Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by Cwm LLC

Cwm LLC boosted its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 17.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,122 shares of the semiconductor company’s stock after buying an additional 3,760 shares during the period. Cwm LLC’s holdings in Marvell Technology were worth $1,812,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Centaurus Financial Inc. lifted its stake in Marvell Technology by 6.1% during the fourth quarter. Centaurus Financial Inc. now owns 4,513 shares of the semiconductor company’s stock worth $272,000 after purchasing an additional 260 shares in the last quarter. Syon Capital LLC purchased a new stake in shares of Marvell Technology in the 4th quarter valued at $217,000. American International Group Inc. raised its holdings in shares of Marvell Technology by 1.5% in the 4th quarter. American International Group Inc. now owns 66,986 shares of the semiconductor company’s stock valued at $4,040,000 after buying an additional 993 shares during the period. ICA Group Wealth Management LLC purchased a new position in Marvell Technology during the 4th quarter valued at about $141,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Marvell Technology by 5.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 60,016 shares of the semiconductor company’s stock valued at $3,620,000 after acquiring an additional 3,109 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Matthew J. Murphy sold 6,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $73.29, for a total value of $439,740.00. Following the completion of the sale, the chief executive officer now directly owns 208,915 shares of the company’s stock, valued at approximately $15,311,380.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business’s 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 approximately $7,559,637.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew J. Murphy sold 6,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $73.29, for a total transaction of $439,740.00. Following the transaction, the chief executive officer now owns 208,915 shares of the company’s stock, valued at approximately $15,311,380.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,500 shares of company stock valued at $7,650,465. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $79.41 on Wednesday. The stock’s 50-day moving average is $70.30 and its two-hundred day moving average is $69.98. 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, Inc. has a 1 year low of $46.07 and a 1 year high of $85.76. The firm has a market cap of $68.74 billion, a price-to-earnings ratio of -70.27, a PEG ratio of 3.17 and a beta of 1.45.

Marvell Technology (NASDAQ:MRVL) last released 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 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 the consensus estimate of $1.25 billion. During the same quarter last year, the business posted $0.18 EPS. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. Analysts predict that Marvell Technology, Inc. will post 0.78 earnings per share for the current year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Friday, October 11th. Marvell Technology’s dividend payout ratio is currently -21.24%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, October 10th. Evercore ISI raised their price target on shares of Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. The Goldman Sachs Group upped their price objective on Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Morgan Stanley lifted their target price on Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, August 30th. Finally, Piper Sandler restated an “overweight” rating and set a $100.00 price target on shares of Marvell Technology in a report on Friday, August 30th. Two research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.