Asset Management One Co. Ltd. Acquires 1,019 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Asset Management One Co. Ltd. increased its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 0.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 324,233 shares of the semiconductor company’s stock after purchasing an additional 1,019 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Marvell Technology were worth $23,384,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP acquired a new stake in shares of Marvell Technology in the second quarter valued at about $32,000. Strategic Investment Solutions Inc. IL bought a new stake in Marvell Technology in the second quarter valued at approximately $32,000. Whittier Trust Co. increased its position in Marvell Technology by 74.5% during the 3rd 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. Mark Sheptoff Financial Planning LLC bought a new position in Marvell Technology during the 1st quarter worth approximately $35,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of Marvell Technology by 125.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 336 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $66.75, for a total transaction of $100,125.00. Following the completion of the sale, the chief financial officer now owns 113,253 shares in the company, valued at $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 available at this hyperlink. In other 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 completion of the transaction, the chief financial officer now owns 113,253 shares in the company, valued at approximately $7,559,637.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $70.83, for a total value of $177,075.00. Following the completion of the sale, the executive vice president now directly owns 22,494 shares of the company’s stock, valued at approximately $1,593,250.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 261,000 shares of company stock valued at $20,330,835. Company insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $87.19 on Wednesday. The company has a market capitalization of $77.27 billion, a PE ratio of -78.55, a PEG ratio of 3.68 and a beta of 1.44. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The stock’s 50 day moving average price is $75.60 and its 200-day moving average price is $71.36. Marvell Technology, Inc. has a twelve month low of $50.35 and a twelve month high of $87.99.

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. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The business’s revenue was down 5.1% on a year-over-year basis. On average, equities analysts anticipate that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.28%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.62%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Roth Mkm reissued a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Rosenblatt Securities upped their target price on Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 30th. KeyCorp boosted their price target on Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Piper Sandler reaffirmed an “overweight” rating and set a $100.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. Finally, The Goldman Sachs Group boosted their target price on shares of Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.62.

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.