Montag A & Associates Inc. Buys 8,836 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Montag A & Associates Inc. grew its position in shares of Marvell Technology, Inc. (NASDAQ:MRVLFree Report) by 15.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,837 shares of the semiconductor company’s stock after purchasing an additional 8,836 shares during the period. Montag A & Associates Inc.’s holdings in Marvell Technology were worth $3,510,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MRVL. Quilter Plc bought a new position in shares of Marvell Technology during the first quarter valued at approximately $248,250,000. SRS Capital Advisors Inc. raised its holdings in shares of Marvell Technology by 216.2% during the second quarter. SRS Capital Advisors Inc. now owns 411 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 281 shares in the last quarter. West Tower Group LLC bought a new position in shares of Marvell Technology during the second quarter valued at approximately $25,000. Lindbrook Capital LLC raised its holdings in shares of Marvell Technology by 67.6% during the second quarter. Lindbrook Capital LLC now owns 429 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 173 shares in the last quarter. Finally, Buck Wealth Strategies LLC raised its holdings in shares of Marvell Technology by 1,328.1% during the third quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 425 shares in the last quarter. Institutional investors own 83.32% of the company’s stock.

Marvell Technology Price Performance

Shares of MRVL stock traded up $1.57 on Monday, hitting $70.40. 14,137,366 shares of the stock traded hands, compared to its average volume of 13,240,007. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.58 and a quick ratio of 1.08. The firm has a market cap of $60.86 billion, a price-to-earnings ratio of -106.15, a PEG ratio of 6.99 and a beta of 1.52. The firm has a 50 day simple moving average of $62.64 and a two-hundred day simple moving average of $57.85. Marvell Technology, Inc. has a 52 week low of $36.64 and a 52 week high of $73.53.

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

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, January 5th were given a $0.06 dividend. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.34%. Marvell Technology’s payout ratio is -36.92%.

Insiders Place Their Bets

In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of Marvell Technology stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $57.33, for a total transaction of $286,650.00. Following the completion of the transaction, the executive vice president now owns 129,492 shares in the company, valued at approximately $7,423,776.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,000 shares of Marvell Technology stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $68.20, for a total value of $68,200.00. Following the completion of the transaction, the chief financial officer now directly owns 103,986 shares of the company’s stock, valued at approximately $7,091,845.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Chris Koopmans sold 5,000 shares of Marvell Technology stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $57.33, for a total value of $286,650.00. Following the completion of the transaction, the executive vice president now owns 129,492 shares of the company’s stock, valued at approximately $7,423,776.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 201,000 shares of company stock valued at $12,056,240. 0.45% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MRVL shares. Barclays increased their price objective on Marvell Technology from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Roth Mkm assumed coverage on shares of Marvell Technology in a report on Tuesday, November 14th. They set a “buy” rating and a $60.00 price objective for the company. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 25th. UBS Group reduced their price objective on Marvell Technology from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, December 1st. Finally, Piper Sandler decreased their target price on shares of Marvell Technology from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Friday, December 1st. Two research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.96.

Read Our Latest Report on MRVL

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.

See Also

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

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