M.D. Sass LLC Increases Position in Marvell Technology, Inc. (NASDAQ:MRVL)

M.D. Sass LLC boosted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 5.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,059,581 shares of the semiconductor company’s stock after purchasing an additional 52,200 shares during the period. Marvell Technology makes up about 5.7% of M.D. Sass LLC’s portfolio, making the stock its 6th largest holding. M.D. Sass LLC’s holdings in Marvell Technology were worth $76,417,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of Marvell Technology in the 2nd quarter worth approximately $32,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Marvell Technology in the second quarter valued at $32,000. Whittier Trust Co. increased its holdings in shares of Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 210 shares in the last quarter. Briaud Financial Planning Inc acquired a new stake in shares of Marvell Technology during the 3rd quarter valued at $43,000. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Marvell Technology by 125.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 336 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

Marvell Technology Stock Performance

NASDAQ MRVL traded down $0.27 during midday trading on Tuesday, hitting $92.24. The company had a trading volume of 9,986,338 shares, compared to its average volume of 12,027,795. The firm has a fifty day simple moving average of $80.67 and a two-hundred day simple moving average of $73.59. Marvell Technology, Inc. has a fifty-two week low of $50.35 and a fifty-two week high of $95.09. 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 $81.74 billion, a price-to-earnings ratio of -83.10, a P/E/G ratio of 4.02 and a beta of 1.44.

Marvell Technology (NASDAQ:MRVL) last released its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. The business 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% compared to the same quarter last year. During the same period last year, the business earned $0.18 earnings per share. Equities analysts forecast that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date was Friday, October 11th. Marvell Technology’s dividend payout ratio is presently -21.62%.

Analyst Ratings Changes

MRVL has been the subject of several analyst reports. TD Cowen raised Marvell Technology to a “strong-buy” rating in a report on Monday, September 16th. Benchmark upped their price objective on shares of Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Roth Mkm reiterated a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Barclays boosted their price target on shares of Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Finally, The Goldman Sachs Group increased their target price on shares of Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Three investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $93.43.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the sale, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. The trade was a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were 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 owns 22,494 shares in the company, valued at approximately $1,593,250.02. This represents a 10.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 267,000 shares of company stock worth $20,899,260. 0.33% of the stock is owned by corporate insiders.

Marvell Technology 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.