Capital Performance Advisors LLP Takes Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Capital Performance Advisors LLP bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 996 shares of the semiconductor company’s stock, valued at approximately $72,000.

Several other hedge funds have also recently bought and sold shares of MRVL. Envestnet Portfolio Solutions Inc. boosted its position in shares of Marvell Technology by 11.7% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 71,927 shares of the semiconductor company’s stock worth $5,098,000 after buying an additional 7,530 shares during the period. Atomi Financial Group Inc. grew its position in Marvell Technology by 8.1% in the first quarter. Atomi Financial Group Inc. now owns 4,380 shares of the semiconductor company’s stock valued at $310,000 after acquiring an additional 328 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in shares of Marvell Technology during the first quarter valued at approximately $308,000. Sei Investments Co. lifted its position in shares of Marvell Technology by 4.0% during the first quarter. Sei Investments Co. now owns 542,916 shares of the semiconductor company’s stock worth $38,482,000 after purchasing an additional 21,128 shares in the last quarter. Finally, NorthRock Partners LLC boosted its stake in shares of Marvell Technology by 87.1% in the first quarter. NorthRock Partners LLC now owns 11,107 shares of the semiconductor company’s stock valued at $787,000 after purchasing an additional 5,172 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.77, for a total transaction of $484,620.00. Following the completion of the transaction, the executive vice president now owns 109,244 shares in the company, valued at approximately $8,823,637.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $66.75, for a total transaction of $100,125.00. Following the sale, the chief financial officer now directly owns 113,253 shares in the company, valued at approximately $7,559,637.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the completion of the transaction, the executive vice president now owns 109,244 shares of the company’s stock, valued at $8,823,637.88. 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. 0.33% of the stock is owned by company insiders.

Marvell Technology Price Performance

Shares of MRVL opened at $93.80 on Friday. Marvell Technology, Inc. has a 12 month low of $50.35 and a 12 month high of $95.09. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. The stock has a fifty day moving average price of $76.88 and a 200 day moving average price of $71.92. The company has a market cap of $83.13 billion, a P/E ratio of -84.50, a PEG ratio of 3.94 and a beta of 1.44.

Marvell Technology (NASDAQ:MRVL) last released 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. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 earnings per share. On average, research analysts forecast that Marvell Technology, Inc. will post 0.78 earnings per share for the current year.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were given a dividend of $0.06 per share. The ex-dividend date was Friday, October 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.26%. Marvell Technology’s dividend payout ratio is presently -21.62%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Citigroup reiterated a “buy” rating and issued a $91.00 price objective on shares of Marvell Technology in a report on Monday, October 14th. Barclays raised their price objective on Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Bank of America upped their target price on Marvell Technology from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Benchmark raised their price target on shares of Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $100.00 price target on shares of Marvell Technology in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.62.

Marvell Technology 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.