Victory Capital Management Inc. Has $46.55 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Victory Capital Management Inc. lessened its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 2.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 645,510 shares of the semiconductor company's stock after selling 19,314 shares during the quarter. Victory Capital Management Inc. owned 0.07% of Marvell Technology worth $46,554,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new position in Marvell Technology during the second quarter valued at approximately $32,000. Quarry LP acquired a new stake in Marvell Technology in the second quarter worth $32,000. Mark Sheptoff Financial Planning LLC bought a new stake in Marvell Technology during the 1st quarter valued at $35,000. Whittier Trust Co. boosted its stake in Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 210 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in shares of Marvell Technology by 125.4% in the third 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 owned by institutional investors and hedge funds.

Marvell Technology Trading Down 3.2 %

MRVL traded down $2.87 on Friday, hitting $87.83. The company had a trading volume of 10,001,282 shares, compared to its average volume of 12,139,501. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. The company's fifty day moving average price is $78.89 and its 200 day moving average price is $72.74. Marvell Technology, Inc. has a 1 year low of $50.35 and a 1 year high of $95.09. The firm has a market cap of $77.83 billion, a P/E ratio of -79.13, a PEG ratio of 3.91 and a beta of 1.44.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The business had revenue of $1.27 billion during the quarter, compared to analysts' expectations of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The company's revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.18 EPS. As a group, equities analysts expect that Marvell Technology, Inc. will post 0.78 earnings per share for the current year.

Marvell Technology Announces Dividend

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

Analyst Ratings Changes

Several analysts have commented on MRVL shares. Roth Mkm reissued a "buy" rating and issued a $95.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. Stifel Nicolaus restated a "buy" rating and issued a $95.00 price objective (up previously from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. Rosenblatt Securities upped their target price on shares of Marvell Technology from $100.00 to $120.00 and gave the company a "buy" rating in a research report on Friday, August 30th. Benchmark increased their price target on Marvell Technology from $105.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, August 30th. Finally, StockNews.com cut Marvell Technology from a "hold" rating to a "sell" rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Marvell Technology has a consensus rating of "Moderate Buy" and an average price target of $91.77.

Insider Buying and Selling

In other Marvell Technology news, 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 transaction, the executive vice president now owns 22,494 shares in the company, valued at approximately $1,593,250.02. The trade was a 10.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ford Tamer sold 92,000 shares of the firm'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 transaction, the director now owns 351,193 shares in the company, valued at $26,044,472.88. This represents a 20.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 259,500 shares of company stock valued at $20,230,710. Insiders own 0.33% of the company's stock.

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.