Marvell Technology, Inc. (NASDAQ:MRVL) Position Increased by Industrial Alliance Investment Management Inc.

Industrial Alliance Investment Management Inc. raised its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL – Get Rating) by 4.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 53,146 shares of the semiconductor company’s stock after buying an additional 2,161 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in Marvell Technology were worth $2,280,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Guardian Wealth Advisors LLC purchased a new stake in Marvell Technology during the third quarter valued at about $26,000. TimeScale Financial Inc. lifted its stake in Marvell Technology by 2,480.6% during the third quarter. TimeScale Financial Inc. now owns 800 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 769 shares in the last quarter. Asset Dedication LLC purchased a new stake in Marvell Technology during the third quarter valued at about $35,000. AlphaCentric Advisors LLC purchased a new stake in Marvell Technology during the third quarter valued at about $35,000. Finally, Worth Asset Management LLC purchased a new stake in Marvell Technology during the first quarter valued at about $40,000. 81.28% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Stock Up 7.3 %

Shares of MRVL stock opened at $40.36 on Friday. The stock has a market cap of $34.58 billion, a P/E ratio of -212.42, a price-to-earnings-growth ratio of 11.49 and a beta of 1.47. Marvell Technology, Inc. has a one year low of $33.75 and a one year high of $76.59. The stock has a fifty day moving average price of $42.65 and a 200 day moving average price of $42.22. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.37 and a quick ratio of 0.93.

Marvell Technology (NASDAQ:MRVL – Get Rating) last issued its quarterly earnings data on Thursday, March 2nd. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.41 billion. Marvell Technology had a negative net margin of 2.76% and a positive return on equity of 8.46%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.35 earnings per share. Analysts predict that Marvell Technology, Inc. will post 0.96 earnings per share for the current year.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 26th. Shareholders of record on Friday, April 7th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.59%. Marvell Technology’s payout ratio is presently -126.32%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MRVL. Rosenblatt Securities reduced their price objective on shares of Marvell Technology from $125.00 to $100.00 in a research note on Friday, March 3rd. Barclays reduced their price target on shares of Marvell Technology from $55.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, January 23rd. Craig Hallum reduced their price target on shares of Marvell Technology from $90.00 to $63.00 in a research report on Friday, December 2nd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Marvell Technology from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, March 3rd. Finally, Wells Fargo & Company reduced their price target on shares of Marvell Technology from $58.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, December 2nd. Three analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $58.54.

Insider Buying and Selling at Marvell Technology

In related news, CAO Willem A. Meintjes sold 10,000 shares of Marvell Technology stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $34.92, for a total value of $349,200.00. Following the completion of the transaction, the chief accounting officer now directly owns 72,896 shares of the company’s stock, valued at $2,545,528.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Muhammad Raghib Hussain sold 46,200 shares of Marvell Technology stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $42.22, for a total value of $1,950,564.00. Following the completion of the transaction, the insider now directly owns 757,342 shares of the company’s stock, valued at $31,974,979.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Willem A. Meintjes sold 10,000 shares of Marvell Technology stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $34.92, for a total value of $349,200.00. Following the completion of the transaction, the chief accounting officer now directly owns 72,896 shares of the company’s stock, valued at $2,545,528.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,978 shares of company stock valued at $2,881,891. 0.45% of the stock is currently owned by company insiders.

Marvell Technology Profile

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Marvell Technology, Inc engages in the provision of data infrastructure semiconductor solutions. It offers compute, networking, storage, and custom solutions. The firm designs, develops, and sells integrated circuits. The company was founded by Wei Li Dai, Pantas Sutardja, and Sehat Sutardja in 1995 and is headquartered in Wilmington, DE.