Exchange Traded Concepts LLC Increases Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Exchange Traded Concepts LLC increased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 125.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 604 shares of the semiconductor company’s stock after buying an additional 336 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Marvell Technology were worth $44,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC acquired a new position in shares of Marvell Technology in the 1st quarter valued at about $31,000. Quarry LP purchased a new stake in Marvell Technology during the second quarter worth approximately $32,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Marvell Technology in the second quarter worth $32,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Marvell Technology in the 1st quarter valued at $35,000. Finally, Unique Wealth Strategies LLC acquired a new position in shares of Marvell Technology during the 2nd quarter valued at $45,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Performance

Shares of MRVL opened at $81.83 on Thursday. The stock has a market capitalization of $70.83 billion, a PE ratio of -72.42, a price-to-earnings-growth ratio of 3.17 and a beta of 1.45. The business’s fifty day moving average price is $73.17 and its 200 day moving average price is $70.42. 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 12-month low of $46.07 and a 12-month high of $85.76.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the firm posted $0.18 EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. Equities research analysts forecast 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. Stockholders 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 dividend yield of 0.29%. The ex-dividend date is Friday, October 11th. Marvell Technology’s payout ratio is -21.24%.

Insider Buying and Selling

In related news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.77, for a total transaction of $484,620.00. Following the completion of the transaction, the executive vice president now directly owns 109,244 shares in the company, valued at $8,823,637.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Ford Tamer sold 92,000 shares of Marvell Technology stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $74.16, for a total transaction of $6,822,720.00. Following the sale, the director now owns 351,193 shares of the company’s stock, valued at approximately $26,044,472.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the completion of the transaction, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at $8,823,637.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 261,000 shares of company stock valued at $20,330,835. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on MRVL. 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 report on Friday, August 30th. Needham & Company LLC reiterated a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a report on Friday, August 30th. 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 report on Friday, August 30th. StockNews.com lowered shares of Marvell Technology from a “hold” rating to a “sell” rating in a research note on Friday, October 18th. Finally, Evercore ISI boosted their target price on shares of Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $91.62.

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.