Marvell Technology, Inc. (NASDAQ:MRVL) Holdings Lifted by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 15.0% during the third quarter, Holdings Channel.com reports. The fund owned 133,517 shares of the semiconductor company’s stock after acquiring an additional 17,415 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Marvell Technology were worth $9,629,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Citizens Financial Group Inc. RI grew its holdings in shares of Marvell Technology by 1.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock worth $566,000 after acquiring an additional 116 shares during the last quarter. Crumly & Associates Inc. increased its stake in Marvell Technology by 1.5% in the 3rd quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock worth $593,000 after purchasing an additional 121 shares in the last quarter. United Capital Management of KS Inc. increased its stake in Marvell Technology by 0.4% in the 3rd quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock worth $2,470,000 after purchasing an additional 131 shares in the last quarter. Tlwm raised its holdings in Marvell Technology by 1.6% during the 2nd quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock worth $601,000 after buying an additional 136 shares during the period. Finally, ASB Consultores LLC lifted its stake in Marvell Technology by 3.8% during the third quarter. ASB Consultores LLC now owns 3,824 shares of the semiconductor company’s stock valued at $276,000 after buying an additional 140 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Marvell Technology news, Director Ford Tamer sold 92,000 shares of the firm’s stock in a transaction on 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 sale, the director now directly owns 351,193 shares in the company, valued at $26,044,472.88. This trade represents a 20.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mark Casper sold 2,500 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $70.83, for a total transaction of $177,075.00. Following the completion of the sale, the executive vice president now owns 22,494 shares of the company’s stock, valued at approximately $1,593,250.02. The trade was a 10.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 267,000 shares of company stock valued at $20,899,260 in the last three months. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

MRVL has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Friday. Citigroup restated a “buy” rating and issued a $91.00 target price on shares of Marvell Technology in a report on Monday, October 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 price target on shares of Marvell Technology in a research report on Friday, August 30th. Rosenblatt Securities raised their price objective on Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Three investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.77.

Marvell Technology Trading Down 0.3 %

Shares of MRVL stock opened at $92.24 on Tuesday. The business’s 50 day moving average is $80.67 and its two-hundred day moving average is $73.59. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. Marvell Technology, Inc. has a 12 month low of $50.35 and a 12 month high of $95.09. The company has a market cap of $81.74 billion, a PE ratio of -83.10, a price-to-earnings-growth ratio of 4.02 and a beta of 1.44.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter last year, the firm posted $0.18 EPS. The business’s quarterly revenue was down 5.1% on a year-over-year basis. Equities analysts predict that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date was Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is currently -21.62%.

About Marvell Technology

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.