Vanguard Personalized Indexing Management LLC Buys 8,823 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Vanguard Personalized Indexing Management LLC increased its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 17.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 58,531 shares of the semiconductor company’s stock after buying an additional 8,823 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Marvell Technology were worth $4,075,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of MRVL. Janney Montgomery Scott LLC lifted its holdings in shares of Marvell Technology by 27.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 42,090 shares of the semiconductor company’s stock worth $2,539,000 after buying an additional 8,938 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Marvell Technology by 5.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 60,016 shares of the semiconductor company’s stock valued at $3,620,000 after purchasing an additional 3,109 shares during the period. Coldstream Capital Management Inc. bought a new stake in Marvell Technology in the 4th quarter valued at about $274,000. D.A. Davidson & CO. grew its position in shares of Marvell Technology by 13.6% during the 4th quarter. D.A. Davidson & CO. now owns 33,051 shares of the semiconductor company’s stock worth $1,993,000 after purchasing an additional 3,958 shares in the last quarter. Finally, Assetmark Inc. raised its position in shares of Marvell Technology by 63.5% in the fourth quarter. Assetmark Inc. now owns 20,443 shares of the semiconductor company’s stock valued at $1,233,000 after buying an additional 7,937 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MRVL. KeyCorp increased their price target on Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Piper Sandler restated an “overweight” rating and issued a $100.00 price target on shares of Marvell Technology in a research report on Friday, August 30th. Stifel Nicolaus reaffirmed a “buy” rating and set a $95.00 price objective (up previously from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a report on Friday, August 30th. Two research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.62.

Insider Transactions at Marvell Technology

In other news, Director Daniel Durn acquired 1,425 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was bought at an average cost of $70.21 per share, for a total transaction of $100,049.25. Following the completion of the transaction, the director now directly owns 1,923 shares in the company, valued at approximately $135,013.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Marvell Technology news, Director Daniel Durn bought 1,425 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were bought at an average price of $70.21 per share, for a total transaction of $100,049.25. Following the transaction, the director now directly owns 1,923 shares in the company, valued at $135,013.83. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $73.88, for a total value of $110,820.00. Following the completion of the sale, the chief financial officer now owns 109,318 shares of the company’s stock, valued at $8,076,413.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 160,000 shares of company stock worth $11,878,785. Company insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $74.88 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. Marvell Technology, Inc. has a 52 week low of $46.07 and a 52 week high of $85.76. The firm has a market cap of $64.82 billion, a PE ratio of -66.27, a price-to-earnings-growth ratio of 3.29 and a beta of 1.46. The firm’s fifty day moving average is $68.19 and its 200-day moving average is $69.81.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. The firm had revenue of $1.27 billion for 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 business’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.18 EPS. Sell-side analysts predict that Marvell Technology, Inc. will post 0.77 earnings per share for the current year.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.24 annualized dividend and a yield of 0.32%. Marvell Technology’s payout ratio is -21.24%.

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.