednesday, October 12th. They issued a “sell” rating for the company. B. Riley reduced their target price on Marvell Technology from $63.00 to $52.00 and set a “neutral” rating for the company in a research report on Tuesday, October 4th. Stifel Nicolaus dropped their price objective on Marvell Technology from $78.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, September 29th. Finally, Exane BNP Paribas assumed coverage on Marvell Technology in a research note on Tuesday, September 13th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $77.14.

About Marvell Technology

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Marvell Technology, Inc, together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors.

Further Reading

Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)

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