Sunflower Bank N.A. Acquires Shares of 2,865 Marvell Technology, Inc. (NASDAQ:MRVL)

Sunflower Bank N.A. bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,865 shares of the semiconductor company’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tlwm grew its holdings in shares of Marvell Technology by 1.6% in the 2nd quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock worth $601,000 after purchasing an additional 136 shares during the last quarter. Bruce G. Allen Investments LLC grew its position in Marvell Technology by 56.4% during the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 141 shares during the last quarter. Parisi Gray Wealth Management increased its holdings in Marvell Technology by 4.2% during the 3rd quarter. Parisi Gray Wealth Management now owns 4,161 shares of the semiconductor company’s stock valued at $300,000 after purchasing an additional 166 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its stake in Marvell Technology by 0.4% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 44,342 shares of the semiconductor company’s stock worth $3,143,000 after purchasing an additional 168 shares in the last quarter. Finally, Pathway Financial Advisers LLC increased its stake in shares of Marvell Technology by 1.2% in the second quarter. Pathway Financial Advisers LLC now owns 14,601 shares of the semiconductor company’s stock valued at $1,019,000 after buying an additional 169 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL traded up $1.53 during midday trading on Friday, hitting $74.01. 7,650,713 shares of the company’s stock were exchanged, compared to its average volume of 12,326,448. Marvell Technology, Inc. has a 12 month low of $46.07 and a 12 month high of $85.76. The company’s 50 day moving average price is $69.90 and its 200 day moving average price is $69.94. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $64.06 billion, a PE ratio of -65.50, a price-to-earnings-growth ratio of 3.17 and a beta of 1.45.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The company’s revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 earnings per share. As a group, analysts predict that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th 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 0.32%. The ex-dividend date is Friday, October 11th. Marvell Technology’s dividend payout ratio is currently -21.24%.

Insider Transactions at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $70.83, for a total transaction of $177,075.00. Following the transaction, the executive vice president now owns 22,494 shares in the company, valued at $1,593,250.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Mark Casper sold 2,500 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $70.83, for a total transaction of $177,075.00. Following the sale, the executive vice president now directly owns 22,494 shares of the company’s stock, valued at approximately $1,593,250.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ford Tamer sold 92,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $74.16, for a total value of $6,822,720.00. Following the completion of the transaction, the director now directly owns 351,193 shares of the company’s stock, valued at approximately $26,044,472.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,000 shares of company stock valued at $8,130,685. 0.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Bank of America boosted their price objective on shares of Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Barclays lifted their price target on shares of Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Stifel Nicolaus reiterated a “buy” rating and set a $95.00 target price (up previously from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. TD Cowen raised shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Morgan Stanley boosted their price objective on Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. Two investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.62.

Marvell Technology Profile

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.