Braun Stacey Associates Inc. Purchases New Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Braun Stacey Associates Inc. bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 227,878 shares of the semiconductor company's stock, valued at approximately $16,435,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Orion Portfolio Solutions LLC raised its stake in shares of Marvell Technology by 47.1% in the first quarter. Orion Portfolio Solutions LLC now owns 32,191 shares of the semiconductor company's stock worth $2,282,000 after purchasing an additional 10,306 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in Marvell Technology in the 1st quarter valued at $394,000. Covestor Ltd lifted its stake in Marvell Technology by 231.1% during the 1st quarter. Covestor Ltd now owns 1,311 shares of the semiconductor company's stock valued at $93,000 after acquiring an additional 915 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Marvell Technology by 22.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 26,743 shares of the semiconductor company's stock worth $1,896,000 after acquiring an additional 4,882 shares during the last quarter. Finally, UniSuper Management Pty Ltd grew its stake in shares of Marvell Technology by 93.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 12,200 shares of the semiconductor company's stock worth $865,000 after acquiring an additional 5,900 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

Analyst Ratings Changes

MRVL has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised their price target on shares of Marvell Technology from $77.00 to $87.00 and gave the company a "buy" rating in a research report on Friday, August 30th. Benchmark boosted their target price on Marvell Technology from $105.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, August 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $85.00 price target on shares of Marvell Technology in a research report on Friday, August 30th. StockNews.com cut Marvell Technology from a "hold" rating to a "sell" rating in a research report on Friday, October 18th. Finally, Loop Capital began coverage on Marvell Technology in a research report on Monday, November 11th. They set a "hold" rating and a $95.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.77.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $73.87, for a total value of $110,805.00. Following the completion of the sale, the chief financial officer now directly owns 111,753 shares of the company's stock, valued at $8,255,194.11. The trade was a 1.32 % 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, insider Muhammad Raghib Hussain sold 150,000 shares of the firm's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $12,075,000.00. Following the transaction, the insider now directly owns 694,487 shares in the company, valued at $55,906,203.50. This trade represents a 17.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 259,500 shares of company stock valued at $20,230,710. Insiders own 0.33% of the company's stock.

Marvell Technology Price Performance

Shares of MRVL traded up $0.23 during mid-day trading on Monday, reaching $88.06. 3,535,316 shares of the stock traded hands, compared to its average volume of 12,100,949. The company has a market cap of $78.04 billion, a price-to-earnings ratio of -79.13, a price-to-earnings-growth ratio of 3.82 and a beta of 1.44. Marvell Technology, Inc. has a 1 year low of $50.35 and a 1 year high of $95.09. The firm has a fifty day moving average price of $78.89 and a 200 day moving average price of $72.80. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The company's revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.18 EPS. As a group, equities research analysts predict that Marvell Technology, Inc. will post 0.78 earnings per share for the current year.

Marvell Technology Announces Dividend

The business 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 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend was Friday, October 11th. Marvell Technology's dividend payout ratio (DPR) is currently -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.