Deltec Asset Management LLC Has $8.81 Million Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Deltec Asset Management LLC lifted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 3.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 122,205 shares of the semiconductor company’s stock after buying an additional 3,524 shares during the quarter. Marvell Technology comprises about 1.7% of Deltec Asset Management LLC’s portfolio, making the stock its 16th largest holding. Deltec Asset Management LLC’s holdings in Marvell Technology were worth $8,813,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of MRVL. Vanguard Group Inc. increased its stake in Marvell Technology by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 72,810,448 shares of the semiconductor company’s stock worth $5,160,805,000 after acquiring an additional 468,086 shares during the period. Janus Henderson Group PLC raised its stake in Marvell Technology by 13.4% in the first quarter. Janus Henderson Group PLC now owns 13,478,472 shares of the semiconductor company’s stock valued at $955,400,000 after purchasing an additional 1,591,874 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Marvell Technology by 24.1% during the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock worth $812,509,000 after purchasing an additional 2,254,610 shares during the period. Van ECK Associates Corp grew its stake in Marvell Technology by 17.6% during the second quarter. Van ECK Associates Corp now owns 5,901,773 shares of the semiconductor company’s stock worth $412,533,000 after buying an additional 884,380 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in Marvell Technology by 3.0% in the 2nd quarter. Clearbridge Investments LLC now owns 5,189,682 shares of the semiconductor company’s stock valued at $362,759,000 after buying an additional 150,109 shares during the period. Institutional investors own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the completion of the sale, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at $8,823,637.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $80.77, for a total value of $484,620.00. Following the sale, the executive vice president now owns 109,244 shares of the company’s stock, valued at $8,823,637.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ford Tamer sold 92,000 shares of Marvell Technology stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $74.16, for a total transaction of $6,822,720.00. Following the completion of the transaction, the director now owns 351,193 shares of the company’s stock, valued at $26,044,472.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 261,000 shares of company stock worth $20,330,835 in the last quarter. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $84.87 on Wednesday. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. The company has a fifty day simple moving average of $74.22 and a 200 day simple moving average of $70.73. Marvell Technology, Inc. has a 12-month low of $46.07 and a 12-month high of $85.76. The company has a market cap of $75.21 billion, a P/E ratio of -76.46, a PEG ratio of 3.55 and a beta of 1.45.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS 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 company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the company posted $0.18 earnings per share. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. Sell-side analysts predict that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

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 issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is currently -21.62%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MRVL. Piper Sandler reiterated an “overweight” rating and set a $100.00 price target on shares of Marvell Technology in a research report on Friday, August 30th. Needham & Company LLC reiterated a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a research note on Friday, August 30th. StockNews.com cut shares of Marvell Technology from a “hold” rating to a “sell” rating in a report on Friday, October 18th. Benchmark increased their price target on Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Roth Mkm restated a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $91.62.

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.