Natixis Advisors LLC Grows Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Natixis Advisors LLC lifted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 55.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,068,155 shares of the semiconductor company’s stock after purchasing an additional 380,876 shares during the period. Natixis Advisors LLC’s holdings in Marvell Technology were worth $77,035,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Crumly & Associates Inc. increased its stake in shares of Marvell Technology by 1.5% in the 3rd quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock worth $593,000 after acquiring an additional 121 shares during the last quarter. United Capital Management of KS Inc. increased its position in Marvell Technology by 0.4% during the third quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock worth $2,470,000 after purchasing an additional 131 shares during the last quarter. Tlwm raised its stake in Marvell Technology by 1.6% during the second quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock worth $601,000 after purchasing an additional 136 shares during the period. ASB Consultores LLC raised its stake in Marvell Technology by 3.8% during the third quarter. ASB Consultores LLC now owns 3,824 shares of the semiconductor company’s stock worth $276,000 after purchasing an additional 140 shares during the period. Finally, Bridges Investment Management Inc. grew its stake in shares of Marvell Technology by 4.1% in the 3rd quarter. Bridges Investment Management Inc. now owns 3,806 shares of the semiconductor company’s stock valued at $274,000 after buying an additional 151 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $87.83 on Friday. 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 company’s 50 day moving average is $78.89 and its two-hundred day moving average is $72.74. Marvell Technology, Inc. has a 52 week low of $50.35 and a 52 week high of $95.09.

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

Marvell Technology Announces Dividend

The business 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 0.27%. Marvell Technology’s dividend payout ratio is presently -21.62%.

Wall Street Analyst Weigh In

MRVL has been the topic of a number of recent analyst reports. Morgan Stanley upped their price objective on Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, August 30th. Piper Sandler reiterated an “overweight” rating and set a $100.00 price target on shares of Marvell Technology in a report on Friday, August 30th. Barclays raised their price objective on Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Stifel Nicolaus reaffirmed 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. Finally, The Goldman Sachs Group lifted their price target on shares of Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $91.77.

Insider Activity

In related news, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $70.83, for a total value of $177,075.00. Following the completion of the sale, the executive vice president now directly owns 22,494 shares of the company’s stock, valued at $1,593,250.02. This represents a 10.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 109,244 shares in the company, valued at approximately $8,823,637.88. This trade represents a 5.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 259,500 shares of company stock worth $20,230,710. Corporate insiders own 0.33% of the company’s stock.

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.