Marvell Technology, Inc. (NASDAQ:MRVL) Stock Holdings Increased by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC grew its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 6.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 382,288 shares of the semiconductor company’s stock after acquiring an additional 21,985 shares during the period. Segall Bryant & Hamill LLC’s holdings in Marvell Technology were worth $27,571,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Avior Wealth Management LLC raised its holdings in shares of Marvell Technology by 26.2% during the 3rd quarter. Avior Wealth Management LLC now owns 1,363 shares of the semiconductor company’s stock valued at $98,000 after purchasing an additional 283 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Marvell Technology by 1.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 71,783 shares of the semiconductor company’s stock worth $5,177,000 after purchasing an additional 1,062 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Marvell Technology during the third quarter worth approximately $6,466,000. Banque Cantonale Vaudoise grew its holdings in Marvell Technology by 2.9% during the third quarter. Banque Cantonale Vaudoise now owns 42,186 shares of the semiconductor company’s stock valued at $3,043,000 after purchasing an additional 1,184 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its position in shares of Marvell Technology by 36.5% in the third quarter. Fifth Third Wealth Advisors LLC now owns 7,314 shares of the semiconductor company’s stock valued at $527,000 after purchasing an additional 1,954 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MRVL. Citigroup reiterated a “buy” rating and issued a $91.00 target price on shares of Marvell Technology in a research note on Monday, October 14th. Morgan Stanley lifted their price objective on Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, August 30th. StockNews.com downgraded Marvell Technology from a “hold” rating to a “sell” rating in a research note on Friday, October 18th. Loop Capital assumed coverage on Marvell Technology in a research report on Monday, November 11th. They issued a “hold” rating and a $95.00 price target on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average target price of $91.77.

Marvell Technology Stock Up 0.7 %

Shares of NASDAQ MRVL opened at $89.34 on Wednesday. Marvell Technology, Inc. has a 12-month low of $50.35 and a 12-month high of $95.09. 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 firm’s 50-day simple moving average is $79.64 and its 200 day simple moving average is $73.10. The company has a market cap of $79.17 billion, a price-to-earnings ratio of -80.49, a price-to-earnings-growth ratio of 3.82 and a beta of 1.44.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings results 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 negative net margin of 18.30% and a positive return on equity of 4.31%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the firm posted $0.18 earnings per share. Marvell Technology’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, research analysts expect that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.27%. Marvell Technology’s dividend payout ratio is currently -21.62%.

Insider Activity

In other news, insider Muhammad Raghib Hussain sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $12,075,000.00. Following the completion of the sale, the insider now directly owns 694,487 shares of the company’s stock, valued at $55,906,203.50. This trade represents a 17.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $73.87, for a total value of $110,805.00. Following the transaction, the chief financial officer now directly owns 111,753 shares in the company, valued at $8,255,194.11. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 267,000 shares of company stock worth $20,899,260 over the last ninety days. Insiders own 0.33% of the company’s stock.

Marvell Technology 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.