Lmcg Investments LLC Buys 18,545 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Lmcg Investments LLC lifted its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 16.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 134,525 shares of the semiconductor company’s stock after buying an additional 18,545 shares during the period. Lmcg Investments LLC’s holdings in Marvell Technology were worth $9,702,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Americana Partners LLC bought a new stake in shares of Marvell Technology in the third quarter valued at about $315,000. Stephens Inc. AR lifted its stake in shares of Marvell Technology by 16.2% in the third quarter. Stephens Inc. AR now owns 8,407 shares of the semiconductor company’s stock valued at $606,000 after buying an additional 1,175 shares during the period. Stephens Investment Management Group LLC lifted its stake in shares of Marvell Technology by 34.3% in the third quarter. Stephens Investment Management Group LLC now owns 239,936 shares of the semiconductor company’s stock valued at $17,304,000 after buying an additional 61,307 shares during the period. United Asset Strategies Inc. lifted its stake in shares of Marvell Technology by 3.8% in the third quarter. United Asset Strategies Inc. now owns 205,341 shares of the semiconductor company’s stock valued at $14,809,000 after buying an additional 7,504 shares during the period. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Marvell Technology in the third quarter valued at about $120,000. Institutional investors own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $66.75, for a total transaction of $100,125.00. Following the transaction, the chief financial officer now directly owns 113,253 shares of the company’s stock, valued at $7,559,637.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Muhammad Raghib Hussain sold 150,000 shares of the firm’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 sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $66.75, for a total transaction of $100,125.00. Following the sale, the chief financial officer now owns 113,253 shares in the company, valued at approximately $7,559,637.75. 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 261,000 shares of company stock valued at $20,330,835 over the last three months. 0.33% of the stock is currently owned by corporate insiders.

Marvell Technology Trading Up 5.8 %

MRVL stock traded up $4.66 during midday trading on Friday, reaching $84.77. The company’s stock had a trading volume of 20,330,467 shares, compared to its average volume of 12,247,003. Marvell Technology, Inc. has a 52 week low of $48.44 and a 52 week high of $87.28. The stock has a market cap of $75.12 billion, a PE ratio of -76.37, a price-to-earnings-growth ratio of 3.60 and a beta of 1.45. 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 business’s 50-day simple moving average is $74.94 and its 200-day simple moving average is $71.00.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period last year, the firm earned $0.18 earnings per share. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, sell-side analysts expect that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were paid a $0.06 dividend. The ex-dividend date was Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.28%. Marvell Technology’s payout ratio is presently -21.62%.

Analyst Upgrades and Downgrades

MRVL has been the subject of several recent research reports. TD Cowen raised shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, September 16th. The Goldman Sachs Group increased their price target on shares of Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. KeyCorp increased their price target on shares of Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 price target on shares of Marvell Technology in a research report on Friday, August 30th. Finally, Citigroup reissued a “buy” rating and issued a $91.00 price target on shares of Marvell Technology in a research report on Monday, October 14th. 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus target price of $91.62.

About Marvell Technology

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.