D.A. Davidson & CO. Acquires 4,718 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

D.A. Davidson & CO. boosted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 8.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,056 shares of the semiconductor company’s stock after purchasing an additional 4,718 shares during the period. D.A. Davidson & CO.’s holdings in Marvell Technology were worth $4,331,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in MRVL. Swedbank AB bought a new stake in Marvell Technology in the first quarter worth $21,955,000. Atria Investments Inc increased its position in shares of Marvell Technology by 36.0% in the first quarter. Atria Investments Inc now owns 30,917 shares of the semiconductor company’s stock valued at $2,191,000 after acquiring an additional 8,189 shares during the period. Cetera Investment Advisers increased its position in shares of Marvell Technology by 357.3% in the first quarter. Cetera Investment Advisers now owns 175,518 shares of the semiconductor company’s stock valued at $12,441,000 after acquiring an additional 137,138 shares during the period. Cetera Advisors LLC increased its position in shares of Marvell Technology by 123.0% in the first quarter. Cetera Advisors LLC now owns 38,811 shares of the semiconductor company’s stock valued at $2,751,000 after acquiring an additional 21,410 shares during the period. Finally, Westwood Holdings Group Inc. purchased a new position in shares of Marvell Technology in the first quarter valued at about $6,985,000. 83.51% of the stock is owned by institutional investors.

Insider Activity

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology 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 sale, the chief financial officer now directly owns 111,753 shares in the company, valued at approximately $8,255,194.11. The trade was a 1.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ford Tamer sold 92,000 shares of Marvell Technology stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $74.16, for a total transaction of $6,822,720.00. Following the completion of the sale, the director now owns 351,193 shares in the company, valued at approximately $26,044,472.88. This represents a 20.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 267,000 shares of company stock worth $20,899,260 in the last three months. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on MRVL. Oppenheimer boosted their price objective on shares of Marvell Technology from $90.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday. Stifel Nicolaus restated a “buy” rating and issued a $95.00 price objective (up previously from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. Piper Sandler restated an “overweight” rating and issued a $100.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. Finally, Barclays boosted their price target on shares of Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus price target of $95.39.

Marvell Technology Trading Down 3.3 %

Shares of Marvell Technology stock opened at $90.10 on Friday. The company’s fifty day simple moving average is $81.82 and its 200-day simple moving average is $74.05. The stock has a market capitalization of $79.85 billion, a PE ratio of -81.17, a P/E/G ratio of 4.01 and a beta of 1.44. Marvell Technology, Inc. has a 1-year low of $50.35 and a 1-year high of $95.55. 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 issued its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The company’s revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 EPS. As a group, equities analysts anticipate that Marvell Technology, Inc. will post 0.78 earnings per share for the current year.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.27%. Marvell Technology’s payout ratio is -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.