Silicon Valley Capital Partners Increases Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Silicon Valley Capital Partners grew its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 254.6% during the third quarter, HoldingsChannel reports. The firm owned 32,978 shares of the semiconductor company’s stock after acquiring an additional 23,678 shares during the period. Silicon Valley Capital Partners’ holdings in Marvell Technology were worth $2,378,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MRVL. Salomon & Ludwin LLC acquired a new stake in shares of Marvell Technology in the 1st quarter worth $31,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Marvell Technology in the second quarter valued at about $32,000. Quarry LP acquired a new stake in Marvell Technology during the second quarter worth about $32,000. Mark Sheptoff Financial Planning LLC purchased a new position in Marvell Technology during the first quarter worth about $35,000. Finally, Whittier Trust Co. boosted its holdings in Marvell Technology by 74.5% in the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 210 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MRVL has been the subject of a number of recent analyst reports. Evercore ISI raised their price target on shares of Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. TD Cowen raised Marvell Technology to a “strong-buy” rating in a research note on Monday, September 16th. Rosenblatt Securities upped their price target on Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Citigroup reissued a “buy” rating and set a $91.00 price objective on shares of Marvell Technology in a research report on Monday, October 14th. Finally, The Goldman Sachs Group increased their target price on shares of Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and an average price target of $91.62.

Marvell Technology Stock Down 0.6 %

Marvell Technology stock opened at $84.22 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. Marvell Technology, Inc. has a fifty-two week low of $50.35 and a fifty-two week high of $87.28. The stock has a 50-day simple moving average of $74.94 and a 200-day simple moving average of $71.05. The company has a market capitalization of $74.64 billion, a P/E ratio of -76.37, a PEG ratio of 3.48 and a beta of 1.44.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The business’s revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 earnings per share. Equities research analysts expect that Marvell Technology, Inc. will post 0.78 earnings per share for the current year.

Marvell Technology Dividend Announcement

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

Insider Activity at Marvell Technology

In other Marvell Technology news, insider Muhammad Raghib Hussain sold 150,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the completion of the transaction, the insider now owns 694,487 shares in the company, valued at approximately $55,906,203.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Muhammad Raghib Hussain sold 150,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the sale, the insider now owns 694,487 shares of the company’s stock, valued at approximately $55,906,203.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Casper sold 2,500 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $70.83, for a total transaction of $177,075.00. Following the completion of the transaction, the executive vice president now directly owns 22,494 shares of the company’s stock, valued at approximately $1,593,250.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 261,000 shares of company stock worth $20,330,835 in the last three months. Insiders own 0.33% of the company’s stock.

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.