Atria Investments Inc Purchases 8,160 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Atria Investments Inc raised its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 22.0% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 45,167 shares of the semiconductor company’s stock after acquiring an additional 8,160 shares during the period. Atria Investments Inc’s holdings in Marvell Technology were worth $3,257,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of MRVL. Carmel Capital Partners LLC acquired a new position in shares of Marvell Technology during the 3rd quarter worth about $938,000. Bridges Investment Management Inc. boosted its position in Marvell Technology by 4.1% during the third quarter. Bridges Investment Management Inc. now owns 3,806 shares of the semiconductor company’s stock valued at $274,000 after purchasing an additional 151 shares during the last quarter. Assetmark Inc. boosted its position in Marvell Technology by 16.9% during the third quarter. Assetmark Inc. now owns 39,197 shares of the semiconductor company’s stock valued at $2,827,000 after purchasing an additional 5,657 shares during the last quarter. Crumly & Associates Inc. increased its position in shares of Marvell Technology by 1.5% during the 3rd quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock worth $593,000 after purchasing an additional 121 shares during the last quarter. Finally, SpiderRock Advisors LLC increased its position in shares of Marvell Technology by 62.8% during the 3rd quarter. SpiderRock Advisors LLC now owns 10,916 shares of the semiconductor company’s stock worth $787,000 after purchasing an additional 4,212 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In other Marvell Technology news, CEO Matthew J. Murphy sold 6,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $73.29, for a total transaction of $439,740.00. Following the completion of the sale, the chief executive officer now directly owns 208,915 shares in the company, valued at $15,311,380.35. 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 the SEC website. In other news, CEO Matthew J. Murphy sold 6,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $73.29, for a total value of $439,740.00. Following the completion of the transaction, the chief executive officer now owns 208,915 shares of the company’s stock, valued at approximately $15,311,380.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Muhammad Raghib Hussain sold 150,000 shares of Marvell Technology stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the sale, the insider now directly owns 694,487 shares in the company, valued at $55,906,203.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 259,500 shares of company stock valued at $20,230,710 over the last three months. 0.33% of the stock is owned by insiders.

Analysts Set New Price Targets

MRVL has been the subject of several analyst reports. Benchmark raised their target price on shares of Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $95.00 target price (up from $90.00) on shares of Marvell Technology in a report on Friday, August 30th. Bank of America lifted their price target on Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, August 30th. TD Cowen upgraded Marvell Technology to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Piper Sandler reiterated an “overweight” rating and set a $100.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, two have given 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 an average rating of “Moderate Buy” and an average target price of $91.77.

Marvell Technology Price Performance

Marvell Technology stock opened at $90.07 on Thursday. The firm has a market cap of $79.82 billion, a PE ratio of -81.14, a price-to-earnings-growth ratio of 4.03 and a beta of 1.44. 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 stock’s fifty day moving average price is $78.04 and its two-hundred day moving average price is $72.43. Marvell Technology, Inc. has a one year low of $50.35 and a one year high of $95.09.

Marvell Technology (NASDAQ:MRVL) last posted 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 business had revenue of $1.27 billion during the quarter, compared to the consensus estimate 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 for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 earnings per share. As a group, research analysts expect 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. Investors 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 annualized dividend and a dividend yield of 0.27%. Marvell Technology’s dividend 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.