Adell Harriman & Carpenter Inc. bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL – Get Rating) in the third quarter, according to the company’s latest 13F filings with the U.S. Securities and Exchange Commission. The company purchased 18,870 shares of semiconductor company stock worth approximately $810,000.
Other institutional investors and hedge funds have also recently changed positions at the company. Canton Hathaway LLC purchased approximately $28,000 worth of new Marvell Technology shares in the second quarter. Arlington Partners LLC purchased his new stake in Marvell Technology in the second quarter for his $29,000. Deseret Mutual Benefit Administrators increased his Marvell Technology holdings by 140.3% in the second quarter. Deseret Mutual Benefit Administrators now own 668 shares of the semiconductor company worth $29,000 after acquiring an additional 390 shares last quarter. Crewe Advisors LLC increased his Marvell Technology holdings by 38.5% in the second quarter. Crewe Advisors LLC now owns 734 shares of the semiconductor company worth $32,000 after acquiring an additional 204 shares in the previous quarter. Finally, TimeScale Financial Inc. increased its Marvell Technology holdings by 2,480.6% in the third quarter. TimeScale Financial Inc. now owns 800 shares of the semiconductor company worth $34,000 after acquiring an additional 769 shares last quarter. Institutional investors own 81.28% of the company’s shares.
Analyst upgrades and downgrades
Recently, several analysts have focused their attention on the MRVL stock. Susquehanna Bancshares lowered his price target on Marvell Technology stock to his $60.00 in a report on Friday, Dec. 2. Stifel Nicolaus lowered his price target on Marvell Technology stock from $78.00 to $70.00 and gave the stock a buy rating in a report on Thursday, Sept. 29. Morgan Stanley said in his Friday, Dec. 2 report that he lowered his price target on Marvell Technology stock from $60.00 to $41.00, giving the stock an “equal-weighted” rating. Deutsche Bank lowered its price target on Marvell Technology shares from $65.00 to $55.00, giving it a ‘buy’ rating, in a report on Tuesday, Oct. 18. Finally, Needham & Company LLC lowered Marvell Technology’s target price from $64.00 to $50.00 in its Friday, Dec. 2 research report, setting a “buy” rating for the company. Four Research his analysts rated the stock as Hold, and 22 gave the company a Buy rating. According to MarketBeat.com, the company’s current average rating is “moderate buy” with a consensus price target of $63.92.
In another news from Marvell Technology, CAO Willem A. Meintjes sold 10,000 shares in the company in a transaction on Friday, January 6th. The shares were sold at an average price of $34.92 for a total of $349,200.00. Following the closing of the transaction, the Chief Accounting Officer now owns 72,896 shares of the Company’s stock valued at approximately $2,545,528.32. The sale was disclosed in legal filings with the SEC available at this link. His 0.45% of the shares are owned by insiders.
Marvel Technology Price/Performance Ratio
NASDAQ:MRVL shares opened Friday at $38.57. Marvell Technology, Inc. has a 52-week low of $33.75 and a 52-week high of $78.65. The business has a 50-day simple moving average of $40.38 and a 200-day simple moving average of $44.44. The company has an equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 1.31. The company has a market capitalization of $32.91 billion, a price/earnings ratio of -241.06, a price/earnings ratio of 2.49 and a beta of 1.45.
Marvell Technology (NASDAQ:MRVL – Get Rating) announced final results on Thursday, December 1. The semiconductor company reported that he earned $0.41 per share for the quarter, well below analyst consensus expectations of $0.43 ($0.02). Marvell Technology’s return on equity was 8.50% and net profit margin was 2.43%. The business generated $1.54 billion in revenue for the quarter, compared with analyst estimates of $1.56 billion. On average, analysts expect Marvell Technology, Inc. to post earnings of 1.5 per share this year.
Marvell Technology Dividend Announcement
The company recently announced a quarterly dividend payable on Wednesday, January 25th. Shareholders of record on Friday, January 6 will receive a dividend of $0.06. This represents his $0.24 dividend and his 0.62% yield on an annual basis. The ex-dividend date is Thursday, January 5. Marvell Technology’s Dividend Payout Ratio (DPR) is -150.00%.
Marvell Technology Company Profile
Marvell Technology, Inc., along with its subsidiaries, designs, develops, and markets analog, mixed-signal, digital signal processing, embedded and stand-alone integrated circuits. We offer a portfolio of Ethernet solutions including controllers, network adapters, physical transceivers and switches. Single or multicore processor. ASICs; and printer system-on-a-chip products and application processors.
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