Adell Harriman & Carpenter Inc. purchased new positions at Marvell Technology, Inc. (NASDAQ: MRVL – Rated ) for the third quarter, according to the company’s most recent 13F filing with the SEC. The company bought 18,870 shares of the semiconductor company, worth about $810,000.
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Other institutional investors and hedge funds have also recently adjusted their positions in the company. Canton Hathaway LLC purchased a new position in Marvell Technology stock worth approximately $28,000 during the second quarter. Arlington Partners LLC purchased a new stake in Marvell Technology for $29,000 during the second quarter. Deseret Mutual Benefit Administrators increased its stake in Marvell Technology by 140.3% in the second quarter. Deseret Mutual Benefit Administrators now owns 668 shares of the semiconductor company worth $29,000 after acquiring an additional 390 shares last quarter. Crewe Advisors LLC increased its stake in Marvell Technology by 38.5% in the second quarter. Crewe Advisors LLC now owns 734 shares of the semiconductor company worth $32,000 after acquiring an additional 204 shares last quarter. Finally, TimeScale Financial Inc. increased its stake in Marvell Technology by 2,480.6% in the third quarter. TimeScale Financial now owns 800 shares of the semiconductor company worth $34,000 after acquiring an additional 769 shares last quarter. Institutional investors hold 81.28% of the company’s shares.
Analyst Promotions and Demotions
Several analysts recently weighed in on MRVL stock. Susquehanna Bancshares cut their price target on shares of Marvell Technology to $60.00 in a report on Friday, December 2nd. Stifel Nicolaus cut their price target on Marvell Technology from $78.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, September 29th. Morgan Stanley cut their price target on Marvell Technology from $60.00 to $41.00 and set an “equal weight” rating on the stock in a report on Friday, December 2nd. Deutsche Bank Aktiengesellschaft cut their price target on Marvell Technology from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, October 18th. Finally, Needham & Company LLC lowered their price objective on shares of Marvell Technology from $64.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, December 2nd. Four research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The company currently has an average rating of “Moderate Buy” and a consensus price target of $63.92, according to MarketBeat.com.
insiders place bets
In other Marvell Technology news, CAO Willem A. Meintjes sold 10,000 shares of the company in a trade dated Friday, January 6th. The stock has an average selling price of $34.92 and a total value of $349,200.00. Following the transaction, the chief accounting officer now owns 72,896 shares of company stock, worth approximately $2,545,528.32. The sale was disclosed in a legal filing with the Securities and Exchange Commission, available at this link. 0.45% of shares are owned by insiders.
Marvell Technology Price/Performance
Nasdaq: MRVL opened at $38.57 on Friday. Marvell Technologies had a fifty-two-week low of $33.75 and a fifty-two-week high of $78.65. The business has a 50-day simple moving average of $40.38 and a 200-day simple moving average of $44.44. The company’s debt-to-equity ratio is 0.25, the quick ratio is 0.92, and the current ratio is 1.31. The company has a market cap of $32.91 billion, a P/E ratio of -241.06, a P/E ratio of 2.49, and a beta of 1.45.
Marvell Technology (NASDAQ: MRVL – Get Rating ) last reported its earnings results on Thursday, December 1st. The semiconductor company reported earnings per share of $0.41 for the quarter, missing analysts’ average estimate of $0.43 ($0.02). Marvell Technology had a positive return on equity of 8.50% and a negative net profit margin of 2.43%. The business reported revenue of $1.54 billion for the quarter, compared with analysts’ expectations of $1.56 billion. On average, analysts expect Marvell Technology, Inc. to report 1.5 times earnings per share for the current year.
Marvell Technology Dividend Announcement
The company also recently announced a quarterly dividend, payable on Wednesday, January 25. Shareholders of record on Friday, January 6 will receive a $0.06 dividend. That represents a $0.24 dividend and a yield of 0.62% annualized. The ex-dividend date is Thursday, January 5. Marvell Technology has a dividend payout ratio (DPR) of -150.00%.
About Marvell Technologies
Marvell Technology, Inc and its subsidiaries design, develop and market analog, mixed-signal, digital signal processing, and embedded and stand-alone integrated circuits. It offers a range of Ethernet solutions, including controllers, network adapters, physical transceivers and switches; single- or multi-core processors; application-specific integrated circuits; and printer system-on-chip products and application processors.
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