Platform Technology Partners Takes Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Platform Technology Partners bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,805 shares of the semiconductor company’s stock, valued at approximately $202,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Davidson Kempner Capital Management LP lifted its stake in shares of Marvell Technology by 26.5% in the 2nd quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock valued at $17,482,000 after purchasing an additional 52,365 shares during the last quarter. Diversified Trust Co bought a new position in shares of Marvell Technology during the second quarter valued at $932,000. Orion Portfolio Solutions LLC lifted its holdings in Marvell Technology by 47.1% during the 1st quarter. Orion Portfolio Solutions LLC now owns 32,191 shares of the semiconductor company’s stock valued at $2,282,000 after purchasing an additional 10,306 shares during the last quarter. WD Rutherford LLC boosted its holdings in shares of Marvell Technology by 182.5% in the 3rd quarter. WD Rutherford LLC now owns 18,266 shares of the semiconductor company’s stock worth $1,317,000 after acquiring an additional 11,801 shares in the last quarter. Finally, Silicon Valley Capital Partners boosted its stake in Marvell Technology by 254.6% in the third quarter. Silicon Valley Capital Partners now owns 32,978 shares of the semiconductor company’s stock worth $2,378,000 after purchasing an additional 23,678 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MRVL shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 price target on shares of Marvell Technology in a report on Friday, August 30th. Benchmark increased their price target on Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Loop Capital began coverage on shares of Marvell Technology in a report on Monday. They set a “hold” rating and a $95.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Finally, Evercore ISI increased their price objective on shares of Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.77.

Insider Activity at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $66.75, for a total value of $100,125.00. Following the completion of the sale, the chief financial officer now owns 113,253 shares of the company’s stock, valued at $7,559,637.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $66.75, for a total value of $100,125.00. Following the sale, the chief financial officer now directly owns 113,253 shares of the company’s stock, valued at approximately $7,559,637.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Chris Koopmans sold 6,000 shares of the company’s 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 transaction, the executive vice president now owns 109,244 shares in the company, valued at approximately $8,823,637.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 261,000 shares of company stock worth $20,330,835 in the last three months. 0.33% of the stock is owned by insiders.

Marvell Technology Stock Up 0.6 %

MRVL stock opened at $92.78 on Wednesday. The stock has a 50-day simple moving average of $77.65 and a two-hundred day simple moving average of $72.31. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $82.22 billion, a PE ratio of -83.59, a PEG ratio of 4.01 and a beta of 1.44. Marvell Technology, Inc. has a twelve month low of $50.35 and a twelve month high of $95.09.

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

Marvell Technology Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 0.26%. Marvell Technology’s 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.