ASB Consultores LLC Increases Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

ASB Consultores LLC increased its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 3.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,824 shares of the semiconductor company’s stock after acquiring an additional 140 shares during the quarter. ASB Consultores LLC’s holdings in Marvell Technology were worth $276,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Marvell Technology by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 72,810,448 shares of the semiconductor company’s stock valued at $5,160,805,000 after buying an additional 468,086 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Marvell Technology by 13.4% in the 1st quarter. Janus Henderson Group PLC now owns 13,478,472 shares of the semiconductor company’s stock valued at $955,400,000 after acquiring an additional 1,591,874 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of 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 purchasing an additional 2,254,610 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Marvell Technology by 26.6% in the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after acquiring an additional 1,570,050 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in Marvell Technology by 3.0% during the 2nd quarter. Clearbridge Investments LLC now owns 5,189,682 shares of the semiconductor company’s stock valued at $362,759,000 after purchasing an additional 150,109 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.77, for a total value of $484,620.00. Following the completion of the sale, the executive vice president now directly owns 109,244 shares in the company, valued at approximately $8,823,637.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the completion of the sale, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at $8,823,637.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $12,075,000.00. Following the completion of the sale, the insider now owns 694,487 shares in the company, valued at approximately $55,906,203.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 261,000 shares of company stock worth $20,330,835 over the last quarter. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Citigroup reissued a “buy” rating and issued a $91.00 price objective on shares of Marvell Technology in a report on Monday, October 14th. Evercore ISI increased 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. TD Cowen upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Barclays upped their target price on Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $91.62.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $87.19 on Wednesday. The firm has a market cap of $77.27 billion, a PE ratio of -78.55, a P/E/G ratio of 3.68 and a beta of 1.44. Marvell Technology, Inc. has a 12 month low of $50.35 and a 12 month high of $87.99. The company’s fifty day simple moving average is $75.60 and its 200-day simple moving average is $71.36. 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 (NASDAQ:MRVL) last released its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (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 business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the business earned $0.18 earnings per share. Marvell Technology’s quarterly revenue was down 5.1% on a year-over-year basis. Equities research analysts expect that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.28%. 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.