Rakuten Securities Inc. Has $408,000 Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Rakuten Securities Inc. lessened its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 36.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,654 shares of the semiconductor company’s stock after selling 3,187 shares during the quarter. Rakuten Securities Inc.’s holdings in Marvell Technology were worth $408,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of MRVL. Strategic Investment Solutions Inc. IL bought a new position in shares of Marvell Technology in the 2nd quarter valued at $32,000. Quarry LP bought a new position in shares of Marvell Technology in the 2nd quarter valued at $32,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of Marvell Technology in the 1st quarter valued at $35,000. Whittier Trust Co. lifted its stake in shares of Marvell Technology by 74.5% in the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 210 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its position 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 purchasing an additional 336 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Price Performance

MRVL stock opened at $92.25 on Tuesday. The company has a market capitalization of $81.75 billion, a P/E ratio of -83.11, a price-to-earnings-growth ratio of 4.08 and a beta of 1.44. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. Marvell Technology, Inc. has a 52-week low of $50.35 and a 52-week high of $95.09. The business has a 50-day simple moving average of $77.20 and a two-hundred day simple moving average of $72.14.

Marvell Technology (NASDAQ:MRVL) last released its quarterly 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. The business 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%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 EPS. 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. Shareholders 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 0.26%. Marvell Technology’s dividend payout ratio is currently -21.62%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MRVL. Stifel Nicolaus reaffirmed a “buy” rating and set a $95.00 target price (up from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. Morgan Stanley raised their target price on Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. Citigroup reaffirmed a “buy” rating and set a $91.00 target price on shares of Marvell Technology in a research report on Monday, October 14th. Loop Capital began coverage on Marvell Technology in a research report on Monday. They set a “hold” rating and a $95.00 target price for the company. Finally, Benchmark raised their target price on Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus price target of $91.77.

Insiders Place Their Bets

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Monday, October 21st. The shares were 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 of the company’s stock, valued at $8,823,637.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred 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 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 document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 109,244 shares in the company, valued at $8,823,637.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 261,000 shares of company stock valued at $20,330,835 in the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Marvell Technology 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.