Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Quest Partners LLC

Quest Partners LLC increased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1,181.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,128 shares of the semiconductor company’s stock after buying an additional 1,040 shares during the period. Quest Partners LLC’s holdings in Marvell Technology were worth $79,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in MRVL. Bruce G. Allen Investments LLC grew its position in shares of Marvell Technology by 56.4% in the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 141 shares during the period. Salomon & Ludwin LLC purchased a new position in Marvell Technology in the 1st quarter valued at about $31,000. Optimum Investment Advisors acquired a new stake in Marvell Technology in the 1st quarter worth about $35,000. Mark Sheptoff Financial Planning LLC purchased a new stake in Marvell Technology during the 1st quarter worth approximately $35,000. Finally, Bogart Wealth LLC raised its holdings in shares of Marvell Technology by 1,480.0% during the first quarter. Bogart Wealth LLC now owns 632 shares of the semiconductor company’s stock valued at $45,000 after acquiring an additional 592 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research report on Wednesday. TD Cowen upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Monday. Barclays boosted their price target on shares of Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Needham & Company LLC reiterated a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a report on Friday, August 30th. Finally, Piper Sandler restated an “overweight” rating and set a $100.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Two investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.62.

Insider Activity

In other Marvell Technology news, insider Muhammad Raghib Hussain sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the sale, the insider now owns 838,571 shares of the company’s stock, valued at $62,892,825. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Marvell Technology news, insider Muhammad Raghib Hussain sold 50,000 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the transaction, the insider now owns 838,571 shares of the company’s stock, valued at $62,892,825. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $73.87, for a total value of $110,805.00. Following the completion of the sale, the chief financial officer now directly owns 111,753 shares of the company’s stock, valued at $8,255,194.11. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 160,000 shares of company stock worth $11,878,785. 0.33% of the stock is currently owned by insiders.

Marvell Technology Trading Down 0.9 %

NASDAQ:MRVL opened at $72.77 on Wednesday. Marvell Technology, Inc. has a 12-month low of $46.07 and a 12-month high of $85.76. The firm has a market cap of $62.99 billion, a PE ratio of -64.40, a price-to-earnings-growth ratio of 3.29 and a beta of 1.46. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. The stock has a fifty day moving average price of $68.23 and a 200 day moving average price of $69.80.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the business posted $0.18 EPS. The firm’s revenue was down 5.1% on a year-over-year basis. Sell-side analysts anticipate that Marvell Technology, Inc. will post 0.77 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, October 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.33%. Marvell Technology’s dividend payout ratio is currently -21.24%.

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.