Diversify Advisory Services LLC Has $231,000 Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Diversify Advisory Services LLC decreased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 28.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,205 shares of the semiconductor company’s stock after selling 1,252 shares during the quarter. Diversify Advisory Services LLC’s holdings in Marvell Technology were worth $231,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC lifted its stake in shares of Marvell Technology by 47,934.4% during the 1st quarter. Lazard Asset Management LLC now owns 4,001,745 shares of the semiconductor company’s stock worth $283,643,000 after buying an additional 3,993,414 shares during the last quarter. Whale Rock Capital Management LLC acquired a new stake in Marvell Technology during the first quarter worth approximately $181,559,000. Ameriprise Financial Inc. boosted its holdings in shares of Marvell Technology by 24.1% during 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 during the period. Swedbank AB grew its position in shares of Marvell Technology by 653.5% in the second quarter. Swedbank AB now owns 2,334,015 shares of the semiconductor company’s stock valued at $163,148,000 after purchasing an additional 2,024,269 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of 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 worth $955,400,000 after purchasing an additional 1,591,874 shares during the period. 83.51% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 113,253 shares in the company, valued at approximately $7,559,637.75. This trade 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 can be accessed through this link. In related news, insider Muhammad Raghib Hussain sold 150,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $12,075,000.00. Following the completion of the sale, the insider now directly owns 694,487 shares in the company, valued at $55,906,203.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, 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 disclosure for this sale can be found here. Insiders have sold 261,000 shares of company stock worth $20,330,835 in the last 90 days. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

Marvell Technology stock opened at $84.77 on Friday. 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 stock has a market cap of $75.12 billion, a PE ratio of -76.37, a P/E/G ratio of 3.60 and a beta of 1.45. Marvell Technology, Inc. has a 12-month low of $48.44 and a 12-month high of $87.28. The business’s 50-day moving average price is $74.68 and its two-hundred day moving average price is $70.88.

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

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.28%. The ex-dividend date was Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is -21.62%.

Wall Street Analyst Weigh In

A number of brokerages have commented on MRVL. 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 report on Friday, August 30th. Benchmark upped their price target 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. Roth Mkm reiterated a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. KeyCorp boosted their price objective on shares of Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Finally, TD Cowen raised shares of Marvell Technology to a “strong-buy” rating in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.62.

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.