Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. raised its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 7.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 12,377 shares of the semiconductor company’s stock after buying an additional 816 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Marvell Technology were worth $893,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of MRVL. Salomon & Ludwin LLC acquired a new position in shares of Marvell Technology during the first quarter worth about $31,000. Strategic Investment Solutions Inc. IL acquired a new position in Marvell Technology during the 2nd quarter worth approximately $32,000. Quarry LP purchased a new position in shares of Marvell Technology during the 2nd quarter worth approximately $32,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Marvell Technology in the 1st quarter valued at approximately $35,000. Finally, Whittier Trust Co. boosted its stake in shares of Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Evercore ISI raised their target price on Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Roth Mkm reiterated a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. Rosenblatt Securities upped their target price on shares of Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. StockNews.com downgraded shares of Marvell Technology from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. Finally, TD Cowen raised Marvell Technology to a “strong-buy” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and an average target price of $91.62.

Insider Buying and Selling

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the transaction, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at $8,823,637.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the completion of the sale, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at approximately $8,823,637.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the insider now directly 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 disclosure for this sale can be found here. In the last quarter, insiders sold 261,000 shares of company stock valued at $20,330,835. 0.33% of the stock is currently owned by corporate insiders.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $81.61 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. The firm has a market capitalization of $72.32 billion, a price-to-earnings ratio of -73.52, a price-to-earnings-growth ratio of 3.62 and a beta of 1.45. Marvell Technology, Inc. has a one year low of $46.07 and a one year high of $85.76. The company has a 50 day moving average price of $73.67 and a 200 day moving average price of $70.54.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data 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 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 firm posted $0.18 EPS. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. Sell-side analysts anticipate that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, October 11th. Marvell Technology’s payout ratio is currently -21.62%.

Marvell Technology 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.