Strengthening Families & Communities LLC Increases Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Strengthening Families & Communities LLC raised its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 8.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,428 shares of the semiconductor company’s stock after acquiring an additional 2,717 shares during the quarter. Strengthening Families & Communities LLC’s holdings in Marvell Technology were worth $2,411,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Braun Stacey Associates Inc. purchased a new stake in shares of Marvell Technology during the third quarter worth about $16,435,000. Atlanta Consulting Group Advisors LLC acquired a new position in Marvell Technology during the third quarter valued at approximately $272,000. Schear Investment Advisers LLC lifted its position in Marvell Technology by 3.0% during the third quarter. Schear Investment Advisers LLC now owns 26,532 shares of the semiconductor company’s stock valued at $1,913,000 after buying an additional 776 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Marvell Technology by 10.7% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 775,450 shares of the semiconductor company’s stock valued at $55,925,000 after purchasing an additional 75,211 shares during the period. Finally, Natixis Advisors LLC raised its stake in shares of Marvell Technology by 55.4% during the third quarter. Natixis Advisors LLC now owns 1,068,155 shares of the semiconductor company’s stock valued at $77,035,000 after purchasing an additional 380,876 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Trading Down 3.2 %

Shares of Marvell Technology stock opened at $87.83 on Monday. The stock has a market capitalization of $77.83 billion, a P/E ratio of -79.13, a price-to-earnings-growth ratio of 3.82 and a beta of 1.44. 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 company has a 50-day simple moving average of $78.89 and a 200 day simple moving average of $72.80. Marvell Technology, Inc. has a 12-month low of $50.35 and a 12-month high of $95.09.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings data 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 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 company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 EPS. Research analysts expect 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. Shareholders of record on Friday, October 11th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.27%. The ex-dividend date was Friday, October 11th. Marvell Technology’s payout ratio is presently -21.62%.

Insider Buying and Selling at Marvell Technology

In other news, insider Muhammad Raghib Hussain sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $12,075,000.00. Following the transaction, the insider now owns 694,487 shares of the company’s stock, valued at approximately $55,906,203.50. This trade represents a 17.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew J. Murphy sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $73.29, for a total transaction of $439,740.00. Following the transaction, the chief executive officer now directly owns 208,915 shares in the company, valued at $15,311,380.35. The trade was a 2.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 259,500 shares of company stock worth $20,230,710. 0.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on MRVL shares. TD Cowen upgraded shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, September 16th. Morgan Stanley upped their price objective on shares of Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. Stifel Nicolaus reiterated a “buy” rating and issued a $95.00 target price (up from $90.00) on shares of Marvell Technology in a report on Friday, August 30th. Evercore ISI raised their target price 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. Finally, StockNews.com cut shares of Marvell Technology from a “hold” rating to a “sell” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.77.

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.