D.A. Davidson & CO. Grows Position in Marvell Technology, Inc. (NASDAQ:MRVL)

D.A. Davidson & CO. increased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 8.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,056 shares of the semiconductor company’s stock after purchasing an additional 4,718 shares during the period. D.A. Davidson & CO.’s holdings in Marvell Technology were worth $4,331,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Davidson Kempner Capital Management LP boosted its stake in shares of Marvell Technology by 26.5% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock worth $17,482,000 after purchasing an additional 52,365 shares during the period. Braun Stacey Associates Inc. purchased a new position in shares of Marvell Technology during the 3rd quarter worth about $16,435,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Marvell Technology by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after purchasing an additional 66,654 shares during the period. Diversified Trust Co purchased a new position in shares of Marvell Technology during the 2nd quarter worth about $932,000. Finally, Silicon Valley Capital Partners boosted its position in Marvell Technology by 254.6% in the 3rd quarter. Silicon Valley Capital Partners now owns 32,978 shares of the semiconductor company’s stock valued at $2,378,000 after buying an additional 23,678 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on MRVL shares. Needham & Company LLC reissued a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. TD Cowen raised shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, September 16th. Evercore ISI boosted their price objective on shares of Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Susquehanna boosted their price target on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “positive” rating in a report on Wednesday. Finally, Bank of America boosted their price target on shares of Marvell Technology from $85.00 to $90.00 and gave the company a “buy” rating in a report on Friday, August 30th. Three analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.39.

Marvell Technology Stock Down 3.3 %

MRVL stock opened at $90.10 on Friday. The firm’s fifty day simple moving average is $81.82 and its 200-day simple moving average is $74.05. Marvell Technology, Inc. has a 12 month low of $50.35 and a 12 month high of $95.55. The company has a market capitalization of $79.85 billion, a P/E ratio of -81.17, a price-to-earnings-growth ratio of 4.01 and a beta of 1.44. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the firm posted $0.18 earnings per share. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. As a group, equities research analysts forecast that Marvell Technology, Inc. will post 0.78 earnings per share for the current year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Friday, October 11th. Marvell Technology’s dividend payout ratio is presently -21.62%.

Insiders Place Their Bets

In other Marvell Technology news, insider Muhammad Raghib Hussain sold 150,000 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 694,487 shares in the company, valued at approximately $55,906,203.50. This represents a 17.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $70.83, for a total transaction of $177,075.00. Following the transaction, the executive vice president now owns 22,494 shares of the company’s stock, valued at $1,593,250.02. This represents a 10.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 267,000 shares of company stock worth $20,899,260. Company insiders own 0.33% of the company’s stock.

Marvell Technology 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.