OneDigital Investment Advisors LLC Has $3.22 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

OneDigital Investment Advisors LLC increased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 89.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 44,578 shares of the semiconductor company’s stock after buying an additional 21,048 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Marvell Technology were worth $3,215,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MRVL. Quarry LP bought a new stake in Marvell Technology during the 2nd quarter valued at $32,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Marvell Technology during the second quarter valued at about $32,000. Whittier Trust Co. grew its holdings in shares of Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 210 shares during the last quarter. Exchange Traded Concepts LLC increased its position in shares of Marvell Technology by 125.4% during the third quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 336 shares in the last quarter. Finally, Unique Wealth Strategies LLC acquired a new stake in shares of Marvell Technology in the 2nd quarter worth about $45,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the company. The Goldman Sachs Group boosted their price objective on Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 price target (up from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. Citigroup reaffirmed a “buy” rating and set a $91.00 price objective on shares of Marvell Technology in a report on Monday, October 14th. Morgan Stanley increased their target price on shares of Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, August 30th. Finally, StockNews.com cut shares of Marvell Technology from a “hold” rating to a “sell” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.77.

Marvell Technology Price Performance

MRVL opened at $87.83 on Friday. The firm has a 50-day moving average price of $78.89 and a 200-day moving average price of $72.74. Marvell Technology, Inc. has a twelve month low of $50.35 and a twelve month high of $95.09. 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 has a market capitalization of $77.83 billion, a price-to-earnings ratio of -79.13, a PEG ratio of 3.91 and a beta of 1.44.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share 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 company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the business earned $0.18 earnings per share. The firm’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 year.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend was Friday, October 11th. Marvell Technology’s dividend payout ratio is presently -21.62%.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $73.87, for a total value of $110,805.00. Following the completion of the transaction, the chief financial officer now owns 111,753 shares of the company’s stock, valued at $8,255,194.11. The trade was a 1.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 owns 109,244 shares of the company’s stock, valued at $8,823,637.88. This trade represents a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 259,500 shares of company stock valued at $20,230,710. 0.33% of the stock is currently owned by corporate insiders.

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.