Chartwell Investment Partners LLC Grows Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Chartwell Investment Partners LLC boosted its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 4.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 282,313 shares of the semiconductor company's stock after purchasing an additional 11,701 shares during the period. Marvell Technology comprises approximately 0.7% of Chartwell Investment Partners LLC's portfolio, making the stock its 20th biggest holding. Chartwell Investment Partners LLC's holdings in Marvell Technology were worth $20,360,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Quarry LP bought a new position in shares of Marvell Technology during the second quarter valued at approximately $32,000. Strategic Investment Solutions Inc. IL purchased a new position in Marvell Technology during the 2nd quarter valued at approximately $32,000. Whittier Trust Co. increased its position in Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company's stock worth $35,000 after purchasing an additional 210 shares during the last quarter. Mark Sheptoff Financial Planning LLC bought a new position in Marvell Technology during the first quarter valued at $35,000. Finally, Exchange Traded Concepts LLC lifted its holdings in Marvell Technology by 125.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company's stock valued at $44,000 after buying an additional 336 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $66.75, for a total transaction of $100,125.00. Following the sale, the chief financial officer now directly owns 113,253 shares in the company, valued at approximately $7,559,637.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $66.75, for a total transaction of $100,125.00. Following the completion of the sale, the chief financial officer now directly owns 113,253 shares of the company's stock, valued at approximately $7,559,637.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ford Tamer sold 92,000 shares of Marvell Technology stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $74.16, for a total transaction of $6,822,720.00. Following the completion of the transaction, the director now directly owns 351,193 shares in the company, valued at $26,044,472.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 261,000 shares of company stock valued at $20,330,835 in the last three months. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MRVL shares. Rosenblatt Securities lifted their price target on shares of Marvell Technology from $100.00 to $120.00 and gave the company a "buy" rating in a research note on Friday, August 30th. Morgan Stanley boosted their target price on Marvell Technology from $77.00 to $82.00 and gave the company an "equal weight" rating in a report on Friday, August 30th. StockNews.com lowered shares of Marvell Technology from a "hold" rating to a "sell" rating in a research report on Friday, October 18th. 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. Finally, Benchmark increased their target price on Marvell Technology from $105.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $91.62.

Marvell Technology Trading Down 2.7 %

Shares of NASDAQ MRVL traded down $2.50 during trading on Monday, hitting $91.30. 5,485,459 shares of the company traded hands, compared to its average volume of 12,176,867. The company has a 50-day moving average price of $76.88 and a 200-day moving average price of $71.97. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. Marvell Technology, Inc. has a 1 year low of $50.35 and a 1 year high of $95.09. The firm has a market capitalization of $80.91 billion, a P/E ratio of -84.50, a P/E/G ratio of 4.08 and a beta of 1.44.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its 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 the consensus estimate of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The firm's revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 EPS. On average, equities analysts predict that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Announces Dividend

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

Marvell Technology Company 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.