SpiderRock Advisors LLC Has $787,000 Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

SpiderRock Advisors LLC increased its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 62.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,916 shares of the semiconductor company’s stock after buying an additional 4,212 shares during the period. SpiderRock Advisors LLC’s holdings in Marvell Technology were worth $787,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC bought a new position in shares of Marvell Technology in the third quarter worth about $410,000. Capital Performance Advisors LLP bought a new position in Marvell Technology in the 3rd quarter worth approximately $72,000. Graypoint LLC lifted its holdings in Marvell Technology by 7.1% during the 3rd quarter. Graypoint LLC now owns 3,124 shares of the semiconductor company’s stock worth $225,000 after buying an additional 206 shares in the last quarter. Concurrent Investment Advisors LLC boosted its position in Marvell Technology by 16.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 4,888 shares of the semiconductor company’s stock valued at $353,000 after buying an additional 696 shares during the last quarter. Finally, ASB Consultores LLC increased its stake in shares of Marvell Technology by 3.8% in the 3rd quarter. ASB Consultores LLC now owns 3,824 shares of the semiconductor company’s stock valued at $276,000 after buying an additional 140 shares during the period. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Price Performance

MRVL stock opened at $93.80 on Monday. The stock has a 50-day moving average price of $76.88 and a two-hundred day moving average price of $71.97. Marvell Technology, Inc. has a 1 year low of $50.35 and a 1 year high of $95.09. The stock has a market cap of $83.13 billion, a PE ratio of -84.50, a price-to-earnings-growth ratio of 4.08 and a beta of 1.44. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.30. The business had revenue of $1.27 billion during 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%. Marvell Technology’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period last year, the company earned $0.18 earnings per share. Equities analysts forecast that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal 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 issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.26%. The ex-dividend date was Friday, October 11th. Marvell Technology’s payout ratio is -21.62%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MRVL shares. Evercore ISI raised their price target on Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a report on Friday, August 30th. TD Cowen raised shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, September 16th. The Goldman Sachs Group boosted their price target on shares of Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $95.00 target price on shares of Marvell Technology 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.62.

Insider Activity at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 109,244 shares in the company, valued at $8,823,637.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Muhammad Raghib Hussain sold 150,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the transaction, the insider now directly owns 694,487 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.77, for a total transaction of $484,620.00. Following the sale, the executive vice president now directly owns 109,244 shares in the company, valued at $8,823,637.88. 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 90 days, insiders sold 261,000 shares of company stock valued at $20,330,835. Corporate 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.