Creative Planning Has $7.48 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Creative Planning lifted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 37.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,740 shares of the semiconductor company’s stock after buying an additional 28,286 shares during the quarter. Creative Planning’s holdings in Marvell Technology were worth $7,482,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Salomon & Ludwin LLC acquired a new stake in Marvell Technology in the 1st quarter valued at approximately $31,000. Quarry LP acquired a new position in shares of Marvell Technology during the second quarter worth approximately $32,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Marvell Technology in the second quarter valued at approximately $32,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Marvell Technology in the first quarter worth $35,000. Finally, Exchange Traded Concepts LLC grew its stake in shares of Marvell Technology by 125.4% in the third quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 336 shares during the last quarter. 83.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Rosenblatt Securities increased their price target on shares of Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 30th. Benchmark upped their price objective on shares of Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, August 30th. StockNews.com cut Marvell Technology from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. KeyCorp raised their target price on Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Finally, Roth Mkm restated a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to 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 related news, insider Muhammad Raghib Hussain sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the transaction, the insider now directly owns 694,487 shares of the company’s stock, valued at approximately $55,906,203.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred 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 directly owns 113,253 shares in the company, valued at $7,559,637.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $12,075,000.00. Following the completion of the transaction, the insider now directly owns 694,487 shares in the company, valued at $55,906,203.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 261,000 shares of company stock worth $20,330,835 over the last 90 days. Company insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

NASDAQ MRVL opened at $81.83 on Thursday. The stock has a market cap of $70.83 billion, a price-to-earnings ratio of -72.42, a PEG ratio of 3.17 and a beta of 1.45. Marvell Technology, Inc. has a 52-week low of $46.07 and a 52-week high of $85.76. The business has a 50 day simple moving average of $73.17 and a 200 day simple moving average of $70.42. 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 issued its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 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 firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the firm posted $0.18 EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. Analysts anticipate that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend is Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

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.