Toroso Investments LLC Has $882,000 Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Toroso Investments LLC grew its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL – Get Rating) by 6.3% during the third quarter, HoldingsChannel.com reports. The firm owned 20,559 shares of the semiconductor company’s stock after purchasing an additional 1,221 shares during the period. Toroso Investments LLC’s holdings in Marvell Technology were worth $882,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MRVL. Fisher Asset Management LLC boosted its stake in shares of Marvell Technology by 2,626.8% during the third quarter. Fisher Asset Management LLC now owns 11,556,965 shares of the semiconductor company’s stock valued at $495,909,000 after purchasing an additional 11,133,134 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Marvell Technology by 16.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 36,482,866 shares of the semiconductor company’s stock valued at $1,588,099,000 after purchasing an additional 5,070,739 shares in the last quarter. FMR LLC raised its position in shares of Marvell Technology by 3.0% during the second quarter. FMR LLC now owns 124,827,357 shares of the semiconductor company’s stock worth $5,433,736,000 after acquiring an additional 3,663,148 shares during the last quarter. Fred Alger Management LLC acquired a new position in shares of Marvell Technology in the third quarter worth approximately $142,412,000. Finally, Voya Investment Management LLC acquired a new position in shares of Marvell Technology in the second quarter worth approximately $118,853,000. 81.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. UBS Group cut their price objective on Marvell Technology from $75.00 to $60.00 in a research note on Friday, March 3rd. Raymond James assumed coverage on Marvell Technology in a research note on Wednesday, March 1st. They issued an “outperform” rating and a $54.00 price objective on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on Marvell Technology from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, March 3rd. Citigroup cut their price objective on Marvell Technology from $65.00 to $58.00 in a research note on Friday, March 3rd. Finally, Piper Sandler lowered their target price on Marvell Technology from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, March 3rd. Three research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $58.54.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CAO Willem A. Meintjes sold 10,000 shares of the firm’s stock in a transaction on Friday, January 6th. The stock was sold at an average price of $34.92, for a total transaction of $349,200.00. Following the transaction, the chief accounting officer now directly owns 72,896 shares in the company, valued at approximately $2,545,528.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CAO Willem A. Meintjes sold 10,000 shares of Marvell Technology stock in a transaction on Friday, January 6th. The stock was sold at an average price of $34.92, for a total transaction of $349,200.00. Following the sale, the chief accounting officer now directly owns 72,896 shares in the company, valued at approximately $2,545,528.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dean E. Jr. Jarnac sold 6,000 shares of Marvell Technology stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $45.00, for a total value of $270,000.00. Following the sale, the executive vice president now owns 18,879 shares in the company, valued at $849,555. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,978 shares of company stock worth $2,881,891. Corporate insiders own 0.45% of the company’s stock.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $39.97 on Friday. The company has a current ratio of 1.37, a quick ratio of 0.93 and a debt-to-equity ratio of 0.25. The stock’s fifty day simple moving average is $42.73 and its two-hundred day simple moving average is $42.12. Marvell Technology, Inc. has a 1-year low of $33.75 and a 1-year high of $76.59. The stock has a market cap of $34.25 billion, a PE ratio of -210.37, a price-to-earnings-growth ratio of 11.74 and a beta of 1.47.

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 for the quarter, missing the consensus estimate of $0.47 by ($0.01). Marvell Technology had a negative net margin of 2.76% and a positive return on equity of 8.46%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the business posted $0.35 earnings per share. Marvell Technology’s revenue was up 5.6% on a year-over-year basis. As a group, analysts forecast that Marvell Technology, Inc. will post 0.96 EPS for the current fiscal 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 paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend is Wednesday, April 5th. Marvell Technology’s dividend payout ratio (DPR) is presently -126.32%.

About Marvell Technology

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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.