13,011 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Purchased by Carmel Capital Partners LLC

Carmel Capital Partners LLC bought a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 13,011 shares of the semiconductor company's stock, valued at approximately $938,000.

A number of other institutional investors also recently modified their holdings of the stock. Davidson Kempner Capital Management LP lifted its stake in shares of Marvell Technology by 26.5% in the 2nd quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company's stock valued at $17,482,000 after purchasing an additional 52,365 shares during the last quarter. Diversified Trust Co acquired a new stake in shares of Marvell Technology in the 2nd quarter valued at $932,000. Orion Portfolio Solutions LLC lifted its stake in shares of Marvell Technology by 47.1% in the 1st quarter. Orion Portfolio Solutions LLC now owns 32,191 shares of the semiconductor company's stock valued at $2,282,000 after purchasing an additional 10,306 shares during the last quarter. WD Rutherford LLC lifted its stake in shares of Marvell Technology by 182.5% in the 3rd quarter. WD Rutherford LLC now owns 18,266 shares of the semiconductor company's stock valued at $1,317,000 after purchasing an additional 11,801 shares during the last quarter. Finally, Silicon Valley Capital Partners lifted its stake in shares of Marvell Technology by 254.6% in the 3rd quarter. Silicon Valley Capital Partners now owns 32,978 shares of the semiconductor company's stock valued at $2,378,000 after purchasing an additional 23,678 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

Marvell Technology Price Performance

Shares of NASDAQ MRVL traded down $0.14 during midday trading on Friday, reaching $93.80. 8,339,963 shares of the company traded hands, compared to its average volume of 10,812,190. The firm has a market cap of $83.13 billion, a PE ratio of -84.50, a PEG ratio of 3.94 and a beta of 1.44. The stock's 50-day simple moving average is $76.88 and its 200-day simple moving average is $71.92. Marvell Technology, Inc. has a 12 month low of $50.35 and a 12 month high of $95.09. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.30. The company had revenue of $1.27 billion during 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 business's revenue was down 5.1% on a year-over-year basis. During the same period last year, the business earned $0.18 earnings per share. As a group, equities analysts anticipate that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

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

Analysts Set New Price Targets

Several brokerages recently commented on MRVL. Bank of America lifted their target price on shares of Marvell Technology from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Friday, August 30th. StockNews.com cut shares of Marvell Technology from a "hold" rating to a "sell" rating in a research note on Friday, October 18th. The Goldman Sachs Group lifted their target price on Marvell Technology from $77.00 to $87.00 and gave the stock a "buy" rating in a research report on Friday, August 30th. Needham & Company LLC reaffirmed a "buy" rating and issued a $95.00 price target on shares of Marvell Technology in a report on Friday, August 30th. Finally, Citigroup reissued a "buy" rating and set a $91.00 price objective on shares of Marvell Technology in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Marvell Technology currently has an average rating of "Moderate Buy" and an average price target of $91.62.

Insider Activity at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated 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 transaction, the executive vice president now directly owns 109,244 shares of the company's stock, valued at $8,823,637.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $66.75, for a total value of $100,125.00. Following the completion of the sale, the chief financial officer now directly owns 113,253 shares in the company, valued at $7,559,637.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated 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 owns 109,244 shares of the company's stock, valued at approximately $8,823,637.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 261,000 shares of company stock valued at $20,330,835 over the last ninety days. 0.33% of the stock is owned by insiders.

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.