Americana Partners LLC Purchases Shares of 4,370 Marvell Technology, Inc. (NASDAQ:MRVL)

Americana Partners LLC bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 4,370 shares of the semiconductor company’s stock, valued at approximately $315,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MRVL. Lazard Asset Management LLC increased its position in Marvell Technology by 47,934.4% during the first quarter. Lazard Asset Management LLC now owns 4,001,745 shares of the semiconductor company’s stock worth $283,643,000 after acquiring an additional 3,993,414 shares during the period. Whale Rock Capital Management LLC bought a new position in shares of Marvell Technology during the 1st quarter worth about $181,559,000. Ameriprise Financial Inc. raised its position in shares of Marvell Technology by 24.1% during the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after buying an additional 2,254,610 shares during the last quarter. Swedbank AB lifted its stake in shares of Marvell Technology by 653.5% in the second quarter. Swedbank AB now owns 2,334,015 shares of the semiconductor company’s stock valued at $163,148,000 after buying an additional 2,024,269 shares during the period. Finally, Janus Henderson Group PLC grew its position in Marvell Technology by 13.4% during the first quarter. Janus Henderson Group PLC now owns 13,478,472 shares of the semiconductor company’s stock worth $955,400,000 after buying an additional 1,591,874 shares in the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the transaction, the executive vice president now owns 109,244 shares of the company’s stock, valued at approximately $8,823,637.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the company’s 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 owns 109,244 shares of the company’s stock, valued at approximately $8,823,637.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ford Tamer sold 92,000 shares of Marvell Technology 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 transaction, 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 disclosure for this sale can be found here. Insiders have sold 261,000 shares of company stock worth $20,330,835 in the last three months. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

MRVL has been the subject of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price target on shares of Marvell Technology in a report on Friday, August 30th. Rosenblatt Securities raised their target price on Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Piper Sandler reissued an “overweight” rating and issued a $100.00 price target on shares of Marvell Technology in a report on Friday, August 30th. TD Cowen raised shares of Marvell Technology to a “strong-buy” rating in a report on Monday, September 16th. Finally, Barclays increased their price target on shares of Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average price target of $91.62.

Marvell Technology Price Performance

Marvell Technology stock opened at $84.77 on Friday. The stock has a market cap of $75.12 billion, a price-to-earnings ratio of -76.37, a P/E/G ratio of 3.48 and a beta of 1.44. Marvell Technology, Inc. has a 12-month low of $48.44 and a 12-month high of $87.28. 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 issued its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the company earned $0.18 EPS. Marvell Technology’s revenue was down 5.1% on a year-over-year basis. As a group, research analysts anticipate that Marvell Technology, Inc. will post 0.78 earnings per share for the current year.

Marvell Technology Dividend Announcement

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

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.