Atomi Financial Group Inc. Purchases 4,626 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Atomi Financial Group Inc. boosted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 34.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 17,966 shares of the semiconductor company’s stock after purchasing an additional 4,626 shares during the period. Atomi Financial Group Inc.’s holdings in Marvell Technology were worth $1,296,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MRVL. Bruce G. Allen Investments LLC grew its position in Marvell Technology by 56.4% in the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 141 shares in the last quarter. Salomon & Ludwin LLC bought a new position in shares of Marvell Technology during the 1st quarter valued at approximately $31,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Marvell Technology during the 2nd quarter valued at approximately $32,000. Quarry LP bought a new position in shares of Marvell Technology during the 2nd quarter valued at approximately $32,000. Finally, Optimum Investment Advisors bought a new position in shares of Marvell Technology during the 1st quarter valued at approximately $35,000. 83.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MRVL shares. Roth Mkm reissued a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. Stifel Nicolaus reissued a “buy” rating and set a $95.00 target price (up from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. Morgan Stanley increased their target price on shares of Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. TD Cowen raised shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $91.62.

Insider Buying and Selling

In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $66.75, for a total value of $100,125.00. Following the transaction, the chief financial officer now directly owns 113,253 shares of the company’s stock, valued at $7,559,637.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Chris Koopmans sold 5,000 shares of Marvell Technology stock in a transaction on Monday, July 15th. The shares were sold at an average price of $73.88, for a total value of $369,400.00. Following the transaction, the executive vice president now directly owns 110,318 shares of the company’s stock, valued at $8,150,293.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $66.75, for a total transaction of $100,125.00. Following the completion of the sale, the chief financial officer now owns 113,253 shares in the company, valued at approximately $7,559,637.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,000 shares of company stock valued at $8,130,685 over the last three months. 0.33% of the stock is owned by company insiders.

Marvell Technology Trading Down 0.8 %

Shares of MRVL opened at $73.11 on Wednesday. The firm’s 50 day simple moving average is $69.30 and its 200 day simple moving average is $69.84. The company has a market capitalization of $63.28 billion, a P/E ratio of -64.70, a P/E/G ratio of 3.12 and a beta of 1.45. 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, Inc. has a 1-year low of $46.07 and a 1-year high of $85.76.

Marvell Technology (NASDAQ:MRVL) last announced 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 the consensus estimate of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. Marvell Technology’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period last year, the firm posted $0.18 earnings per share. Sell-side analysts forecast that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently announced 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 dividend yield of 0.33%. The ex-dividend date of this dividend is Friday, October 11th. Marvell Technology’s payout ratio is -21.24%.

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.