Aptus Capital Advisors LLC Takes Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Aptus Capital Advisors LLC bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVLFree Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,979 shares of the semiconductor company’s stock, valued at approximately $270,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. MetLife Investment Management LLC purchased a new stake in Marvell Technology during the first quarter worth about $1,210,000. Yousif Capital Management LLC boosted its holdings in Marvell Technology by 6.6% during the first quarter. Yousif Capital Management LLC now owns 14,918 shares of the semiconductor company’s stock worth $1,070,000 after buying an additional 925 shares in the last quarter. Raymond James Trust N.A. raised its position in Marvell Technology by 2.8% during the first quarter. Raymond James Trust N.A. now owns 12,780 shares of the semiconductor company’s stock worth $917,000 after acquiring an additional 344 shares during the last quarter. Cetera Investment Advisers raised its position in Marvell Technology by 20.6% during the first quarter. Cetera Investment Advisers now owns 28,668 shares of the semiconductor company’s stock worth $2,056,000 after acquiring an additional 4,888 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in Marvell Technology by 35.5% during the first quarter. Sequoia Financial Advisors LLC now owns 5,099 shares of the semiconductor company’s stock worth $366,000 after acquiring an additional 1,337 shares during the last quarter. Hedge funds and other institutional investors own 83.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MRVL. Rosenblatt Securities restated a “buy” rating and set a $100.00 target price on shares of Marvell Technology in a research report on Thursday, November 30th. Susquehanna cut their price objective on shares of Marvell Technology from $70.00 to $65.00 and set a “positive” rating for the company in a research report on Friday, December 1st. Piper Sandler cut their price objective on shares of Marvell Technology from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Friday, December 1st. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 25th. Finally, Benchmark restated a “buy” rating and issued a $75.00 target price on shares of Marvell Technology in a report on Friday, December 1st. Two analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.96.

View Our Latest Stock Report on Marvell Technology

Marvell Technology Price Performance

MRVL opened at $68.83 on Monday. The company has a market cap of $59.50 billion, a P/E ratio of -105.89, a P/E/G ratio of 6.99 and a beta of 1.52. The company has a 50 day moving average of $62.64 and a two-hundred day moving average of $57.85. The company has a quick ratio of 1.08, a current ratio of 1.58 and a debt-to-equity ratio of 0.27. 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 announced its earnings results on Thursday, November 30th. The semiconductor company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.01. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. Marvell Technology had a negative net margin of 10.11% and a positive return on equity of 5.20%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 earnings per share. On average, analysts expect that Marvell Technology, Inc. will post 0.85 earnings per share for the current year.

Marvell Technology Dividend Announcement

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

Insider Activity at Marvell Technology

In related news, CFO Willem A. Meintjes sold 4,000 shares of the company’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $60.01, for a total value of $240,040.00. Following the sale, the chief financial officer now directly owns 100,730 shares of the company’s stock, valued at $6,044,807.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $57.33, for a total transaction of $286,650.00. Following the sale, the executive vice president now directly owns 129,492 shares of the company’s stock, valued at $7,423,776.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Willem A. Meintjes sold 4,000 shares of the stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $60.01, for a total transaction of $240,040.00. Following the completion of the sale, the chief financial officer now directly owns 100,730 shares in the company, valued at approximately $6,044,807.30. The disclosure for this sale can be found here. Insiders have sold 201,000 shares of company stock valued at $12,056,240 over the last ninety days. Corporate insiders own 0.45% of the company’s stock.

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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