Stanley Laman Group Ltd. Purchases 297 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Stanley Laman Group Ltd. grew its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 0.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,303 shares of the semiconductor company’s stock after acquiring an additional 297 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Marvell Technology were worth $4,205,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Davidson Kempner Capital Management LP boosted its holdings 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 in the last quarter. Diversified Trust Co bought a new stake in Marvell Technology in the second quarter worth $932,000. Orion Portfolio Solutions LLC boosted its holdings in Marvell Technology by 47.1% in the first quarter. Orion Portfolio Solutions LLC now owns 32,191 shares of the semiconductor company’s stock worth $2,282,000 after acquiring an additional 10,306 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings 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 worth $812,509,000 after acquiring an additional 2,254,610 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Marvell Technology by 20.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 529,127 shares of the semiconductor company’s stock worth $37,505,000 after purchasing an additional 88,918 shares during the last quarter. 83.51% of the stock is owned by institutional investors.

Marvell Technology Trading Up 1.9 %

Shares of MRVL stock opened at $83.35 on Wednesday. Marvell Technology, Inc. has a 1 year low of $46.07 and a 1 year high of $85.76. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. The stock’s 50 day simple moving average is $72.81 and its two-hundred day simple moving average is $70.34. The company has a market cap of $72.15 billion, a PE ratio of -73.76, a price-to-earnings-growth ratio of 3.17 and a beta of 1.45.

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

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be issued a $0.06 dividend. The ex-dividend date is Friday, October 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.29%. Marvell Technology’s payout ratio is -21.24%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Barclays boosted their price target on Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Needham & Company LLC reiterated a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. Rosenblatt Securities upped their price objective on Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Roth Mkm reiterated a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. Finally, Morgan Stanley upped their price objective on Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $91.62.

Insider Transactions at Marvell Technology

In other news, Director Ford Tamer sold 92,000 shares of the stock in a transaction that occurred 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 directly owns 351,193 shares in the company, valued at approximately $26,044,472.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Marvell Technology news, Director Ford Tamer sold 92,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $74.16, for a total transaction of $6,822,720.00. Following the sale, the director now owns 351,193 shares of the company’s stock, valued at approximately $26,044,472.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 113,253 shares in the company, valued at $7,559,637.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 255,000 shares of company stock worth $19,846,215. 0.33% of the stock is currently owned by company insiders.

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.