NBC Securities Inc. Raises Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

NBC Securities Inc. grew its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 20.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,466 shares of the semiconductor company’s stock after buying an additional 419 shares during the quarter. NBC Securities Inc.’s holdings in Marvell Technology were worth $177,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Davidson Kempner Capital Management LP lifted its stake in Marvell Technology by 26.5% in the second quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock worth $17,482,000 after acquiring an additional 52,365 shares during the last quarter. Diversified Trust Co purchased a new stake in shares of Marvell Technology during the 2nd quarter worth $932,000. Orion Portfolio Solutions LLC grew its stake in shares of Marvell Technology by 47.1% during the first quarter. Orion Portfolio Solutions LLC now owns 32,191 shares of the semiconductor company’s stock worth $2,282,000 after purchasing an additional 10,306 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Marvell Technology by 24.1% in the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after buying an additional 2,254,610 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Marvell Technology by 20.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 529,127 shares of the semiconductor company’s stock worth $37,505,000 after buying an additional 88,918 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Trading Down 0.1 %

NASDAQ MRVL opened at $79.85 on Friday. 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 stock has a market capitalization of $69.12 billion, a P/E ratio of -70.66, a P/E/G ratio of 3.17 and a beta of 1.45. Marvell Technology, Inc. has a 52-week low of $46.07 and a 52-week high of $85.76. The firm has a 50-day moving average price of $71.99 and a 200 day moving average price of $70.23.

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

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.30%. Marvell Technology’s payout ratio is currently -21.24%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MRVL shares. KeyCorp raised their target price on Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. 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 report on Friday, August 30th. Roth Mkm reiterated a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a research note on Friday, August 30th. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 price target (up from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. Finally, Morgan Stanley raised their price objective on Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $91.62.

Insider Transactions at Marvell Technology

In related news, insider Muhammad Raghib Hussain sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $12,075,000.00. Following the completion of the sale, the insider now owns 694,487 shares in the company, valued at $55,906,203.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Muhammad Raghib Hussain sold 150,000 shares of Marvell Technology stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the completion of the transaction, the insider now directly owns 694,487 shares of the company’s stock, valued at approximately $55,906,203.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ford Tamer sold 92,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $74.16, for a total value of $6,822,720.00. Following the sale, the director now owns 351,193 shares in the company, valued at approximately $26,044,472.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 255,000 shares of company stock valued at $19,846,215 in the last ninety days. 0.33% of the stock is currently owned by company 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.