Marvell Technology, Inc. (NASDAQ:MRVL) Stock Holdings Increased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 2.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 3,261,887 shares of the semiconductor company’s stock after buying an additional 66,654 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Marvell Technology were worth $235,247,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in MRVL. Davidson Kempner Capital Management LP lifted its stake in Marvell Technology by 26.5% during the second quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock worth $17,482,000 after purchasing an additional 52,365 shares during the last quarter. Braun Stacey Associates Inc. bought a new position in shares of Marvell Technology in the 3rd quarter worth about $16,435,000. Diversified Trust Co acquired a new position in shares of Marvell Technology in the 2nd quarter valued at about $932,000. WD Rutherford LLC grew its position in shares of Marvell Technology by 182.5% during the 3rd quarter. WD Rutherford LLC now owns 18,266 shares of the semiconductor company’s stock valued at $1,317,000 after buying an additional 11,801 shares during the last quarter. Finally, Silicon Valley Capital Partners raised its stake in Marvell Technology by 254.6% during the third quarter. Silicon Valley Capital Partners now owns 32,978 shares of the semiconductor company’s stock worth $2,378,000 after acquiring an additional 23,678 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Trading Down 0.5 %

Shares of NASDAQ:MRVL opened at $92.51 on Friday. The stock has a market capitalization of $81.98 billion, a price-to-earnings ratio of -83.34, a PEG ratio of 4.04 and a beta of 1.44. Marvell Technology, Inc. has a 1-year low of $50.35 and a 1-year high of $95.09. The company has a 50 day moving average price of $80.67 and a 200 day moving average price of $73.51. 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 announced its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. Marvell Technology’s revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.18 earnings per share. On average, research analysts anticipate that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.26%. Marvell Technology’s dividend payout ratio is currently -21.62%.

Analysts Set New Price Targets

Several research firms have recently commented on MRVL. Rosenblatt Securities upped their target price on Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 30th. Stifel Nicolaus restated a “buy” rating and set a $95.00 price objective (up from $90.00) on shares of Marvell Technology in a research note on Friday, August 30th. Bank of America raised 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. Loop Capital assumed coverage on shares of Marvell Technology in a research report on Monday, November 11th. They set a “hold” rating and a $95.00 price target for the company. Finally, Evercore ISI lifted their price objective on shares of Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and an average price target of $91.77.

Insider Activity at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Monday, October 21st. The stock was 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 in the company, valued at $8,823,637.88. This represents a 5.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ford Tamer sold 92,000 shares of Marvell Technology stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $74.16, for a total value of $6,822,720.00. Following the transaction, the director now owns 351,193 shares in the company, valued at $26,044,472.88. This represents a 20.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 267,000 shares of company stock worth $20,899,260. 0.33% of the stock is owned by corporate 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.