2,796 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Purchased by PDS Planning Inc

PDS Planning Inc acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,796 shares of the semiconductor company’s stock, valued at approximately $202,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MRVL. Lazard Asset Management LLC lifted its stake in Marvell Technology by 47,934.4% in the first quarter. Lazard Asset Management LLC now owns 4,001,745 shares of the semiconductor company’s stock worth $283,643,000 after purchasing an additional 3,993,414 shares during the last quarter. Whale Rock Capital Management LLC bought a new stake in shares of Marvell Technology during the 1st quarter worth approximately $181,559,000. Ameriprise Financial Inc. lifted its stake in shares of Marvell Technology by 24.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock worth $812,509,000 after acquiring an additional 2,254,610 shares during the last quarter. Swedbank AB boosted its holdings in Marvell Technology by 653.5% during the 2nd quarter. Swedbank AB now owns 2,334,015 shares of the semiconductor company’s stock valued at $163,148,000 after acquiring an additional 2,024,269 shares during the period. Finally, Janus Henderson Group PLC grew its position in Marvell Technology by 13.4% in the 1st quarter. Janus Henderson Group PLC now owns 13,478,472 shares of the semiconductor company’s stock valued at $955,400,000 after acquiring an additional 1,591,874 shares during the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Marvell Technology

In other Marvell Technology news, CEO Matthew J. Murphy sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $73.29, for a total transaction of $439,740.00. Following the sale, the chief executive officer now owns 208,915 shares of the company’s stock, valued at approximately $15,311,380.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $66.75, for a total transaction of $100,125.00. Following the completion of the sale, the chief financial officer now owns 113,253 shares of the company’s stock, valued at approximately $7,559,637.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Matthew J. Murphy sold 6,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $73.29, for a total value of $439,740.00. Following the completion of the transaction, the chief executive officer now directly owns 208,915 shares in the company, valued at $15,311,380.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 261,000 shares of company stock valued at $20,330,835 in the last three months. 0.33% of the stock is owned by insiders.

Marvell Technology Trading Up 3.3 %

NASDAQ:MRVL opened at $87.19 on Wednesday. The stock has a market capitalization of $77.27 billion, a price-to-earnings ratio of -78.55, a PEG ratio of 3.68 and a beta of 1.44. Marvell Technology, Inc. has a 52 week low of $50.35 and a 52 week high of $87.99. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average of $75.60 and a 200 day moving average of $71.36.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the business posted $0.18 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.28%. Marvell Technology’s dividend payout ratio (DPR) is currently -21.62%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MRVL shares. Bank of America boosted their target price on shares of Marvell Technology from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Needham & Company LLC reissued a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. KeyCorp raised their target price on shares of Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 price target on shares of Marvell Technology in a report on Friday, August 30th. Finally, Citigroup reaffirmed a “buy” rating and set a $91.00 target price on shares of Marvell Technology in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $91.62.

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.