Graypoint LLC Buys 206 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Graypoint LLC increased its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 7.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,124 shares of the semiconductor company’s stock after purchasing an additional 206 shares during the quarter. Graypoint LLC’s holdings in Marvell Technology were worth $225,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Tlwm increased its stake in Marvell Technology by 1.6% during the 2nd quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock worth $601,000 after purchasing an additional 136 shares in the last quarter. ASB Consultores LLC increased its position in shares of Marvell Technology by 3.8% during the third quarter. ASB Consultores LLC now owns 3,824 shares of the semiconductor company’s stock worth $276,000 after acquiring an additional 140 shares in the last quarter. New Century Financial Group LLC raised its holdings in shares of Marvell Technology by 3.0% during the third quarter. New Century Financial Group LLC now owns 5,428 shares of the semiconductor company’s stock worth $391,000 after acquiring an additional 156 shares during the period. Parisi Gray Wealth Management lifted its position in Marvell Technology by 4.2% in the 3rd quarter. Parisi Gray Wealth Management now owns 4,161 shares of the semiconductor company’s stock valued at $300,000 after acquiring an additional 166 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC boosted its stake in Marvell Technology by 0.4% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 44,342 shares of the semiconductor company’s stock worth $3,143,000 after purchasing an additional 168 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.77, for a total value of $484,620.00. Following the completion of the sale, the executive vice president now owns 109,244 shares in the company, valued at $8,823,637.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other 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 value of $484,620.00. Following the completion of the sale, the executive vice president now directly owns 109,244 shares in the company, valued at approximately $8,823,637.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $66.75, for a total value of $100,125.00. Following the completion of the sale, the chief financial officer now owns 113,253 shares of the company’s stock, valued at approximately $7,559,637.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 261,000 shares of company stock worth $20,330,835. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Stock Down 0.1 %

Shares of MRVL opened at $93.80 on Friday. The firm has a market cap of $83.13 billion, a P/E ratio of -84.50, a price-to-earnings-growth ratio of 3.94 and a beta of 1.44. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. Marvell Technology, Inc. has a 52 week low of $50.35 and a 52 week high of $95.09. The firm’s 50-day simple moving average is $76.88 and its 200 day simple moving average is $71.92.

Marvell Technology (NASDAQ:MRVL) last posted its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. The company 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 for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 earnings per share. On average, analysts forecast that Marvell Technology, Inc. will post 0.78 earnings per share for the current year.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.26%. Marvell Technology’s payout ratio is presently -21.62%.

Wall Street Analyst Weigh In

MRVL has been the topic of a number of research reports. Barclays boosted their price target on Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 30th. The Goldman Sachs Group upped their price target on Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Benchmark raised their price target on shares of Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Evercore ISI boosted their price objective on shares of Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Finally, Rosenblatt Securities raised 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $91.62.

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.