Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Planning Capital Management Corp

Planning Capital Management Corp increased its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 80.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,261 shares of the semiconductor company’s stock after acquiring an additional 561 shares during the quarter. Planning Capital Management Corp’s holdings in Marvell Technology were worth $91,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MRVL. Lazard Asset Management LLC lifted its stake in shares of Marvell Technology by 47,934.4% in the first quarter. Lazard Asset Management LLC now owns 4,001,745 shares of the semiconductor company’s stock worth $283,643,000 after acquiring an additional 3,993,414 shares in the last quarter. Whale Rock Capital Management LLC acquired a new position in shares of Marvell Technology in the first quarter worth about $181,559,000. Ameriprise Financial Inc. lifted its stake in shares of Marvell Technology by 24.1% in the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock worth $812,509,000 after acquiring an additional 2,254,610 shares in the last quarter. Swedbank AB raised its stake in Marvell Technology by 653.5% during the second quarter. Swedbank AB now owns 2,334,015 shares of the semiconductor company’s stock valued at $163,148,000 after buying an additional 2,024,269 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in Marvell Technology by 13.4% during the first quarter. Janus Henderson Group PLC now owns 13,478,472 shares of the semiconductor company’s stock valued at $955,400,000 after buying an additional 1,591,874 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

MRVL has been the topic of several research reports. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. Bank of America upped their price objective on Marvell Technology from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Roth Mkm restated a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. StockNews.com cut Marvell Technology from a “hold” rating to a “sell” rating in a research note on Friday, October 18th. Finally, Needham & Company LLC restated a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.77.

Insider Activity

In other news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $73.87, for a total transaction of $110,805.00. Following the completion of the sale, the chief financial officer now owns 111,753 shares in the company, valued at approximately $8,255,194.11. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the completion of the sale, the executive vice president now owns 109,244 shares in the company, valued at $8,823,637.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 completion of the sale, the chief financial officer now owns 111,753 shares of the company’s stock, valued at $8,255,194.11. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 259,500 shares of company stock worth $20,230,710. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $90.07 on Thursday. The business has a 50 day simple moving average of $78.04 and a 200 day simple moving average of $72.43. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. The firm has a market capitalization of $79.82 billion, a price-to-earnings ratio of -81.14, a price-to-earnings-growth 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 $95.09.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. The firm 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%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period last year, the company posted $0.18 EPS. On average, equities research analysts anticipate that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were given a dividend of $0.06 per share. The ex-dividend date was Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.27%. Marvell Technology’s dividend payout ratio (DPR) is presently -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.