Pinnacle Financial Partners Inc Has $9.62 Million Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Pinnacle Financial Partners Inc boosted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 3.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 133,387 shares of the semiconductor company’s stock after acquiring an additional 4,364 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Marvell Technology were worth $9,620,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in MRVL. Strategic Investment Solutions Inc. IL acquired a new position in Marvell Technology during the second quarter worth $32,000. Quarry LP bought a new position in shares of Marvell Technology in the second quarter valued at approximately $32,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Marvell Technology in the first quarter worth $35,000. Whittier Trust Co. boosted its holdings in shares of 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 grew its stake in Marvell Technology by 125.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 336 shares during the last quarter. 83.51% of the stock is owned by institutional investors.

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 value of $484,620.00. Following the transaction, the executive vice president now owns 109,244 shares of the company’s stock, valued at approximately $8,823,637.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Matthew J. Murphy bought 13,000 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were acquired at an average price of $77.63 per share, with a total value of $1,009,190.00. Following the completion of the transaction, the chief executive officer now owns 221,915 shares in the company, valued at $17,227,261.45. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $80.77, for a total value of $484,620.00. Following the transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 259,500 shares of company stock worth $20,230,710. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Stock Down 2.9 %

NASDAQ:MRVL opened at $90.07 on Thursday. The stock’s fifty day moving average price is $78.04 and its two-hundred day moving average price is $72.43. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. The company has a market cap of $79.82 billion, a price-to-earnings ratio of -81.14, a P/E/G ratio of 4.03 and a beta of 1.44. Marvell Technology, Inc. has a 52-week low of $50.35 and a 52-week high of $95.09.

Marvell Technology (NASDAQ:MRVL) last issued its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the company posted $0.18 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, analysts anticipate that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were issued a $0.06 dividend. The ex-dividend date was Friday, October 11th. This represents a $0.24 annualized dividend and a yield of 0.27%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.62%.

Analyst Ratings Changes

MRVL has been the topic of a number of recent analyst reports. Barclays boosted their price objective on Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Benchmark increased their price objective on Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, August 30th. 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. Morgan Stanley boosted their price objective on shares of Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. Finally, Needham & Company LLC reissued a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $91.77.

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.