Equitable Trust Co. Purchases 463 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Equitable Trust Co. increased its stake in Marvell Technology, Inc. (NASDAQ:MRVLFree Report) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,258 shares of the semiconductor company’s stock after acquiring an additional 463 shares during the period. Equitable Trust Co.’s holdings in Marvell Technology were worth $609,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MRVL. Moneta Group Investment Advisors LLC lifted its stake in shares of Marvell Technology by 118,898.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 62,452,538 shares of the semiconductor company’s stock valued at $2,313,242,000 after acquiring an additional 62,400,056 shares during the last quarter. Capital Research Global Investors increased its holdings in Marvell Technology by 13,107.9% during the 2nd quarter. Capital Research Global Investors now owns 32,634,677 shares of the semiconductor company’s stock valued at $1,950,859,000 after purchasing an additional 32,387,593 shares during the period. Matrix Capital Management Company LP purchased a new position in Marvell Technology during the 2nd quarter valued at about $510,085,000. BlackRock Inc. increased its holdings in Marvell Technology by 10.9% during the 2nd quarter. BlackRock Inc. now owns 58,468,789 shares of the semiconductor company’s stock valued at $3,495,264,000 after purchasing an additional 5,739,560 shares during the period. Finally, Norges Bank purchased a new position in shares of Marvell Technology during the 4th quarter worth approximately $188,566,000. Institutional investors own 83.32% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. UBS Group reduced their target price on Marvell Technology from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, December 1st. Evercore ISI reduced their target price on Marvell Technology from $70.00 to $60.00 in a report on Thursday, October 5th. KeyCorp cut their price target on Marvell Technology from $80.00 to $70.00 and set an “overweight” rating on the stock in a research note on Friday, December 1st. Morgan Stanley cut their price target on Marvell Technology from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Friday, December 1st. Finally, Citigroup upped their price target on Marvell Technology from $61.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, January 12th. Two investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.96.

View Our Latest Analysis on MRVL

Insider Buying and Selling

In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $65.26, for a total transaction of $326,300.00. Following the completion of the transaction, the executive vice president now owns 124,117 shares in the company, valued at $8,099,875.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Matthew J. Murphy sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $54.45, for a total value of $1,633,500.00. Following the completion of the sale, the chief executive officer now owns 839,287 shares in the company, valued at $45,699,177.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $65.26, for a total transaction of $326,300.00. Following the completion of the transaction, the executive vice president now directly owns 124,117 shares of the company’s stock, valued at approximately $8,099,875.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 200,000 shares of company stock worth $11,988,040. Corporate insiders own 0.45% of the company’s stock.

Marvell Technology Trading Down 1.9 %

Shares of MRVL stock opened at $68.83 on Wednesday. Marvell Technology, Inc. has a 12-month low of $36.64 and a 12-month high of $73.53. The company has a current ratio of 1.58, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. The stock’s 50-day moving average price is $60.59 and its 200-day moving average price is $57.63. The stock has a market capitalization of $59.50 billion, a price-to-earnings ratio of -105.89, a price-to-earnings-growth ratio of 10.75 and a beta of 1.52.

Marvell Technology (NASDAQ:MRVLGet Free Report) last issued its earnings results on Thursday, November 30th. The semiconductor company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.01. Marvell Technology had a positive return on equity of 5.20% and a negative net margin of 10.11%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the firm posted $0.41 earnings per share. The business’s revenue was down 7.7% compared to the same quarter last year. Equities research analysts predict that Marvell Technology, Inc. will post 0.85 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 5th will be given a $0.06 dividend. The ex-dividend date is Thursday, January 4th. This represents a $0.24 annualized dividend and a yield of 0.35%. Marvell Technology’s dividend payout ratio is currently -36.92%.

About Marvell Technology

(Free Report)

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops, scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.

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Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)

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