MONECO Advisors LLC Purchases Shares of 3,953 Marvell Technology, Inc. (NASDAQ:MRVL)

MONECO Advisors LLC purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,953 shares of the semiconductor company’s stock, valued at approximately $285,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Salomon & Ludwin LLC purchased a new stake in shares of Marvell Technology during the first quarter valued at approximately $31,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Marvell Technology during the second quarter valued at approximately $32,000. Quarry LP purchased a new stake in shares of Marvell Technology during the second quarter valued at approximately $32,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Marvell Technology during the first quarter valued at approximately $35,000. Finally, Whittier Trust Co. raised its stake in shares of Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 210 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Stock Performance

MRVL stock opened at $82.80 on Thursday. The company has a market capitalization of $73.38 billion, a P/E ratio of -74.59, a PEG ratio of 3.55 and a beta of 1.45. The company has a 50-day simple moving average of $74.22 and a 200 day simple moving average of $70.73. Marvell Technology, Inc. has a fifty-two week low of $46.07 and a fifty-two week high of $85.76. 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 posted its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.18 earnings per share. Sell-side analysts predict that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.29%. The ex-dividend date is Friday, October 11th. Marvell Technology’s payout ratio is currently -21.62%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. StockNews.com lowered shares of Marvell Technology from a “hold” rating to a “sell” rating in a research note on Friday, October 18th. Citigroup restated a “buy” rating and issued a $91.00 price target on shares of Marvell Technology in a research note on Monday, October 14th. TD Cowen upgraded shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, September 16th. Rosenblatt Securities lifted their price target on shares of Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Needham & Company LLC restated a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.62.

Insider Buying and Selling

In other Marvell Technology news, insider Muhammad Raghib Hussain sold 150,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $12,075,000.00. Following the completion of the sale, the insider now directly owns 694,487 shares of the company’s stock, valued at approximately $55,906,203.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Marvell Technology news, CEO Matthew J. Murphy sold 6,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $73.29, for a total value of $439,740.00. Following the completion of the sale, the chief executive officer now directly owns 208,915 shares of the company’s stock, valued at approximately $15,311,380.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the completion of the sale, the insider now directly owns 694,487 shares of the company’s stock, valued at $55,906,203.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 261,000 shares of company stock valued at $20,330,835 over the last 90 days. 0.33% of the stock is currently owned by company insiders.

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.