Dynamic Technology Lab Private Ltd Makes New Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Dynamic Technology Lab Private Ltd bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,148 shares of the semiconductor company’s stock, valued at approximately $516,000.

Several other institutional investors have also recently made changes to their positions in the stock. Citizens Financial Group Inc. RI lifted its position in shares of Marvell Technology by 1.5% during the third quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock worth $566,000 after acquiring an additional 116 shares in the last quarter. Crumly & Associates Inc. lifted its position in shares of Marvell Technology by 1.5% during the third quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock worth $593,000 after acquiring an additional 121 shares in the last quarter. United Capital Management of KS Inc. lifted its position in shares of Marvell Technology by 0.4% during the third quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock worth $2,470,000 after acquiring an additional 131 shares in the last quarter. Tlwm raised its position in shares of Marvell Technology by 1.6% in the second quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock worth $601,000 after buying an additional 136 shares in the last quarter. Finally, ASB Consultores LLC raised its position in shares of Marvell Technology by 3.8% in the third quarter. ASB Consultores LLC now owns 3,824 shares of the semiconductor company’s stock worth $276,000 after buying an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Up 2.9 %

MRVL opened at $92.69 on Friday. Marvell Technology, Inc. has a 12 month low of $50.35 and a 12 month high of $95.55. The company has a market cap of $82.14 billion, a P/E ratio of -83.50, a P/E/G ratio of 3.92 and a beta of 1.44. 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 business’s 50-day moving average price is $82.13 and its 200-day moving average price is $74.16.

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, meeting analysts’ consensus estimates of $0.30. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the business earned $0.18 EPS. Marvell Technology’s revenue was down 5.1% compared to the same quarter last year. On average, equities analysts expect that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.26%. Marvell Technology’s dividend payout ratio (DPR) is -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 that occurred on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the transaction, the insider now owns 694,487 shares in the company, valued at approximately $55,906,203.50. This represents a 17.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the completion of the sale, the chief financial officer now directly owns 114,211 shares in the company, valued at approximately $10,180,768.54. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 267,000 shares of company stock worth $20,899,260. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MRVL shares. Needham & Company LLC reiterated a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. TD Cowen upgraded Marvell Technology to a “strong-buy” rating in a research report on Monday, September 16th. Stifel Nicolaus reiterated a “buy” rating and issued a $95.00 price objective (up previously from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. Finally, Wells Fargo & Company increased their price objective on Marvell Technology from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.39.

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.