CreativeOne Wealth LLC Grows Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

CreativeOne Wealth LLC boosted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 137.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,939 shares of the semiconductor company’s stock after purchasing an additional 4,011 shares during the quarter. CreativeOne Wealth LLC’s holdings in Marvell Technology were worth $500,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MRVL. Davidson Kempner Capital Management LP boosted its position in shares of Marvell Technology by 26.5% during the second quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock worth $17,482,000 after acquiring an additional 52,365 shares during the last quarter. Braun Stacey Associates Inc. purchased a new position in shares of Marvell Technology during the third quarter valued at about $16,435,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Marvell Technology by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after purchasing an additional 66,654 shares during the last quarter. Diversified Trust Co bought a new stake in shares of Marvell Technology in the second quarter worth about $932,000. Finally, Silicon Valley Capital Partners boosted its stake in Marvell Technology by 254.6% during the third quarter. Silicon Valley Capital Partners now owns 32,978 shares of the semiconductor company’s stock valued at $2,378,000 after buying an additional 23,678 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, Director Ford Tamer sold 92,000 shares of Marvell Technology stock in a transaction on Thursday, September 12th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $73.87, for a total value of $110,805.00. Following the sale, the chief financial officer now owns 111,753 shares of the company’s stock, valued at approximately $8,255,194.11. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 267,000 shares of company stock valued at $20,899,260. 0.33% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on MRVL shares. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd. Roth Mkm reiterated a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 price objective (up from $90.00) on shares of Marvell Technology in a research note on Friday, August 30th. Morgan Stanley increased their price target on shares of Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, August 30th. Finally, Rosenblatt Securities boosted their price objective on Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.39.

Marvell Technology Price Performance

MRVL opened at $92.69 on Monday. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. The business’s fifty day simple moving average is $82.50 and its 200-day simple moving average is $74.37. The company has a market capitalization of $82.14 billion, a price-to-earnings ratio of -83.50, a PEG ratio of 4.03 and a beta of 1.44. Marvell Technology, Inc. has a 12-month low of $50.35 and a 12-month high of $95.55.

Marvell Technology (NASDAQ:MRVL) last posted its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates 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 the consensus estimate of $1.25 billion. During the same quarter last year, the firm posted $0.18 EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, equities research analysts anticipate that Marvell Technology, Inc. will post 0.78 earnings per share 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 issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.26%. 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.