Amalgamated Bank Raises Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Amalgamated Bank grew its position in shares of Marvell Technology, Inc. (NASDAQ:MRVLFree Report) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,862 shares of the semiconductor company’s stock after purchasing an additional 945 shares during the quarter. Amalgamated Bank’s holdings in Marvell Technology were worth $4,594,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of MRVL. Moneta Group Investment Advisors LLC increased its position in shares of Marvell Technology by 118,898.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 62,452,538 shares of the semiconductor company’s stock valued at $2,313,242,000 after purchasing an additional 62,400,056 shares during the last quarter. Capital Research Global Investors grew its position in Marvell Technology by 13,107.9% during the 2nd quarter. Capital Research Global Investors now owns 32,634,677 shares of the semiconductor company’s stock worth $1,950,859,000 after acquiring an additional 32,387,593 shares during the last quarter. Matrix Capital Management Company LP bought a new position in Marvell Technology during the 2nd quarter worth approximately $510,085,000. BlackRock Inc. grew its position in Marvell Technology by 10.9% during the 2nd quarter. BlackRock Inc. now owns 58,468,789 shares of the semiconductor company’s stock worth $3,495,264,000 after acquiring an additional 5,739,560 shares during the last quarter. Finally, Norges Bank bought a new position in Marvell Technology during the 4th quarter worth approximately $188,566,000. 83.32% of the stock is currently owned by institutional investors.

Marvell Technology Stock Up 3.4 %

Shares of NASDAQ:MRVL opened at $69.37 on Thursday. The stock has a fifty day simple moving average of $62.01 and a two-hundred day simple moving average of $57.81. The stock has a market capitalization of $59.97 billion, a price-to-earnings ratio of -106.72, a PEG ratio of 6.81 and a beta of 1.52. Marvell Technology, Inc. has a 12-month low of $36.64 and a 12-month high of $73.53. The company has a current ratio of 1.58, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27.

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

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Friday, January 5th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Thursday, January 4th. Marvell Technology’s payout ratio is currently -36.92%.

Insider Buying and Selling

In related news, CFO Willem A. Meintjes sold 1,000 shares of Marvell Technology stock in a transaction on Friday, January 5th. The stock was sold at an average price of $60.00, for a total value of $60,000.00. Following the completion of the sale, the chief financial officer now owns 99,730 shares of the company’s stock, valued at $5,983,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $57.33, for a total value of $286,650.00. Following the transaction, the executive vice president now directly owns 129,492 shares in the company, valued at $7,423,776.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,000 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $60.00, for a total value of $60,000.00. Following the completion of the transaction, the chief financial officer now owns 99,730 shares in the company, valued at $5,983,800. The disclosure for this sale can be found here. Insiders sold 201,000 shares of company stock valued at $12,056,240 over the last 90 days. Company insiders own 0.45% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on MRVL. Citigroup raised their price target on Marvell Technology from $61.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, January 12th. Roth Mkm began coverage on Marvell Technology in a research report on Tuesday, November 14th. They set a “buy” rating and a $60.00 price target on the stock. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 25th. Morgan Stanley dropped their price objective on Marvell Technology from $65.00 to $63.00 and set an “equal weight” rating for the company in a report on Friday, December 1st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price objective on shares of Marvell Technology in a report on Thursday, November 30th. Two research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $69.96.

Get Our Latest Analysis on Marvell Technology

Marvell Technology Company 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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