Dakota Wealth Management Grows Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Dakota Wealth Management raised its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 2.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,646 shares of the semiconductor company’s stock after acquiring an additional 343 shares during the period. Dakota Wealth Management’s holdings in Marvell Technology were worth $912,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of MRVL. Vanguard Group Inc. lifted its holdings in shares of Marvell Technology by 0.6% during the first quarter. Vanguard Group Inc. now owns 72,810,448 shares of the semiconductor company’s stock valued at $5,160,805,000 after purchasing an additional 468,086 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Marvell Technology by 13.4% in 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 acquiring an additional 1,591,874 shares during the period. Ameriprise Financial Inc. lifted its holdings in Marvell Technology by 24.1% in the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after acquiring an additional 2,254,610 shares during the period. Van ECK Associates Corp lifted its holdings in Marvell Technology by 17.6% in the second quarter. Van ECK Associates Corp now owns 5,901,773 shares of the semiconductor company’s stock valued at $412,533,000 after acquiring an additional 884,380 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in Marvell Technology by 3.0% in the second quarter. Clearbridge Investments LLC now owns 5,189,682 shares of the semiconductor company’s stock valued at $362,759,000 after acquiring an additional 150,109 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $80.77, for a total transaction of $484,620.00. Following the transaction, the executive vice president now owns 109,244 shares of the company’s stock, valued at approximately $8,823,637.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $80.77, for a total transaction of $484,620.00. Following the transaction, the executive vice president now owns 109,244 shares of the company’s stock, valued at approximately $8,823,637.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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 in the company, valued at approximately $7,559,637.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 261,000 shares of company stock valued at $20,330,835. 0.33% of the stock is currently owned by insiders.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $81.61 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. Marvell Technology, Inc. has a 1 year low of $46.07 and a 1 year high of $85.76. The stock’s 50 day simple moving average is $73.67 and its two-hundred day simple moving average is $70.54. The company has a market cap of $72.32 billion, a price-to-earnings ratio of -73.52, a PEG ratio of 3.62 and a beta of 1.45.

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

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Friday, October 11th. Marvell Technology’s dividend payout ratio is currently -21.62%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MRVL. Evercore ISI increased their target price on Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a report on Friday, August 30th. StockNews.com downgraded Marvell Technology from a “hold” rating to a “sell” rating in a report on Friday, October 18th. Rosenblatt Securities raised their price objective on Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Roth Mkm reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. Finally, Barclays raised their price objective on Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, one has given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus target price of $91.62.

Marvell Technology Company 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.