Weiss Asset Management LP purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 170,437 shares of the semiconductor company's stock, valued at approximately $12,292,000.
A number of other large investors have also bought and sold shares of MRVL. True Wealth Design LLC raised its stake in shares of Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 326 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of Marvell Technology in the second quarter valued at approximately $32,000. Quarry LP acquired a new stake in Marvell Technology during the second quarter worth approximately $32,000. Whittier Trust Co. grew its position in Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company's stock worth $35,000 after buying an additional 210 shares in the last quarter. Finally, Briaud Financial Planning Inc acquired a new stake in Marvell Technology during the third quarter worth approximately $43,000. 83.51% of the stock is currently owned by institutional investors.
Marvell Technology Stock Performance
MRVL stock traded up $0.66 on Friday, reaching $114.03. 9,841,837 shares of the company were exchanged, compared to its average volume of 12,300,937. Marvell Technology, Inc. has a 12 month low of $50.56 and a 12 month high of $119.88. 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 stock's fifty day moving average price is $85.24 and its 200 day moving average price is $75.30. The firm has a market capitalization of $101.05 billion, a PE ratio of -66.69, a PEG ratio of 4.15 and a beta of 1.46.
Marvell Technology Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, October 11th. This represents a $0.24 annualized dividend and a yield of 0.21%. Marvell Technology's dividend payout ratio is currently -14.12%.
Analyst Ratings Changes
MRVL has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on Marvell Technology from $110.00 to $130.00 and gave the company an "overweight" rating in a report on Wednesday. Citigroup boosted their price target on shares of Marvell Technology from $91.00 to $112.00 and gave the company a "buy" rating in a research report on Wednesday. Evercore ISI boosted their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an "outperform" rating in a research note on Monday. JPMorgan Chase & Co. boosted their price objective on shares of Marvell Technology from $90.00 to $130.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Oppenheimer lifted their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company an "outperform" rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $119.04.
Check Out Our Latest Report on Marvell Technology
Insider Activity
In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the transaction, the chief financial officer now owns 114,211 shares in the company, valued at $10,180,768.54. The trade was a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 109,244 shares in the company, valued at approximately $8,823,637.88. This represents a 5.21 % decrease in their ownership of the stock. 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 ninety days. 0.33% of the stock is owned by insiders.
Marvell Technology Profile
(
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.
Featured Stories
Before you consider Marvell Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Marvell Technology wasn't on the list.
While Marvell Technology currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
