Curi RMB Capital LLC Grows Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Curi RMB Capital LLC grew its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 56.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 130,421 shares of the semiconductor company's stock after purchasing an additional 46,913 shares during the period. Curi RMB Capital LLC's holdings in Marvell Technology were worth $9,406,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MRVL. Davidson Kempner Capital Management LP boosted its position 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 worth $17,482,000 after purchasing an additional 52,365 shares during the last quarter. Diversified Trust Co bought a new stake in Marvell Technology during the second quarter worth about $932,000. Orion Portfolio Solutions LLC increased its position in shares of Marvell Technology by 47.1% during the 1st 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. WD Rutherford LLC increased its holdings in Marvell Technology by 182.5% during the third quarter. WD Rutherford LLC now owns 18,266 shares of the semiconductor company's stock worth $1,317,000 after buying an additional 11,801 shares during the last quarter. Finally, Silicon Valley Capital Partners raised its position in Marvell Technology by 254.6% during the third quarter. Silicon Valley Capital Partners now owns 32,978 shares of the semiconductor company's stock worth $2,378,000 after acquiring an additional 23,678 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

Marvell Technology Stock Down 3.2 %

Shares of NASDAQ:MRVL traded down $2.87 during trading on Friday, reaching $87.83. 9,998,923 shares of the stock were exchanged, compared to its average volume of 12,139,501. The stock has a fifty day moving average of $78.89 and a two-hundred day moving average of $72.69. Marvell Technology, Inc. has a 1-year low of $50.35 and a 1-year high of $95.09. 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 firm has a market cap of $77.83 billion, a price-to-earnings ratio of -79.13, a price-to-earnings-growth ratio of 3.91 and a beta of 1.44.

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 for the quarter, hitting analysts' consensus estimates of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the business posted $0.18 EPS. The firm's revenue was down 5.1% compared to the same quarter last year. Research analysts anticipate 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 dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Friday, October 11th. Marvell Technology's payout ratio is currently -21.62%.

Insider Buying and Selling

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the firm'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 of the company's stock, valued at $8,823,637.88. This trade represents a 5.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Matthew J. Murphy acquired 13,000 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The stock was purchased at an average cost of $77.63 per share, with a total value of $1,009,190.00. Following the acquisition, the chief executive officer now owns 221,915 shares in the company, valued at $17,227,261.45. The trade was a 6.22 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 259,500 shares of company stock worth $20,230,710. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MRVL has been the topic of a number of recent analyst reports. StockNews.com downgraded Marvell Technology from a "hold" rating to a "sell" rating in a research report on Friday, October 18th. Evercore ISI lifted their target price on shares of Marvell Technology from $91.00 to $98.00 and gave the stock an "outperform" rating in a report on Friday, August 30th. Bank of America upped their price target on shares of Marvell Technology from $85.00 to $90.00 and gave the company a "buy" rating in a research note on Friday, August 30th. Morgan Stanley boosted their price objective on Marvell Technology from $77.00 to $82.00 and gave the stock an "equal weight" rating in a report on Friday, August 30th. Finally, Barclays boosted their target price on shares of Marvell Technology from $80.00 to $85.00 and gave the company an "overweight" rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.