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Segall Bryant & Hamill LLC Increases Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Marvell Technology logo with Business Services background

Segall Bryant & Hamill LLC grew its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 6.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 382,288 shares of the semiconductor company's stock after buying an additional 21,985 shares during the quarter. Segall Bryant & Hamill LLC's holdings in Marvell Technology were worth $27,571,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Edgestream Partners L.P. bought a new position in shares of Marvell Technology during the 1st quarter valued at approximately $394,000. Covestor Ltd raised its stake in shares of Marvell Technology by 231.1% in the first quarter. Covestor Ltd now owns 1,311 shares of the semiconductor company's stock valued at $93,000 after buying an additional 915 shares during the period. O Shaughnessy Asset Management LLC raised its stake in shares of Marvell Technology by 22.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 26,743 shares of the semiconductor company's stock valued at $1,896,000 after buying an additional 4,882 shares during the period. UniSuper Management Pty Ltd lifted its position in shares of Marvell Technology by 93.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 12,200 shares of the semiconductor company's stock valued at $865,000 after buying an additional 5,900 shares during the last quarter. Finally, MQS Management LLC bought a new position in shares of Marvell Technology during the 1st quarter worth $270,000. Hedge funds and other institutional investors own 83.51% of the company's stock.

Marvell Technology Price Performance

NASDAQ MRVL traded down $0.74 on Wednesday, reaching $88.60. 3,183,106 shares of the company's stock traded hands, compared to its average volume of 12,053,413. The stock has a market cap of $78.52 billion, a PE ratio of -80.49, a P/E/G ratio of 3.82 and a beta of 1.44. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. Marvell Technology, Inc. has a 12 month low of $50.35 and a 12 month high of $95.09. The stock has a 50-day simple moving average of $79.64 and a 200 day simple moving average of $73.10.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS 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 analysts' expectations of $1.25 billion. During the same quarter last year, the company earned $0.18 EPS. The firm's revenue was down 5.1% compared to the same quarter last year. As a group, research analysts predict that Marvell Technology, Inc. will post 0.78 earnings per share for the current year.

Marvell Technology Announces Dividend

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

Insider Activity at Marvell Technology

In other news, CEO Matthew J. Murphy sold 6,000 shares of the company's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $73.29, for a total transaction of $439,740.00. Following the completion of the transaction, the chief executive officer now directly owns 208,915 shares of the company's stock, valued at approximately $15,311,380.35. This represents a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ford Tamer sold 92,000 shares of the business's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $74.16, for a total value of $6,822,720.00. Following the transaction, the director now owns 351,193 shares in the company, valued at approximately $26,044,472.88. This represents a 20.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 267,000 shares of company stock worth $20,899,260 in the last ninety days. 0.33% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Roth Mkm reaffirmed a "buy" rating and set a $95.00 price objective on shares of Marvell Technology in a report on Friday, August 30th. Needham & Company LLC restated a "buy" rating and set a $95.00 price target on shares of Marvell Technology in a research note on Friday, August 30th. Rosenblatt Securities boosted their target price on shares of Marvell Technology from $100.00 to $120.00 and gave the company a "buy" rating in a report on Friday, August 30th. StockNews.com lowered Marvell Technology from a "hold" rating to a "sell" rating in a report on Friday, October 18th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $85.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $91.77.

Get Our Latest Report on Marvell Technology

About Marvell Technology

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)

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