Bridges Investment Management Inc. Increases Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Bridges Investment Management Inc. boosted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 4.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,806 shares of the semiconductor company’s stock after buying an additional 151 shares during the quarter. Bridges Investment Management Inc.’s holdings in Marvell Technology were worth $274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Marvell Technology by 0.6% in the first quarter. Vanguard Group Inc. now owns 72,810,448 shares of the semiconductor company’s stock worth $5,160,805,000 after buying an additional 468,086 shares during the period. Janus Henderson Group PLC increased its stake in Marvell Technology by 13.4% in the 1st quarter. Janus Henderson Group PLC now owns 13,478,472 shares of the semiconductor company’s stock worth $955,400,000 after purchasing an additional 1,591,874 shares during the period. Ameriprise Financial Inc. lifted its position 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 valued at $812,509,000 after purchasing an additional 2,254,610 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Marvell Technology by 26.6% during the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after purchasing an additional 1,570,050 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in shares of Marvell Technology by 3.0% in the second quarter. Clearbridge Investments LLC now owns 5,189,682 shares of the semiconductor company’s stock worth $362,759,000 after purchasing an additional 150,109 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Marvell Technology

In other news, insider Muhammad Raghib Hussain sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $12,075,000.00. Following the transaction, the insider now owns 694,487 shares in the company, valued at approximately $55,906,203.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $70.83, for a total value of $177,075.00. Following the completion of the transaction, the executive vice president now owns 22,494 shares of the company’s stock, valued at approximately $1,593,250.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the firm’s stock in a transaction dated 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 approximately $55,906,203.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 261,000 shares of company stock worth $20,330,835. 0.33% of the stock is owned by corporate insiders.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $93.80 on Friday. The company has a 50 day simple moving average of $76.88 and a two-hundred day simple moving average of $71.92. Marvell Technology, Inc. has a fifty-two week low of $50.35 and a fifty-two week high of $95.09. The company has a market capitalization of $83.13 billion, a price-to-earnings ratio of -84.50, a P/E/G 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 (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the company earned $0.18 EPS. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. Analysts expect that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend was Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is -21.62%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MRVL. TD Cowen upgraded shares of Marvell Technology to a “strong-buy” rating in a report on Monday, September 16th. Benchmark increased their target price on shares of Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Rosenblatt Securities boosted their price target on Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 30th. Barclays increased their price objective on Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Finally, Bank of America boosted their target price on Marvell Technology from $85.00 to $90.00 and gave the company a “buy” rating in a research note 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Marvell Technology currently has a consensus 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.