Strengthening Families & Communities LLC Has $2.41 Million Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Strengthening Families & Communities LLC grew its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 8.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,428 shares of the semiconductor company’s stock after purchasing an additional 2,717 shares during the period. Strengthening Families & Communities LLC’s holdings in Marvell Technology were worth $2,411,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MRVL. Lazard Asset Management LLC raised its holdings in shares of Marvell Technology by 47,934.4% in the first quarter. Lazard Asset Management LLC now owns 4,001,745 shares of the semiconductor company’s stock valued at $283,643,000 after purchasing an additional 3,993,414 shares during the last quarter. Whale Rock Capital Management LLC acquired a new position in Marvell Technology during the first quarter worth $181,559,000. Ameriprise Financial Inc. increased its holdings in Marvell Technology by 24.1% during the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock worth $812,509,000 after buying an additional 2,254,610 shares during the last quarter. Swedbank AB increased its holdings in Marvell Technology by 653.5% during the second quarter. Swedbank AB now owns 2,334,015 shares of the semiconductor company’s stock worth $163,148,000 after buying an additional 2,024,269 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Marvell Technology by 13.4% during the first quarter. Janus Henderson Group PLC now owns 13,478,472 shares of the semiconductor company’s stock worth $955,400,000 after buying an additional 1,591,874 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Trading Down 3.2 %

MRVL opened at $87.83 on Monday. The company’s 50 day moving average is $78.89 and its 200-day moving average is $72.80. Marvell Technology, Inc. has a 1-year low of $50.35 and a 1-year high of $95.09. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. The company has a market cap of $77.83 billion, a P/E ratio of -79.13, a PEG ratio of 3.82 and a beta of 1.44.

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

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors 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 yield of 0.27%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.62%.

Insider Activity at Marvell Technology

In related news, CEO Matthew J. Murphy sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $73.29, for a total value of $439,740.00. Following the completion of the transaction, the chief executive officer now owns 208,915 shares in the company, valued at $15,311,380.35. This trade represents a 2.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the completion of the transaction, the insider now owns 694,487 shares of the company’s stock, valued at approximately $55,906,203.50. This trade represents a 17.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 259,500 shares of company stock worth $20,230,710 in the last quarter. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MRVL has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Marvell Technology from a “hold” rating to a “sell” rating in a report on Friday, October 18th. The Goldman Sachs Group upped their price objective on shares of Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a report on Friday, August 30th. Barclays upped their price objective on shares of Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Evercore ISI upped their price objective on shares of Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Finally, TD Cowen upgraded shares of Marvell Technology to a “strong-buy” rating in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average price target of $91.77.

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.