Symmetry Investments LP Has $3.39 Million Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Symmetry Investments LP decreased its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 33.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,500 shares of the semiconductor company’s stock after selling 24,274 shares during the quarter. Symmetry Investments LP’s holdings in Marvell Technology were worth $3,390,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC increased its position in shares of Marvell Technology by 56.4% in the first 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 during the period. Salomon & Ludwin LLC bought a new position in Marvell Technology in the 1st quarter valued at about $31,000. Optimum Investment Advisors bought a new position in Marvell Technology in the 1st quarter valued at about $35,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Marvell Technology in the 1st quarter valued at approximately $35,000. Finally, Bogart Wealth LLC boosted its position in shares of Marvell Technology by 1,480.0% during the 1st quarter. Bogart Wealth LLC now owns 632 shares of the semiconductor company’s stock worth $45,000 after acquiring an additional 592 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

MRVL has been the subject of several recent analyst reports. The Goldman Sachs Group upped their target price on Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Roth Mkm reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. Stifel Nicolaus reissued a “buy” rating and set a $95.00 target price (up previously from $90.00) on shares of Marvell Technology in a research note on Friday, August 30th. Oppenheimer restated an “outperform” rating and issued a $90.00 target price (up previously from $80.00) on shares of Marvell Technology in a research report on Friday, May 31st. Finally, Rosenblatt Securities upped their price target on 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.62.

Marvell Technology Price Performance

Marvell Technology stock opened at $73.87 on Friday. The stock has a market cap of $63.94 billion, a P/E ratio of -65.37, a P/E/G ratio of 3.29 and a beta of 1.46. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The company’s 50 day moving average price is $68.20 and its two-hundred day moving average price is $69.78. Marvell Technology, Inc. has a 52 week low of $46.07 and a 52 week high of $85.76.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The business’s revenue was down 5.1% on a year-over-year basis. On average, equities analysts predict that Marvell Technology, Inc. will post 0.77 earnings per share for the current year.

Marvell Technology Dividend Announcement

The business 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 dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.32%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

Insiders Place Their Bets

In related news, Director Daniel Durn purchased 1,425 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was bought at an average price of $70.21 per share, for a total transaction of $100,049.25. Following the purchase, the director now directly owns 1,923 shares in the company, valued at approximately $135,013.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Daniel Durn purchased 1,425 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were purchased at an average price of $70.21 per share, with a total value of $100,049.25. Following the transaction, the director now directly owns 1,923 shares of the company’s stock, valued at $135,013.83. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $66.75, for a total value of $100,125.00. Following the completion of the sale, the chief financial officer now directly owns 113,253 shares of the company’s stock, valued at approximately $7,559,637.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 160,000 shares of company stock valued at $11,878,785. 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.