Green Alpha Advisors LLC Has $740,000 Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Green Alpha Advisors LLC lowered its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 4.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,259 shares of the semiconductor company’s stock after selling 527 shares during the period. Green Alpha Advisors LLC’s holdings in Marvell Technology were worth $740,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC boosted 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 purchasing an additional 141 shares in the last quarter. Salomon & Ludwin LLC bought a new stake in shares of Marvell Technology during the 1st quarter valued at about $31,000. Quarry LP acquired a new stake in shares of Marvell Technology during the 2nd quarter worth approximately $32,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Marvell Technology in the 2nd quarter valued at $32,000. Finally, Optimum Investment Advisors acquired a new position in shares of Marvell Technology during the 1st quarter valued at $35,000. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Performance

NASDAQ MRVL traded up $0.31 during trading hours on Monday, reaching $73.72. 8,220,255 shares of the company were exchanged, compared to its average volume of 12,410,069. The stock has a market capitalization of $63.81 billion, a P/E ratio of -65.24, a P/E/G ratio of 3.12 and a beta of 1.45. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. Marvell Technology, Inc. has a 1 year low of $46.07 and a 1 year high of $85.76. The business’s 50 day simple moving average is $69.09 and its 200-day simple moving average is $69.79.

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

Marvell Technology Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. TD Cowen raised shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, September 16th. Morgan Stanley upped their price target 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. Barclays raised their price objective on Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Bank of America upped 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. Finally, 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 research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average target price of $91.62.

Insider Activity at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $73.88, for a total value of $110,820.00. Following the completion of the transaction, the chief financial officer now owns 109,318 shares in the company, valued at $8,076,413.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Willem A. Meintjes sold 1,500 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 value of $110,820.00. Following the completion of the transaction, the chief financial officer now directly owns 109,318 shares in the company, valued at approximately $8,076,413.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Casper sold 2,500 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $70.83, for a total value of $177,075.00. Following the sale, the executive vice president now directly owns 22,494 shares in the company, valued at $1,593,250.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,000 shares of company stock worth $8,130,685. Company insiders own 0.33% of the company’s stock.

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.