Atria Investments Inc Has $3.26 Million Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Atria Investments Inc increased its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 22.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,167 shares of the semiconductor company's stock after purchasing an additional 8,160 shares during the quarter. Atria Investments Inc's holdings in Marvell Technology were worth $3,257,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. Concurrent Investment Advisors LLC bought a new position in shares of Marvell Technology during the 1st quarter valued at about $308,000. Russell Investments Group Ltd. grew its position in Marvell Technology by 75.2% in the 1st quarter. Russell Investments Group Ltd. now owns 238,030 shares of the semiconductor company's stock valued at $16,982,000 after acquiring an additional 102,185 shares during the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of Marvell Technology by 35.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 42,671 shares of the semiconductor company's stock valued at $3,025,000 after acquiring an additional 11,121 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Marvell Technology by 20.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 529,127 shares of the semiconductor company's stock valued at $37,505,000 after purchasing an additional 88,918 shares in the last quarter. Finally, Kingsview Wealth Management LLC purchased a new stake in Marvell Technology during the first quarter worth $847,000. Institutional investors own 83.51% of the company's stock.

Wall Street Analysts Forecast Growth

MRVL has been the topic of several recent research reports. Rosenblatt Securities upped their price target on Marvell Technology from $100.00 to $120.00 and gave the stock a "buy" rating in a report on Friday, August 30th. Cantor Fitzgerald reiterated an "overweight" rating and set a $85.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Needham & Company LLC reiterated a "buy" rating and set a $95.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. Morgan Stanley lifted their price objective on shares of Marvell Technology from $77.00 to $82.00 and gave the company an "equal weight" rating in a research note on Friday, August 30th. Finally, Roth Mkm reissued a "buy" rating and issued a $95.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $91.77.

Insider Activity

In other Marvell Technology 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 sale, the insider now owns 694,487 shares of the company's stock, valued at $55,906,203.50. This represents a 17.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the firm's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $70.83, for a total transaction of $177,075.00. Following the completion of the transaction, the executive vice president now directly owns 22,494 shares in the company, valued at $1,593,250.02. This trade represents a 10.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 259,500 shares of company stock worth $20,230,710 in the last 90 days. Company insiders own 0.33% of the company's stock.

Marvell Technology Stock Performance

Marvell Technology stock traded up $0.63 during mid-day trading on Thursday, reaching $90.70. 7,631,252 shares of the company were exchanged, compared to its average volume of 12,149,205. 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 firm has a market cap of $80.38 billion, a PE ratio of -81.14, a price-to-earnings-growth ratio of 4.03 and a beta of 1.44. Marvell Technology, Inc. has a twelve month low of $50.35 and a twelve month high of $95.09. The firm's 50-day simple moving average is $78.04 and its two-hundred day simple moving average is $72.43.

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

Marvell Technology Announces Dividend

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

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.