Value Aligned Research Advisors LLC Has $57.24 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Value Aligned Research Advisors LLC raised its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 1.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 792,609 shares of the semiconductor company's stock after purchasing an additional 9,384 shares during the period. Marvell Technology accounts for approximately 14.9% of Value Aligned Research Advisors LLC's investment portfolio, making the stock its biggest position. Value Aligned Research Advisors LLC owned approximately 0.09% of Marvell Technology worth $57,240,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC boosted its position in shares of Marvell Technology by 47,934.4% during the 1st quarter. Lazard Asset Management LLC now owns 4,001,745 shares of the semiconductor company's stock worth $283,643,000 after purchasing an additional 3,993,414 shares in the last quarter. Whale Rock Capital Management LLC bought a new position in Marvell Technology in the 1st quarter valued at about $181,559,000. Ameriprise Financial Inc. boosted its stake in Marvell Technology by 24.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company's stock valued at $812,509,000 after purchasing an additional 2,254,610 shares during the last quarter. Swedbank AB lifted its stake in Marvell Technology by 653.5% during the 2nd quarter. Swedbank AB now owns 2,334,015 shares of the semiconductor company's stock valued at $163,148,000 after acquiring an additional 2,024,269 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Marvell Technology by 13.4% in the first quarter. Janus Henderson Group PLC now owns 13,478,472 shares of the semiconductor company's stock valued at $955,400,000 after acquiring an additional 1,591,874 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

Insider Activity at Marvell Technology

In related news, Director Ford Tamer sold 92,000 shares of the business's 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 owns 351,193 shares of the company's stock, valued at approximately $26,044,472.88. The trade was a 20.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Casper sold 2,500 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $70.83, for a total transaction of $177,075.00. Following the transaction, the executive vice president now owns 22,494 shares in the company, valued at $1,593,250.02. The trade was a 10.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 267,000 shares of company stock worth $20,899,260 over the last ninety days. Insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Barclays upped their price objective on shares of Marvell Technology from $80.00 to $85.00 and gave the stock an "overweight" rating in a research report on Friday, August 30th. Piper Sandler reissued an "overweight" rating and set a $100.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. Benchmark upped their target price on shares of Marvell Technology from $105.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, August 30th. StockNews.com downgraded shares of Marvell Technology from a "hold" rating to a "sell" rating in a report on Friday, October 18th. Finally, Evercore ISI lifted their target price on Marvell Technology from $91.00 to $98.00 and gave the stock an "outperform" rating in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, two have issued 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.com, Marvell Technology currently has a consensus rating of "Moderate Buy" and an average target price of $91.77.

Marvell Technology Trading Up 0.6 %

MRVL stock traded up $0.52 during trading on Wednesday, hitting $89.86. The company had a trading volume of 6,521,404 shares, compared to its average volume of 12,068,219. The firm has a 50-day moving average price of $79.64 and a 200-day moving average price of $73.10. Marvell Technology, Inc. has a 12 month low of $50.35 and a 12 month high of $95.09. The stock has a market cap of $79.63 billion, a price-to-earnings ratio of -80.49, a PEG ratio of 3.82 and a beta of 1.44. 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 (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The business 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 was down 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 EPS. As a group, analysts predict that Marvell Technology, Inc. will post 0.78 earnings per share for the current year.

Marvell Technology Announces Dividend

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