SWS Partners Purchases 4,918 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

SWS Partners lifted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 9.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,082 shares of the semiconductor company’s stock after buying an additional 4,918 shares during the period. Marvell Technology comprises 1.3% of SWS Partners’ holdings, making the stock its 15th largest position. SWS Partners’ holdings in Marvell Technology were worth $4,189,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Bruce G. Allen Investments LLC increased its holdings in Marvell Technology by 56.4% during the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 141 shares in the last quarter. Salomon & Ludwin LLC bought a new position in Marvell Technology during the 1st quarter worth about $31,000. Quarry LP bought a new position in Marvell Technology during the 2nd quarter worth about $32,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Marvell Technology during the 2nd quarter worth about $32,000. Finally, Optimum Investment Advisors acquired a new position in shares of Marvell Technology during the 1st quarter worth about $35,000. Institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

MRVL has been the subject of a number of recent research reports. Evercore ISI increased their price objective on shares of Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Roth Mkm restated a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. Barclays increased their price objective on shares of Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Citigroup restated a “buy” rating and set a $91.00 price objective on shares of Marvell Technology in a research note on Monday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $100.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Two analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.62.

Insider Buying and Selling

In other Marvell Technology news, Director Ford Tamer sold 92,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $74.16, for a total transaction of $6,822,720.00. Following the completion of the sale, the director now directly owns 351,193 shares in the company, valued at $26,044,472.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Matthew J. Murphy acquired 13,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was acquired at an average cost of $77.63 per share, for a total transaction of $1,009,190.00. Following the completion of the acquisition, the chief executive officer now directly owns 221,915 shares of the company’s stock, valued at approximately $17,227,261.45. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ford Tamer sold 92,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $74.16, for a total value of $6,822,720.00. Following the completion of the sale, the director now owns 351,193 shares of the company’s stock, valued at $26,044,472.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 103,500 shares of company stock valued at $7,650,465 over the last 90 days. 0.33% of the stock is owned by corporate insiders.

Marvell Technology Stock Performance

Shares of Marvell Technology stock traded up $2.59 on Tuesday, hitting $80.27. The stock had a trading volume of 16,956,834 shares, compared to its average volume of 12,349,829. Marvell Technology, Inc. has a twelve month low of $46.07 and a twelve month high of $85.76. The business’s 50 day moving average is $70.30 and its two-hundred day moving average is $69.98. 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 has a market cap of $69.48 billion, a price-to-earnings ratio of -68.74, a price-to-earnings-growth ratio of 3.17 and a beta of 1.45.

Marvell Technology (NASDAQ:MRVL) last posted its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 earnings per share. Analysts forecast that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Friday, October 11th. Marvell Technology’s dividend payout ratio is currently -21.24%.

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.