Daiwa Securities Group Inc. Grows Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Daiwa Securities Group Inc. increased its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 15.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,517 shares of the semiconductor company's stock after buying an additional 17,415 shares during the period. Daiwa Securities Group Inc.'s holdings in Marvell Technology were worth $9,629,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MRVL. Bayesian Capital Management LP purchased a new position in Marvell Technology during the 1st quarter valued at about $922,000. Dynasty Wealth Management LLC purchased a new position in Marvell Technology during the 1st quarter valued at about $528,000. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Marvell Technology by 10.2% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 36,174 shares of the semiconductor company's stock valued at $2,564,000 after buying an additional 3,341 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of Marvell Technology by 1.0% in the 1st quarter. California State Teachers Retirement System now owns 1,380,367 shares of the semiconductor company's stock valued at $97,840,000 after buying an additional 13,361 shares in the last quarter. Finally, Tidal Investments LLC boosted its holdings in shares of Marvell Technology by 25.9% in the 1st quarter. Tidal Investments LLC now owns 91,213 shares of the semiconductor company's stock valued at $6,465,000 after buying an additional 18,752 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Marvell Technology from $90.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday. Stifel Nicolaus restated a "buy" rating and issued a $95.00 price target (up from $90.00) on shares of Marvell Technology in a report on Friday, August 30th. Cantor Fitzgerald restated an "overweight" rating and issued a $85.00 price target on shares of Marvell Technology in a report on Friday, August 30th. TD Cowen upgraded shares of Marvell Technology to a "strong-buy" rating in a report on Monday, September 16th. Finally, Bank of America raised their price target on shares of Marvell Technology from $85.00 to $90.00 and gave the company a "buy" rating in a report on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $93.43.

Marvell Technology Stock Performance

Shares of NASDAQ:MRVL traded up $0.90 during trading on Tuesday, hitting $93.14. 9,014,234 shares of the stock traded hands, compared to its average volume of 12,014,643. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The company has a market cap of $82.54 billion, a price-to-earnings ratio of -83.10, a P/E/G ratio of 4.02 and a beta of 1.44. The company has a fifty day moving average price of $81.05 and a two-hundred day moving average price of $73.76. Marvell Technology, Inc. has a 52-week low of $50.35 and a 52-week high of $95.55.

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, meeting the consensus estimate of $0.30. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The business's quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 EPS. As a group, 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. Stockholders of record on Friday, October 11th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend was Friday, October 11th. Marvell Technology's dividend payout ratio (DPR) is -21.62%.

Insider Activity

In related news, CFO Willem A. Meintjes sold 1,500 shares of the business's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $133,710.00. Following the completion of the sale, the chief financial officer now owns 114,211 shares of the company's stock, valued at approximately $10,180,768.54. The trade was a 1.30 % 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 business's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $70.83, for a total transaction of $177,075.00. Following the completion of the sale, the executive vice president now directly owns 22,494 shares of the company's stock, valued at approximately $1,593,250.02. The trade was a 10.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 267,000 shares of company stock valued at $20,899,260 in the last three months. 0.33% of the stock is currently owned by corporate insiders.

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.