Empowered Funds LLC Has $2.96 Million Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Empowered Funds LLC decreased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 24.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,100 shares of the semiconductor company’s stock after selling 13,064 shares during the period. Empowered Funds LLC’s holdings in Marvell Technology were worth $2,964,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of MRVL. Crumly & Associates Inc. lifted its stake in Marvell Technology by 1.5% during the 3rd quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock valued at $593,000 after acquiring an additional 121 shares in the last quarter. United Capital Management of KS Inc. lifted its position in shares of Marvell Technology by 0.4% during the third quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock valued at $2,470,000 after purchasing an additional 131 shares in the last quarter. Tlwm boosted its holdings in Marvell Technology by 1.6% during the second quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock worth $601,000 after purchasing an additional 136 shares during the last quarter. ASB Consultores LLC grew its position in Marvell Technology by 3.8% in the 3rd quarter. ASB Consultores LLC now owns 3,824 shares of the semiconductor company’s stock worth $276,000 after purchasing an additional 140 shares in the last quarter. Finally, Bridges Investment Management Inc. increased its stake in Marvell Technology by 4.1% in the 3rd quarter. Bridges Investment Management Inc. now owns 3,806 shares of the semiconductor company’s stock valued at $274,000 after buying an additional 151 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling

In related news, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $70.83, for a total value of $177,075.00. Following the sale, the executive vice president now directly owns 22,494 shares of the company’s stock, valued at $1,593,250.02. This trade represents a 10.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the completion of the transaction, the chief financial officer now directly owns 114,211 shares of the company’s stock, valued at approximately $10,180,768.54. This represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 267,000 shares of company stock worth $20,899,260 over the last ninety days. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MRVL has been the subject of several recent analyst reports. 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. Barclays boosted their price target on shares of Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Roth Mkm restated a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a report on Friday, August 30th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $95.00 target price (up from $90.00) on shares of Marvell Technology in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $91.77.

Marvell Technology Trading Up 1.0 %

Shares of MRVL opened at $88.71 on Tuesday. The business’s 50-day moving average price is $79.28 and its 200-day moving average price is $72.96. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. Marvell Technology, Inc. has a twelve month low of $50.35 and a twelve month high of $95.09. The stock has a market cap of $78.61 billion, a PE ratio of -79.92, a P/E/G ratio of 3.82 and a beta of 1.44.

Marvell Technology (NASDAQ:MRVL) last posted its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, hitting 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 business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior 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, equities analysts forecast that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 0.27%. The ex-dividend date was Friday, October 11th. Marvell Technology’s dividend payout ratio is -21.62%.

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.