MetLife Investment Management LLC Has $1.31 Million Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

MetLife Investment Management LLC cut its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 2.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,139 shares of the semiconductor company’s stock after selling 395 shares during the quarter. MetLife Investment Management LLC’s holdings in Marvell Technology were worth $1,308,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Quarry LP acquired a new stake in shares of Marvell Technology during the 2nd quarter valued at about $32,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Marvell Technology during the 2nd quarter valued at about $32,000. Whittier Trust Co. lifted its holdings in shares of Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 210 shares during the last quarter. Briaud Financial Planning Inc acquired a new stake in shares of Marvell Technology during the 3rd quarter valued at about $43,000. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Marvell Technology by 125.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 336 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MRVL shares. Stifel Nicolaus reiterated a “buy” rating and set a $125.00 price target (up from $114.00) on shares of Marvell Technology in a report on Wednesday. Needham & Company LLC raised their price objective on Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays raised their price objective on Marvell Technology from $85.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday. Citigroup raised their price objective on Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Susquehanna raised their price objective on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $119.04.

Marvell Technology Trading Up 0.1 %

MRVL stock opened at $113.51 on Friday. The company has a market cap of $100.59 billion, a P/E ratio of -66.77, a PEG ratio of 4.15 and a beta of 1.46. Marvell Technology, Inc. has a twelve month low of $50.56 and a twelve month high of $119.88. 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 business has a fifty day moving average of $86.09 and a 200-day moving average of $75.57.

Marvell Technology Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 0.21%. Marvell Technology’s payout ratio is currently -14.12%.

Insider Transactions at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the completion of the sale, the executive vice president now owns 103,244 shares in the company, valued at $9,203,170.16. The trade was a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the company’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 completion of the sale, the insider now owns 694,487 shares of the company’s stock, valued at $55,906,203.50. This represents a 17.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 267,000 shares of company stock worth $20,899,260 over the last 90 days. 0.33% of the stock is owned by insiders.

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.