B. Metzler seel. Sohn & Co. Holding AG Acquires Shares of 89,662 Marvell Technology, Inc. (NASDAQ:MRVL)

B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 89,662 shares of the semiconductor company’s stock, valued at approximately $6,466,000.

Other institutional investors also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new position in Marvell Technology during the second quarter worth about $32,000. Quarry LP bought a new position in shares of Marvell Technology during the second quarter worth approximately $32,000. Whittier Trust Co. increased its holdings in shares of 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 purchasing an additional 210 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Marvell Technology by 125.4% in the third 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 in the last quarter. Finally, Unique Wealth Strategies LLC bought a new stake in shares of Marvell Technology in the second quarter valued at approximately $45,000. Institutional investors own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In other Marvell Technology news, Director Ford Tamer sold 92,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $74.16, for a total value of $6,822,720.00. Following the transaction, the director now directly owns 351,193 shares of the company’s stock, valued at approximately $26,044,472.88. The trade was a 20.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the transaction, the chief financial officer now owns 114,211 shares in the company, valued at $10,180,768.54. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 267,000 shares of company stock worth $20,899,260 over the last quarter. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MRVL. Barclays raised their price objective on Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. The Goldman Sachs Group boosted their price target on Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Loop Capital began coverage on shares of Marvell Technology in a research report on Monday, November 11th. They set a “hold” rating and a $95.00 price objective for the company. Evercore ISI boosted their target price on shares of Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Finally, TD Cowen raised shares of Marvell Technology to a “strong-buy” rating in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.77.

Marvell Technology Trading Up 0.7 %

NASDAQ MRVL opened at $89.34 on Wednesday. The firm has a market capitalization of $79.17 billion, a PE ratio of -80.49, a price-to-earnings-growth ratio of 3.82 and a beta of 1.44. The business’s 50-day moving average price is $79.64 and its two-hundred day moving average price is $73.10. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. Marvell Technology, Inc. has a 12 month low of $50.35 and a 12 month high of $95.09.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the firm earned $0.18 earnings per share. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. On average, analysts expect that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Announces Dividend

The company also recently announced 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 yield of 0.27%. The ex-dividend date of this dividend was Friday, October 11th. Marvell Technology’s dividend payout ratio is presently -21.62%.

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.