Swiss National Bank Has $185.31 Million Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Swiss National Bank lifted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 0.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,569,403 shares of the semiconductor company’s stock after purchasing an additional 5,400 shares during the quarter. Swiss National Bank’s holdings in Marvell Technology were worth $185,305,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Atlanta Consulting Group Advisors LLC bought a new position in Marvell Technology during the third quarter worth about $272,000. Schear Investment Advisers LLC grew its stake in shares of Marvell Technology by 3.0% in the 3rd quarter. Schear Investment Advisers LLC now owns 26,532 shares of the semiconductor company’s stock valued at $1,913,000 after purchasing an additional 776 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Marvell Technology by 10.7% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 775,450 shares of the semiconductor company’s stock worth $55,925,000 after buying an additional 75,211 shares in the last quarter. Natixis Advisors LLC lifted its position in shares of Marvell Technology by 55.4% during the 3rd quarter. Natixis Advisors LLC now owns 1,068,155 shares of the semiconductor company’s stock worth $77,035,000 after buying an additional 380,876 shares during the period. Finally, Linscomb Wealth Inc. acquired a new stake in Marvell Technology in the 3rd quarter valued at $2,056,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Marvell Technology

In related news, Director Ford Tamer sold 92,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $74.16, for a total value of $6,822,720.00. Following the sale, the director now directly owns 351,193 shares of the company’s stock, valued at approximately $26,044,472.88. The trade was a 20.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $12,075,000.00. Following the transaction, the insider now directly owns 694,487 shares of the company’s stock, valued at $55,906,203.50. This represents a 17.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 259,500 shares of company stock valued at $20,230,710 over the last three months. 0.33% of the stock is currently owned by corporate insiders.

Marvell Technology Stock Performance

Shares of Marvell Technology stock opened at $87.83 on Monday. Marvell Technology, Inc. has a 52 week low of $50.35 and a 52 week high of $95.09. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. The stock has a market capitalization of $77.83 billion, a price-to-earnings ratio of -79.13, a PEG ratio of 3.82 and a beta of 1.44. The firm has a fifty day moving average of $78.89 and a two-hundred day moving average of $72.80.

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

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were issued a $0.06 dividend. The ex-dividend date was Friday, October 11th. This represents a $0.24 annualized dividend and a yield of 0.27%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.62%.

Analyst Ratings Changes

Several research firms have issued reports on MRVL. Stifel Nicolaus reiterated a “buy” rating and set a $95.00 price objective (up from $90.00) on shares of Marvell Technology in a research note on Friday, August 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. Bank of America boosted their price target on shares of Marvell Technology from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Roth Mkm reaffirmed a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.77.

About Marvell Technology

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.