MQS Management LLC Buys New Shares in Marvell Technology, Inc. (NASDAQ:MRVL)

MQS Management LLC purchased a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,620 shares of the semiconductor company’s stock, valued at approximately $261,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Russell Investments Group Ltd. lifted its holdings in Marvell Technology by 75.2% in the 1st quarter. Russell Investments Group Ltd. now owns 238,030 shares of the semiconductor company’s stock worth $16,982,000 after purchasing an additional 102,185 shares in the last quarter. Kingsview Wealth Management LLC purchased a new position in shares of Marvell Technology in the first quarter worth $847,000. HBK Sorce Advisory LLC purchased a new position in shares of Marvell Technology in the first quarter worth $330,000. Orion Portfolio Solutions LLC boosted its position in shares of Marvell Technology by 47.1% during the first quarter. Orion Portfolio Solutions LLC now owns 32,191 shares of the semiconductor company’s stock worth $2,282,000 after acquiring an additional 10,306 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its stake in Marvell Technology by 51.7% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 19,188 shares of the semiconductor company’s stock valued at $1,360,000 after acquiring an additional 6,537 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

Marvell Technology Price Performance

Shares of MRVL opened at $90.70 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. The company has a 50 day moving average price of $78.45 and a 200-day moving average price of $72.56. Marvell Technology, Inc. has a fifty-two week low of $50.35 and a fifty-two week high of $95.09. The stock has a market capitalization of $80.38 billion, a PE ratio of -81.71, a PEG ratio of 4.03 and a beta of 1.44.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 earnings per share. Equities analysts predict that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date was Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -21.62%.

Insider Transactions at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the sale, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at $8,823,637.88. The trade was a 5.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the 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 transaction, the insider now directly owns 694,487 shares in the company, valued at $55,906,203.50. This represents a 17.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 259,500 shares of company stock worth $20,230,710. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on MRVL shares. StockNews.com downgraded Marvell Technology from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. Benchmark increased their target price on Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, August 30th. TD Cowen raised shares of Marvell Technology to a “strong-buy” rating in a report on Monday, September 16th. Morgan Stanley upped their price target on shares of Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, August 30th. Finally, Loop Capital initiated coverage on shares of Marvell Technology in a research note on Monday. They issued a “hold” rating and a $95.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $91.77.

About Marvell Technology

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.