Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by Fisher Asset Management LLC

Fisher Asset Management LLC raised its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 2.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,203,310 shares of the semiconductor company’s stock after buying an additional 56,606 shares during the quarter. Fisher Asset Management LLC owned about 0.25% of Marvell Technology worth $158,903,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP bought a new position in shares of Marvell Technology during the second quarter valued at approximately $32,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Marvell Technology during the second quarter valued at approximately $32,000. Whittier Trust Co. grew its holdings in shares of Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 210 shares during the last quarter. Briaud Financial Planning Inc bought a new position in shares of Marvell Technology during the third quarter valued at approximately $43,000. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Marvell Technology by 125.4% during the third quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 336 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MRVL. Rosenblatt Securities upped their target price on Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 30th. Roth Mkm reissued a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a report on Friday, August 30th. Evercore ISI increased their price objective on Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 price objective (up from $90.00) on shares of Marvell Technology in a report on Friday, August 30th. Finally, TD Cowen raised Marvell Technology to a “strong-buy” rating in a report on Monday, September 16th. Three equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $91.77.

Insider Activity

In other news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the completion of the sale, the executive vice president now owns 103,244 shares in the company, valued at $9,203,170.16. This represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $73.87, for a total value of $110,805.00. Following the completion of the sale, the chief financial officer now owns 111,753 shares of the company’s stock, valued at $8,255,194.11. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 267,000 shares of company stock worth $20,899,260 over the last quarter. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $92.24 on Tuesday. Marvell Technology, Inc. has a one year low of $50.35 and a one year high of $95.09. The stock has a fifty day moving average of $80.67 and a 200-day moving average of $73.59. The company has a market capitalization 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. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79.

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

Marvell Technology Dividend Announcement

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

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.