B. Metzler seel. Sohn & Co. Holding AG Makes New $6.47 Million Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 89,662 shares of the semiconductor company's stock, valued at approximately $6,466,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MRVL. Davidson Kempner Capital Management LP boosted its holdings in Marvell Technology by 26.5% in the second quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company's stock valued at $17,482,000 after acquiring an additional 52,365 shares during the last quarter. Braun Stacey Associates Inc. bought a new stake in Marvell Technology in the third quarter valued at approximately $16,435,000. Diversified Trust Co bought a new stake in Marvell Technology in the second quarter valued at approximately $932,000. WD Rutherford LLC boosted its holdings in Marvell Technology by 182.5% in the third quarter. WD Rutherford LLC now owns 18,266 shares of the semiconductor company's stock valued at $1,317,000 after acquiring an additional 11,801 shares during the last quarter. Finally, Silicon Valley Capital Partners boosted its holdings in Marvell Technology by 254.6% in the third quarter. Silicon Valley Capital Partners now owns 32,978 shares of the semiconductor company's stock valued at $2,378,000 after acquiring an additional 23,678 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Trading Up 0.6 %

Marvell Technology stock traded up $0.52 during trading hours on Wednesday, reaching $89.86. The company had a trading volume of 6,521,404 shares, compared to its average volume of 12,068,219. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. The company has a 50-day moving average price of $79.94 and a 200 day moving average price of $73.22. The firm has a market cap of $79.63 billion, a price-to-earnings ratio of -80.95, a P/E/G ratio of 3.82 and a beta of 1.44. Marvell Technology, Inc. has a 12-month low of $50.35 and a 12-month high of $95.09.

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

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, October 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.27%. Marvell Technology's dividend payout ratio (DPR) is presently -21.62%.

Insider Activity

In related news, CFO Willem A. Meintjes sold 1,500 shares of the company's stock in a transaction 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 sale, the chief financial officer now directly owns 114,211 shares of the company's stock, valued at $10,180,768.54. This represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Chris Koopmans sold 6,000 shares of the company'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 completion of the sale, the executive vice president now directly owns 109,244 shares in the company, valued at approximately $8,823,637.88. The trade was a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 267,000 shares of company stock valued at $20,899,260. Company insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. 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. The Goldman Sachs Group boosted their price target on Marvell Technology from $77.00 to $87.00 and gave the company a "buy" rating in a research note on Friday, August 30th. StockNews.com lowered Marvell Technology from a "hold" rating to a "sell" rating in a research note on Friday, October 18th. Rosenblatt Securities boosted their price target on Marvell Technology from $100.00 to $120.00 and gave the company a "buy" rating in a research note on Friday, August 30th. Finally, Barclays boosted their price target on Marvell Technology from $80.00 to $85.00 and gave the company an "overweight" rating 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $91.77.

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.