EDENTREE ASSET MANAGEMENT Ltd Has $7.61 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

EDENTREE ASSET MANAGEMENT Ltd raised its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 3.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 108,820 shares of the semiconductor company’s stock after buying an additional 3,833 shares during the period. Marvell Technology comprises about 2.4% of EDENTREE ASSET MANAGEMENT Ltd’s investment portfolio, making the stock its 16th biggest holding. EDENTREE ASSET MANAGEMENT Ltd’s holdings in Marvell Technology were worth $7,610,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Tlwm boosted its position in Marvell Technology by 1.6% during the second quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock valued at $601,000 after purchasing an additional 136 shares during the last quarter. Bruce G. Allen Investments LLC grew its stake in shares of Marvell Technology by 56.4% in the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 141 shares in the last quarter. Trueblood Wealth Management LLC increased its holdings in Marvell Technology by 3.2% in the first quarter. Trueblood Wealth Management LLC now owns 4,944 shares of the semiconductor company’s stock worth $350,000 after buying an additional 152 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its position in Marvell Technology by 0.5% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 30,764 shares of the semiconductor company’s stock valued at $1,855,000 after acquiring an additional 162 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC lifted its stake in Marvell Technology by 0.4% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 44,342 shares of the semiconductor company’s stock valued at $3,143,000 after acquiring an additional 168 shares during the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Trading Down 0.0 %

Shares of Marvell Technology stock opened at $71.18 on Thursday. Marvell Technology, Inc. has a 52-week low of $46.07 and a 52-week high of $85.76. The firm has a market capitalization of $63.08 billion, a PE ratio of -62.99, a price-to-earnings-growth ratio of 3.12 and a beta of 1.46. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. The company’s fifty day moving average price is $68.14 and its two-hundred day moving average price is $69.52.

Marvell Technology (NASDAQ:MRVL) last posted its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 earnings per share. On average, analysts expect that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend is Friday, October 11th. Marvell Technology’s dividend payout ratio is -21.24%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MRVL. Stifel Nicolaus restated a “buy” rating and set a $95.00 price target (up previously from $90.00) on shares of Marvell Technology in a report on Friday, August 30th. B. Riley increased their price objective on Marvell Technology from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 31st. Benchmark raised their price objective on Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Evercore ISI upped their target price on Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Finally, Rosenblatt Securities lifted their price target on shares of Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.62.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of Marvell Technology stock in a transaction on Monday, July 15th. The stock was sold at an average price of $73.88, for a total transaction of $369,400.00. Following the completion of the transaction, the executive vice president now directly owns 110,318 shares of the company’s stock, valued at $8,150,293.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Marvell Technology news, insider Muhammad Raghib Hussain sold 50,000 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the sale, the insider now directly owns 838,571 shares of the company’s stock, valued at $62,892,825. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Chris Koopmans sold 5,000 shares of Marvell Technology stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $73.88, for a total transaction of $369,400.00. Following the completion of the transaction, the executive vice president now owns 110,318 shares of the company’s stock, valued at approximately $8,150,293.84. The disclosure for this sale can be found here. Insiders have sold 160,000 shares of company stock worth $11,878,785 over the last three months. Company 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.