Valley National Advisers Inc. Has $1.81 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Valley National Advisers Inc. raised its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 17,168.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,039 shares of the semiconductor company’s stock after acquiring an additional 24,894 shares during the quarter. Valley National Advisers Inc.’s holdings in Marvell Technology were worth $1,805,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC acquired a new stake in Marvell Technology in the first quarter valued at approximately $31,000. Quarry LP acquired a new stake in Marvell Technology in the second quarter valued at approximately $32,000. Strategic Investment Solutions Inc. IL acquired a new stake in Marvell Technology in the second quarter valued at approximately $32,000. Whittier Trust Co. lifted its stake in Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 210 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC acquired a new stake in Marvell Technology in the first quarter valued at approximately $35,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $66.75, for a total transaction of $100,125.00. Following the transaction, the chief financial officer now owns 113,253 shares of the company’s stock, valued at $7,559,637.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the completion of the sale, the executive vice president now directly owns 109,244 shares in the company, valued at $8,823,637.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $66.75, for a total value of $100,125.00. Following the transaction, the chief financial officer now owns 113,253 shares of the company’s stock, valued at approximately $7,559,637.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 261,000 shares of company stock valued at $20,330,835 over the last 90 days. 0.33% of the stock is owned by company insiders.

Marvell Technology Stock Performance

Shares of NASDAQ:MRVL opened at $81.61 on Friday. The business’s fifty day moving average price is $73.67 and its two-hundred day moving average price is $70.55. Marvell Technology, Inc. has a fifty-two week low of $46.07 and a fifty-two week high of $85.76. The stock has a market capitalization of $72.32 billion, a price-to-earnings ratio of -73.52, a price-to-earnings-growth ratio of 3.62 and a beta of 1.45. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26.

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

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -21.62%.

Analysts Set New Price Targets

MRVL has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 price target on shares of Marvell Technology in a research report on Friday, August 30th. Piper Sandler reissued an “overweight” rating and issued a $100.00 price target on shares of Marvell Technology in a research report on Friday, August 30th. Citigroup reissued a “buy” rating and issued a $91.00 price target on shares of Marvell Technology in a research report on Monday, October 14th. Finally, StockNews.com lowered shares of Marvell Technology from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.62.

Marvell Technology Company 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.