Pathstone Family Office LLC Grows Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Pathstone Family Office LLC raised its position in shares of Marvell Technology, Inc. (NASDAQ:MRVLFree Report) by 63.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,217 shares of the semiconductor company’s stock after purchasing an additional 12,107 shares during the period. Pathstone Family Office LLC’s holdings in Marvell Technology were worth $1,690,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Quilter Plc bought a new stake in shares of Marvell Technology in the 1st quarter worth approximately $248,250,000. SRS Capital Advisors Inc. raised its holdings in shares of Marvell Technology by 216.2% during the second quarter. SRS Capital Advisors Inc. now owns 411 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 281 shares during the period. West Tower Group LLC acquired a new stake in shares of Marvell Technology during the second quarter valued at approximately $25,000. Lindbrook Capital LLC raised its holdings in shares of Marvell Technology by 67.6% during the second quarter. Lindbrook Capital LLC now owns 429 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 173 shares during the period. Finally, Buck Wealth Strategies LLC raised its holdings in shares of Marvell Technology by 1,328.1% during the third quarter. Buck Wealth Strategies LLC now owns 457 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 425 shares during the period. 83.32% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Trading Down 3.1 %

Shares of Marvell Technology stock opened at $68.83 on Monday. The company has a current ratio of 1.58, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. The company has a 50-day simple moving average of $62.64 and a 200 day simple moving average of $57.85. Marvell Technology, Inc. has a 12-month low of $36.64 and a 12-month high of $73.53.

Marvell Technology (NASDAQ:MRVLGet Free Report) last issued its quarterly earnings data on Thursday, November 30th. The semiconductor company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. Marvell Technology had a negative net margin of 10.11% and a positive return on equity of 5.20%. The company’s revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 EPS. Analysts predict that Marvell Technology, Inc. will post 0.85 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, January 5th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Thursday, January 4th. Marvell Technology’s dividend payout ratio is -36.92%.

Insider Transactions at Marvell Technology

In other news, EVP Chris Koopmans sold 5,000 shares of Marvell Technology stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $57.33, for a total transaction of $286,650.00. Following the completion of the sale, the executive vice president now owns 129,492 shares in the company, valued at approximately $7,423,776.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Chris Koopmans sold 5,000 shares of Marvell Technology stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $57.33, for a total transaction of $286,650.00. Following the completion of the sale, the executive vice president now owns 129,492 shares in the company, valued at approximately $7,423,776.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Matthew J. Murphy sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $54.45, for a total transaction of $1,633,500.00. Following the transaction, the chief executive officer now owns 839,287 shares of the company’s stock, valued at approximately $45,699,177.15. The disclosure for this sale can be found here. Insiders sold a total of 201,000 shares of company stock worth $12,056,240 in the last quarter. 0.45% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MRVL shares. Roth Mkm started coverage on shares of Marvell Technology in a report on Tuesday, November 14th. They set a “buy” rating and a $60.00 price target on the stock. Morgan Stanley lowered their price objective on shares of Marvell Technology from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Friday, December 1st. Piper Sandler lowered their price objective on shares of Marvell Technology from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Friday, December 1st. Cantor Fitzgerald initiated coverage on shares of Marvell Technology in a research report on Tuesday, January 23rd. They set an “overweight” rating and a $80.00 price objective on the stock. Finally, Benchmark reaffirmed a “buy” rating and set a $75.00 price objective on shares of Marvell Technology in a report on Friday, December 1st. Two investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.96.

View Our Latest Stock Analysis on MRVL

Marvell Technology Profile

(Free Report)

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops, scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.

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Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)

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