Advisors Asset Management Inc. Purchases 393 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Advisors Asset Management Inc. grew its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVLGet Rating) by 4.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,269 shares of the semiconductor company’s stock after acquiring an additional 393 shares during the quarter. Advisors Asset Management Inc.’s holdings in Marvell Technology were worth $447,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Waldron Private Wealth LLC bought a new position in shares of Marvell Technology during the first quarter valued at $218,000. Venture Visionary Partners LLC purchased a new stake in shares of Marvell Technology during the second quarter valued at $56,000. Equitable Trust Co. purchased a new stake in shares of Marvell Technology during the first quarter valued at $210,000. Visionary Wealth Advisors boosted its position in shares of Marvell Technology by 56.0% during the first quarter. Visionary Wealth Advisors now owns 4,151 shares of the semiconductor company’s stock valued at $298,000 after buying an additional 1,490 shares during the last quarter. Finally, Gilbert & Cook Inc. boosted its position in shares of Marvell Technology by 9.2% during the second quarter. Gilbert & Cook Inc. now owns 7,021 shares of the semiconductor company’s stock valued at $306,000 after buying an additional 589 shares during the last quarter. 80.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MRVL has been the topic of several recent analyst reports. Credit Suisse Group initiated coverage on Marvell Technology in a research report on Tuesday, November 15th. They set an “outperform” rating and a $56.00 price objective on the stock. Needham & Company LLC dropped their price objective on Marvell Technology from $66.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, October 11th. Barclays dropped their price objective on Marvell Technology from $80.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, July 25th. KeyCorp dropped their target price on Marvell Technology from $90.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, August 26th. Finally, Stifel Nicolaus dropped their target price on Marvell Technology from $78.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, September 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $77.14.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $44.00 on Friday. The company has a market cap of $37.51 billion, a P/E ratio of -169.23, a P/E/G ratio of 2.01 and a beta of 1.39. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.93 and a current ratio of 1.35. The business’s 50 day moving average price is $42.16 and its 200-day moving average price is $48.47. Marvell Technology, Inc. has a fifty-two week low of $35.30 and a fifty-two week high of $93.85.

Marvell Technology (NASDAQ:MRVLGet Rating) last posted its quarterly earnings data on Thursday, August 25th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. Marvell Technology had a positive return on equity of 7.94% and a negative net margin of 3.95%. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the business earned $0.21 EPS. Marvell Technology’s revenue was up 41.0% compared to the same quarter last year. Sell-side analysts predict that Marvell Technology, Inc. will post 1.6 earnings per share for the current year.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 26th. Shareholders of record on Friday, October 7th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Thursday, October 6th. Marvell Technology’s dividend payout ratio is -92.31%.

Insiders Place Their Bets

In other news, EVP Mitchell Gaynor sold 5,000 shares of the business’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $47.75, for a total value of $238,750.00. Following the completion of the transaction, the executive vice president now directly owns 108,429 shares of the company’s stock, valued at approximately $5,177,484.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Nariman Yousefi sold 10,000 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $45.00, for a total value of $450,000.00. Following the completion of the transaction, the executive vice president now directly owns 274,144 shares of the company’s stock, valued at approximately $12,336,480. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mitchell Gaynor sold 5,000 shares of the business’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $47.75, for a total value of $238,750.00. Following the completion of the transaction, the executive vice president now directly owns 108,429 shares of the company’s stock, valued at $5,177,484.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,000 shares of company stock worth $886,800. 0.45% of the stock is currently owned by company insiders.

Marvell Technology Company Profile

(Get Rating)

Marvell Technology, Inc, together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors.

Further Reading

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

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