Quantum Private Wealth LLC Has $2.41 Million Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Quantum Private Wealth LLC cut its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,476 shares of the semiconductor company’s stock after selling 355 shares during the quarter. Marvell Technology makes up approximately 0.8% of Quantum Private Wealth LLC’s portfolio, making the stock its 21st biggest position. Quantum Private Wealth LLC’s holdings in Marvell Technology were worth $2,414,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MRVL. Strategic Investment Solutions Inc. IL acquired a new position in shares of Marvell Technology in the 2nd quarter valued at about $32,000. Quarry LP acquired a new position in Marvell Technology during the 2nd quarter worth approximately $32,000. Mark Sheptoff Financial Planning LLC acquired a new position in Marvell Technology during the 1st quarter worth approximately $35,000. Whittier Trust Co. raised its stake in Marvell Technology by 74.5% during the 3rd 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 period. Finally, Exchange Traded Concepts LLC raised its stake in 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. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Trading Up 0.8 %

Shares of MRVL opened at $94.67 on Friday. 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, Inc. has a 1 year low of $50.35 and a 1 year high of $94.96. The company has a 50 day simple moving average of $76.53 and a two-hundred day simple moving average of $71.65. The firm has a market cap of $83.90 billion, a P/E ratio of -84.63, a price-to-earnings-growth ratio of 3.67 and a beta of 1.44.

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, hitting analysts’ consensus estimates 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 positive return on equity of 4.31% and a negative net margin of 18.30%. Marvell Technology’s revenue was down 5.1% on a year-over-year basis. During the same period last year, the company earned $0.18 earnings per share. On average, equities analysts expect that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently announced 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 0.25%. Marvell Technology’s dividend payout ratio (DPR) is -21.62%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and set a $100.00 price target on shares of Marvell Technology in a research note on Friday, August 30th. Morgan Stanley boosted their price objective on Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. Evercore ISI boosted their price objective on Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Finally, Benchmark upped their target price on Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $91.62.

Insider Transactions at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.77, for a total transaction of $484,620.00. Following the transaction, the executive vice president now owns 109,244 shares in the company, valued at approximately $8,823,637.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.77, for a total transaction of $484,620.00. Following the transaction, the executive vice president now owns 109,244 shares in the company, valued at approximately $8,823,637.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Thursday, August 15th. The shares were 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 owns 113,253 shares in the company, valued at $7,559,637.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 261,000 shares of company stock worth $20,330,835. 0.33% of the stock is currently owned by insiders.

About Marvell Technology

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.