3,769 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Acquired by Atlanta Consulting Group Advisors LLC

Atlanta Consulting Group Advisors LLC purchased a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,769 shares of the semiconductor company’s stock, valued at approximately $272,000.

A number of other large investors have also modified their holdings of MRVL. Lazard Asset Management LLC raised its position in Marvell Technology by 47,934.4% in the 1st quarter. Lazard Asset Management LLC now owns 4,001,745 shares of the semiconductor company’s stock valued at $283,643,000 after purchasing an additional 3,993,414 shares in the last quarter. Whale Rock Capital Management LLC acquired a new stake in Marvell Technology in the first quarter valued at approximately $181,559,000. Ameriprise Financial Inc. raised 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 valued at $812,509,000 after acquiring an additional 2,254,610 shares in the last quarter. Swedbank AB grew its holdings in Marvell Technology by 653.5% during the 2nd quarter. Swedbank AB now owns 2,334,015 shares of the semiconductor company’s stock worth $163,148,000 after acquiring an additional 2,024,269 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of 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 valued at $955,400,000 after purchasing an additional 1,591,874 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Barclays increased their target price on Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Bank of America raised their target price on Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $95.00 price target (up from $90.00) on shares of Marvell Technology in a report on Friday, August 30th. Citigroup restated a “buy” rating and set a $91.00 price objective on shares of Marvell Technology in a research report on Monday, October 14th. Finally, Piper Sandler reiterated an “overweight” rating and set a $100.00 price target on shares of Marvell Technology in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.77.

Insiders Place Their Bets

In related news, CEO Matthew J. Murphy sold 6,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $73.29, for a total value of $439,740.00. Following the sale, the chief executive officer now directly owns 208,915 shares in the company, valued at $15,311,380.35. The trade was a 2.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $70.83, for a total transaction of $177,075.00. Following the transaction, the executive vice president now owns 22,494 shares of the company’s stock, valued at $1,593,250.02. This trade represents a 10.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 259,500 shares of company stock worth $20,230,710. 0.33% of the stock is owned by company insiders.

Marvell Technology Price Performance

Shares of MRVL opened at $87.83 on Monday. The firm has a market capitalization of $77.83 billion, a PE ratio of -79.13, a P/E/G ratio of 3.82 and a beta of 1.44. The stock’s 50 day moving average is $78.89 and its two-hundred day moving average is $72.80. Marvell Technology, Inc. has a twelve month low of $50.35 and a twelve month high of $95.09. 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 announced its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, hitting 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 firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the company posted $0.18 earnings per share. Marvell Technology’s quarterly revenue was down 5.1% on a year-over-year basis. 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 disclosed 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 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Friday, October 11th. Marvell Technology’s dividend payout ratio is currently -21.62%.

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.