Platform Technology Partners Acquires New Shares in Marvell Technology, Inc. (NASDAQ:MRVL)

Platform Technology Partners purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,805 shares of the semiconductor company’s stock, valued at approximately $202,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Marvell Technology during the second quarter worth about $32,000. Quarry LP acquired a new stake in Marvell Technology during the 2nd quarter worth approximately $32,000. Mark Sheptoff Financial Planning LLC purchased a new position in Marvell Technology in the 1st quarter valued at approximately $35,000. Whittier Trust Co. boosted its position in Marvell Technology by 74.5% in the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 210 shares during the period. Finally, Exchange Traded Concepts LLC grew its stake in shares of Marvell Technology by 125.4% in the third 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. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In other 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 transaction of $484,620.00. Following the sale, the executive vice president now owns 109,244 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Muhammad Raghib Hussain sold 150,000 shares of the stock in a transaction dated 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 transaction, the insider now owns 694,487 shares of the company’s stock, valued at approximately $55,906,203.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the executive vice president now owns 109,244 shares in the company, valued at $8,823,637.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 261,000 shares of company stock valued at $20,330,835. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MRVL has been the subject of a number of recent research reports. Piper Sandler reiterated an “overweight” rating and issued a $100.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Morgan Stanley boosted their price objective on Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. Roth Mkm reaffirmed a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a report 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. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $95.00 price objective (up from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.77.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $92.78 on Wednesday. The company has a 50-day simple moving average of $77.65 and a 200-day simple moving average of $72.31. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. The stock has a market capitalization of $82.22 billion, a price-to-earnings ratio of -83.59, a PEG ratio of 4.01 and a beta of 1.44. Marvell Technology, Inc. has a one year low of $50.35 and a one year high of $95.09.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, hitting 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 firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period 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. On average, analysts predict that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.26%. The ex-dividend date was Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -21.62%.

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.