Mercer Global Advisors Inc. ADV Purchases 5,969 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Mercer Global Advisors Inc. ADV raised its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 21.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,540 shares of the semiconductor company’s stock after purchasing an additional 5,969 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Marvell Technology were worth $2,344,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Diversified Trust Co acquired a new stake in Marvell Technology in the second quarter valued at about $932,000. Orion Portfolio Solutions LLC grew its holdings in shares of Marvell Technology by 47.1% during the 1st quarter. Orion Portfolio Solutions LLC now owns 32,191 shares of the semiconductor company’s stock valued at $2,282,000 after purchasing an additional 10,306 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Marvell Technology by 20.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 529,127 shares of the semiconductor company’s stock worth $37,505,000 after purchasing an additional 88,918 shares in the last quarter. Westwood Holdings Group Inc. bought a new position in Marvell Technology in the 1st quarter valued at approximately $6,985,000. Finally, US Bancorp DE boosted its position in Marvell Technology by 8.6% in the fourth quarter. US Bancorp DE now owns 185,347 shares of the semiconductor company’s stock valued at $11,178,000 after buying an additional 14,651 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Price Performance

MRVL stock opened at $71.81 on Tuesday. Marvell Technology, Inc. has a 1 year low of $46.07 and a 1 year high of $85.76. The stock has a market capitalization of $62.16 billion, a PE ratio of -63.55, a price-to-earnings-growth ratio of 3.29 and a beta of 1.46. The company’s 50-day moving average is $68.16 and its 200-day moving average is $69.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s quarterly revenue was down 5.1% on a year-over-year basis. Equities research analysts expect that Marvell Technology, Inc. will post 0.77 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.24 annualized dividend and a yield of 0.33%. Marvell Technology’s payout ratio is -21.24%.

Insider Buying and Selling at Marvell Technology

In other news, CEO Matthew J. Murphy sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $73.29, for a total value of $439,740.00. Following the transaction, the chief executive officer now owns 208,915 shares in the company, valued at $15,311,380.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Matthew J. Murphy sold 6,000 shares of the 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 completion of the sale, the chief executive officer now owns 208,915 shares in the company, valued at $15,311,380.35. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $73.87, for a total transaction of $110,805.00. Following the transaction, the chief financial officer now owns 111,753 shares in the company, valued at $8,255,194.11. The disclosure for this sale can be found here. In the last quarter, insiders sold 160,000 shares of company stock worth $11,878,785. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Bank of America increased their price target on Marvell Technology from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Benchmark lifted their price target on Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Rosenblatt Securities upped their price objective on Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 30th. TD Cowen upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, September 16th. Finally, The Goldman Sachs Group upped their price target on shares of Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Two investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.