Dakota Wealth Management Boosts Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Dakota Wealth Management grew its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 2.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,646 shares of the semiconductor company’s stock after acquiring an additional 343 shares during the quarter. Dakota Wealth Management’s holdings in Marvell Technology were worth $912,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of MRVL. Wealthcare Advisory Partners LLC boosted its position in shares of Marvell Technology by 5.4% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 6,928 shares of the semiconductor company’s stock valued at $491,000 after acquiring an additional 356 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Marvell Technology by 3.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 47,290 shares of the semiconductor company’s stock valued at $3,352,000 after acquiring an additional 1,501 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of Marvell Technology by 39.0% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 8,151 shares of the semiconductor company’s stock valued at $578,000 after acquiring an additional 2,286 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in shares of Marvell Technology during the 1st quarter valued at about $13,291,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Marvell Technology by 2.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,162,351 shares of the semiconductor company’s stock valued at $153,267,000 after acquiring an additional 47,855 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling

In related news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the sale, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at $8,823,637.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the sale, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at $8,823,637.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew J. Murphy purchased 13,000 shares of Marvell Technology stock in a transaction that occurred on Monday, October 14th. The stock was purchased at an average cost of $77.63 per share, for a total transaction of $1,009,190.00. Following the completion of the purchase, the chief executive officer now owns 221,915 shares of the company’s stock, valued at $17,227,261.45. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 261,000 shares of company stock valued at $20,330,835 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MRVL shares. TD Cowen upgraded Marvell Technology to a “strong-buy” rating in a research report on Monday, September 16th. Roth Mkm restated a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. Barclays boosted their target price on 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 restated a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $95.00 target price (up previously from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, one has 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 presently has a consensus rating of “Moderate Buy” and an average target price of $91.62.

Marvell Technology Price Performance

MRVL opened at $81.61 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 52-week low of $46.07 and a 52-week high of $85.76. The stock has a market capitalization of $72.32 billion, a PE ratio of -73.52, a price-to-earnings-growth ratio of 3.62 and a beta of 1.45. The stock’s 50 day moving average price is $73.67 and its 200-day moving average price is $70.54.

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

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be paid a $0.06 dividend. The ex-dividend date is Friday, October 11th. This represents a $0.24 annualized dividend and a yield of 0.29%. Marvell Technology’s payout ratio is -21.62%.

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.