Sax Wealth Advisors LLC Purchases 4,803 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Sax Wealth Advisors LLC increased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 75.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,140 shares of the semiconductor company’s stock after buying an additional 4,803 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Marvell Technology were worth $803,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MRVL. American International Group Inc. grew its stake in Marvell Technology by 1.5% in the fourth quarter. American International Group Inc. now owns 66,986 shares of the semiconductor company’s stock valued at $4,040,000 after purchasing an additional 993 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Marvell Technology by 5.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 60,016 shares of the semiconductor company’s stock valued at $3,620,000 after buying an additional 3,109 shares during the last quarter. HighPoint Advisor Group LLC acquired a new stake in shares of Marvell Technology in the fourth quarter valued at approximately $419,000. CWM LLC lifted its position in shares of Marvell Technology by 10.3% in the first quarter. CWM LLC now owns 15,761 shares of the semiconductor company’s stock valued at $1,117,000 after buying an additional 1,472 shares during the last quarter. Finally, NBC Securities Inc. lifted its position in shares of Marvell Technology by 124.8% in the first quarter. NBC Securities Inc. now owns 1,938 shares of the semiconductor company’s stock valued at $137,000 after buying an additional 1,076 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Benchmark raised their price objective on Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Rosenblatt Securities lifted their price target on Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 30th. StockNews.com cut Marvell Technology from a “hold” rating to a “sell” rating in a report on Friday. Barclays lifted their price target on Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Finally, KeyCorp lifted their price target on Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty have issued 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 an average target price of $91.62.

Insider Buying and Selling

In related news, CFO Willem A. Meintjes sold 1,500 shares of the business’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 sale, the chief financial officer now owns 113,253 shares in the company, valued at $7,559,637.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Willem A. Meintjes sold 1,500 shares of the business’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 sale, the chief financial officer now owns 113,253 shares in the company, valued at $7,559,637.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $12,075,000.00. Following the sale, the insider now owns 694,487 shares in the company, valued at $55,906,203.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 255,000 shares of company stock worth $19,846,215 in the last 90 days. Insiders own 0.33% of the company’s stock.

Marvell Technology Trading Up 0.9 %

Shares of MRVL opened at $80.66 on Friday. Marvell Technology, Inc. has a 52-week low of $46.07 and a 52-week high of $85.76. The business’s fifty day moving average is $71.23 and its 200-day moving average is $70.12. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. The firm has a market cap of $69.82 billion, a price-to-earnings ratio of -70.72, a PEG ratio of 3.17 and a beta of 1.45.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the company posted $0.18 EPS. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. Equities analysts anticipate that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.30%. Marvell Technology’s dividend payout ratio is currently -21.24%.

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.