Cetera Investment Advisers Has $13.92 Million Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Cetera Investment Advisers boosted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 13.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,109 shares of the semiconductor company’s stock after purchasing an additional 23,591 shares during the period. Cetera Investment Advisers’ holdings in Marvell Technology were worth $13,918,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of MRVL. Bruce G. Allen Investments LLC grew its stake in shares of Marvell Technology by 56.4% during the first 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 during the last quarter. Salomon & Ludwin LLC bought a new position in Marvell Technology in the 1st quarter valued at $31,000. Quarry LP acquired a new stake in shares of Marvell Technology in the 2nd quarter valued at $32,000. Optimum Investment Advisors acquired a new position in shares of Marvell Technology during the first quarter valued at $35,000. Finally, Mark Sheptoff Financial Planning LLC bought a new position in Marvell Technology in the first quarter valued at about $35,000. Institutional investors own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In related news, insider Muhammad Raghib Hussain sold 50,000 shares of Marvell Technology stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $75.00, for a total value of $3,750,000.00. Following the sale, the insider now owns 838,571 shares of the company’s stock, valued at approximately $62,892,825. The trade was a 0.00 % decrease in their ownership of the stock. 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, insider Muhammad Raghib Hussain sold 50,000 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the sale, the insider now directly owns 838,571 shares of the company’s stock, valued at approximately $62,892,825. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $70.83, for a total transaction of $177,075.00. Following the completion of the transaction, the executive vice president now directly owns 22,494 shares of the company’s stock, valued at approximately $1,593,250.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 160,000 shares of company stock worth $11,880,685 in the last three months. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on MRVL shares. Bank of America boosted their price objective on Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Benchmark increased their price objective on shares of Marvell Technology from $105.00 to $115.00 and gave the company a “buy” 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 report on Wednesday. The Goldman Sachs Group upped their target price on shares of Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, Needham & Company LLC restated a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a research report on Friday, August 30th. One equities 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’s stock. Based on data from MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus price target of $91.62.

Marvell Technology Stock Performance

MRVL opened at $73.41 on Friday. The company has a market capitalization of $63.54 billion, a price-to-earnings ratio of -64.96, a P/E/G ratio of 3.12 and a beta of 1.45. The business’s 50-day moving average price is $68.91 and its two-hundred day moving average price is $69.68. Marvell Technology, Inc. has a 1 year low of $46.07 and a 1 year high of $85.76. 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 (NASDAQ:MRVL) last released its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting 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 firm 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 business posted $0.18 EPS. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. Equities analysts expect that Marvell Technology, Inc. will post 0.78 EPS 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. The ex-dividend date is Friday, October 11th. This represents a $0.24 annualized dividend and a yield of 0.33%. Marvell Technology’s dividend payout ratio (DPR) is presently -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.