Assetmark Inc. Boosts Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Assetmark Inc. lifted its position in Marvell Technology, Inc. (NASDAQ:MRVLGet Rating) by 86.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,929 shares of the semiconductor company’s stock after purchasing an additional 892 shares during the quarter. Assetmark Inc.’s holdings in Marvell Technology were worth $83,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MRVL. Canton Hathaway LLC purchased a new stake in Marvell Technology during the 2nd quarter valued at about $28,000. Arlington Partners LLC purchased a new stake in Marvell Technology during the 2nd quarter valued at about $29,000. Deseret Mutual Benefit Administrators boosted its holdings in Marvell Technology by 140.3% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 668 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 390 shares during the period. Crewe Advisors LLC boosted its holdings in Marvell Technology by 38.5% during the 2nd quarter. Crewe Advisors LLC now owns 734 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 204 shares during the period. Finally, TimeScale Financial Inc. boosted its holdings in Marvell Technology by 2,480.6% during the 3rd quarter. TimeScale Financial Inc. now owns 800 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 769 shares during the period. 81.28% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Stock Performance

MRVL stock opened at $39.48 on Friday. The company has a market cap of $33.68 billion, a P/E ratio of -246.75, a price-to-earnings-growth ratio of 2.49 and a beta of 1.45. Marvell Technology, Inc. has a 1 year low of $33.75 and a 1 year high of $78.19. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.31 and a quick ratio of 0.92. The stock’s fifty day moving average price is $40.30 and its 200-day moving average price is $44.43.

Marvell Technology (NASDAQ:MRVLGet Rating) last released its quarterly earnings results on Thursday, December 1st. The semiconductor company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Marvell Technology had a positive return on equity of 8.50% and a negative net margin of 2.43%. On average, equities analysts forecast that Marvell Technology, Inc. will post 1.5 earnings per share for the current year.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Friday, January 6th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, January 5th. This represents a $0.24 annualized dividend and a yield of 0.61%. Marvell Technology’s dividend payout ratio (DPR) is presently -150.00%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. KeyCorp dropped their price objective on Marvell Technology from $75.00 to $65.00 in a report on Friday, December 2nd. Raymond James dropped their price objective on Marvell Technology from $80.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, December 2nd. Susquehanna Bancshares dropped their price objective on Marvell Technology to $60.00 in a report on Friday, December 2nd. Barclays dropped their price objective on Marvell Technology from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Marvell Technology from $65.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, October 18th. Four investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.92.

Insider Activity at Marvell Technology

In related 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 transaction, the chief accounting officer now directly owns 72,896 shares in the company, valued at $2,545,528.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.45% of the stock is owned by company insiders.

Marvell Technology Company Profile

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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.

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

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