Dynamic Technology Lab Private Ltd Takes $516,000 Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Dynamic Technology Lab Private Ltd purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 7,148 shares of the semiconductor company’s stock, valued at approximately $516,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Davis R M Inc. grew its position in Marvell Technology by 3.6% during the 3rd quarter. Davis R M Inc. now owns 605,335 shares of the semiconductor company’s stock worth $43,657,000 after acquiring an additional 21,098 shares during the last quarter. Fisher Asset Management LLC grew its position in Marvell Technology by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 2,203,310 shares of the semiconductor company’s stock worth $158,903,000 after acquiring an additional 56,606 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Marvell Technology by 15.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 133,517 shares of the semiconductor company’s stock worth $9,629,000 after acquiring an additional 17,415 shares during the last quarter. Summit Trail Advisors LLC grew its position in Marvell Technology by 6.4% during the 3rd quarter. Summit Trail Advisors LLC now owns 6,178 shares of the semiconductor company’s stock worth $446,000 after acquiring an additional 373 shares during the last quarter. Finally, Cerity Partners LLC grew its position in Marvell Technology by 84.3% during the 3rd quarter. Cerity Partners LLC now owns 61,016 shares of the semiconductor company’s stock worth $4,401,000 after acquiring an additional 27,902 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Insider Activity

In other news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the completion of the transaction, the chief financial officer now directly owns 114,211 shares of the company’s stock, valued at $10,180,768.54. This represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Monday, October 21st. The shares were sold at an average price of $80.77, for a total value of $484,620.00. Following the transaction, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at approximately $8,823,637.88. This trade represents a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 267,000 shares of company stock valued at $20,899,260 over the last three months. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 price target on shares of Marvell Technology in a research report on Friday, August 30th. Bank of America upped their price target on Marvell Technology from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Citigroup reiterated a “buy” rating and issued a $91.00 price target on shares of Marvell Technology in a research report on Monday, October 14th. Barclays upped their price target on Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Finally, Susquehanna upped their price target on Marvell Technology from $95.00 to $110.00 and gave the company a “positive” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and a consensus target price of $95.39.

Marvell Technology Stock Performance

Shares of Marvell Technology stock opened at $92.69 on Friday. The company has a market cap of $82.14 billion, a PE ratio of -83.50, a price-to-earnings-growth ratio of 3.92 and a beta of 1.44. Marvell Technology, Inc. has a 52 week low of $50.35 and a 52 week high of $95.55. The business has a 50 day moving average price of $82.13 and a 200-day moving average price of $74.16. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.18 earnings per share. Equities analysts anticipate that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

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