Banque Cantonale Vaudoise Grows Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Banque Cantonale Vaudoise lifted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 2.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,186 shares of the semiconductor company’s stock after acquiring an additional 1,184 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Marvell Technology were worth $3,043,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Strategic Investment Solutions Inc. IL acquired a new stake in Marvell Technology during the 2nd quarter worth about $32,000. Quarry LP acquired a new stake in Marvell Technology during the second quarter worth about $32,000. Whittier Trust Co. raised its position in 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 acquiring an additional 210 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Marvell Technology by 125.4% in the third quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 336 shares during the period. Finally, Unique Wealth Strategies LLC acquired a new stake in shares of Marvell Technology during the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $133,710.00. Following the completion of the transaction, the chief financial officer now owns 114,211 shares of the company’s stock, valued at $10,180,768.54. This trade represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 694,487 shares in the company, valued at $55,906,203.50. This trade represents a 17.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 267,000 shares of company stock worth $20,899,260. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Trading Up 0.7 %

Shares of MRVL opened at $89.34 on Wednesday. Marvell Technology, Inc. has a 12-month low of $50.35 and a 12-month high of $95.09. The firm has a market capitalization of $79.17 billion, a P/E ratio of -80.49, a P/E/G ratio of 3.82 and a beta of 1.44. The firm has a 50-day moving average price of $79.64 and a 200 day moving average price of $73.10. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28.

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

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.27%. The ex-dividend date was Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -21.62%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Morgan Stanley boosted their target price 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. Piper Sandler reissued an “overweight” rating and set a $100.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Bank of America lifted their price target on Marvell Technology from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Barclays increased their price target on Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. One research 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 stock. Based on data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average price target 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.