ASB Consultores LLC Has $276,000 Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

ASB Consultores LLC increased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 3.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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.

Several other hedge funds have also added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of Marvell Technology during the 2nd quarter valued at $32,000. Quarry LP bought a new stake in Marvell Technology in the second quarter valued at about $32,000. Mark Sheptoff Financial Planning LLC acquired a new position in Marvell Technology in the first quarter valued at about $35,000. Whittier Trust Co. boosted its holdings in Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after buying an additional 210 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its position in shares of Marvell Technology by 125.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock worth $44,000 after buying an additional 336 shares during the period. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Performance

Shares of MRVL opened at $87.19 on Wednesday. Marvell Technology, Inc. has a one year low of $50.35 and a one year high of $87.99. The firm has a market capitalization of $77.27 billion, a P/E ratio of -78.55, a PEG ratio of 3.68 and a beta of 1.44. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. The business has a fifty day moving average of $75.60 and a 200 day moving average of $71.36.

Marvell Technology (NASDAQ:MRVL) last issued its 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 company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. Marvell Technology’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 EPS. As a group, sell-side analysts anticipate that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date was Friday, October 11th. Marvell Technology’s dividend payout ratio is currently -21.62%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. KeyCorp lifted their price objective on shares of Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Citigroup restated a “buy” rating and issued a $91.00 price objective on shares of Marvell Technology in a research report on Monday, October 14th. StockNews.com lowered Marvell Technology from a “hold” rating to a “sell” rating in a report on Friday, October 18th. The Goldman Sachs Group increased their price target on Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Evercore ISI lifted their price objective on Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.62.

Insiders Place Their Bets

In other 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 value of $100,125.00. Following the completion of the transaction, the chief financial officer now directly owns 113,253 shares of the company’s stock, valued at approximately $7,559,637.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $66.75, for a total value of $100,125.00. Following the sale, the chief financial officer now directly owns 113,253 shares of the company’s stock, valued at approximately $7,559,637.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Chris Koopmans sold 6,000 shares of the 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 transaction, the executive vice president now owns 109,244 shares in the company, valued at $8,823,637.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 261,000 shares of company stock worth $20,330,835 in the last three months. Corporate insiders own 0.33% of the company’s stock.

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.