United Asset Strategies Inc. raised its holdings in Marvell Technology, Inc. (NASDAQ:MRVL – Free Report) by 3.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 205,341 shares of the semiconductor company’s stock after purchasing an additional 7,504 shares during the period. Marvell Technology accounts for about 1.4% of United Asset Strategies Inc.’s holdings, making the stock its 19th biggest position. United Asset Strategies Inc.’s holdings in Marvell Technology were worth $14,809,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of MRVL. Tlwm raised its holdings in Marvell Technology by 1.6% during the 2nd quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock valued at $601,000 after acquiring an additional 136 shares during the period. New Century Financial Group LLC lifted its holdings in Marvell Technology by 3.0% during the 3rd quarter. New Century Financial Group LLC now owns 5,428 shares of the semiconductor company’s stock worth $391,000 after purchasing an additional 156 shares in the last quarter. Parisi Gray Wealth Management boosted its stake in Marvell Technology by 4.2% in the 3rd quarter. Parisi Gray Wealth Management now owns 4,161 shares of the semiconductor company’s stock worth $300,000 after purchasing an additional 166 shares during the period. Sheaff Brock Investment Advisors LLC increased its position in shares of Marvell Technology by 0.4% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 44,342 shares of the semiconductor company’s stock valued at $3,143,000 after buying an additional 168 shares during the period. Finally, Pathway Financial Advisers LLC lifted its holdings in shares of Marvell Technology by 1.2% in the second quarter. Pathway Financial Advisers LLC now owns 14,601 shares of the semiconductor company’s stock worth $1,019,000 after buying an additional 169 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.
Marvell Technology Trading Down 3.8 %
NASDAQ MRVL traded down $3.12 during trading on Thursday, hitting $79.68. The company had a trading volume of 2,742,614 shares, compared to its average volume of 12,168,318. The company’s fifty day moving average is $74.22 and its 200-day moving average is $70.73. The company has a market cap of $70.61 billion, a price-to-earnings ratio of -74.59, a price-to-earnings-growth ratio of 3.55 and a beta of 1.45. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. Marvell Technology, Inc. has a one year low of $46.07 and a one year high of $85.76.
Marvell Technology Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.30%. Marvell Technology’s dividend payout ratio is currently -21.62%.
Insiders Place Their Bets
In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $66.75, for a total transaction of $100,125.00. Following the sale, the chief financial officer now directly owns 113,253 shares in the company, valued at approximately $7,559,637.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Ford Tamer sold 92,000 shares of Marvell Technology stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $74.16, for a total transaction of $6,822,720.00. Following the transaction, the director now directly owns 351,193 shares in the company, valued at approximately $26,044,472.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $66.75, for a total transaction of $100,125.00. Following the sale, the chief financial officer now owns 113,253 shares in the company, valued at approximately $7,559,637.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 261,000 shares of company stock valued at $20,330,835. Insiders own 0.33% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on MRVL shares. Barclays upped their target price on shares of Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Rosenblatt Securities raised their price target on Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 30th. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. Benchmark upped their target price on shares of Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, KeyCorp raised their price target on Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.62.
Get Our Latest Stock Analysis on Marvell Technology
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.
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