Acadian Asset Management LLC acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL – Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,417 shares of the semiconductor company’s stock, valued at approximately $84,000.
Several other large investors have also bought and sold shares of the company. Lindbrook Capital LLC lifted its stake in shares of Marvell Technology by 67.6% in the 2nd quarter. Lindbrook Capital LLC now owns 429 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 173 shares during the period. Octavia Wealth Advisors LLC lifted its position in Marvell Technology by 3.6% during the 2nd quarter. Octavia Wealth Advisors LLC now owns 5,233 shares of the semiconductor company’s stock valued at $313,000 after acquiring an additional 181 shares during the period. Versant Capital Management Inc boosted its stake in Marvell Technology by 76.9% during the second quarter. Versant Capital Management Inc now owns 474 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 206 shares in the last quarter. CVA Family Office LLC boosted its stake in Marvell Technology by 5.7% during the second quarter. CVA Family Office LLC now owns 4,483 shares of the semiconductor company’s stock worth $268,000 after acquiring an additional 242 shares in the last quarter. Finally, Quilter Plc bought a new position in shares of Marvell Technology during the first quarter valued at approximately $248,250,000. 83.32% of the stock is owned by institutional investors.
Insider Transactions at Marvell Technology
In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $55.96, for a total transaction of $1,678,800.00. Following the completion of the transaction, the chief executive officer now owns 885,245 shares in the company, valued at approximately $49,538,310.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Chris Koopmans sold 5,000 shares of the firm’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $52.62, for a total value of $263,100.00. Following the completion of the sale, the executive vice president now directly owns 134,492 shares in the company, valued at $7,076,969.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $55.96, for a total transaction of $1,678,800.00. Following the transaction, the chief executive officer now directly owns 885,245 shares of the company’s stock, valued at $49,538,310.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,000 shares of company stock valued at $5,573,990. 0.45% of the stock is currently owned by insiders.
Marvell Technology Stock Up 1.4 %
Marvell Technology (NASDAQ:MRVL – Get Free Report) last issued its earnings results on Thursday, August 24th. The semiconductor company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. Marvell Technology had a negative net margin of 6.74% and a positive return on equity of 6.13%. Marvell Technology’s revenue for the quarter was down 11.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share. Research analysts predict that Marvell Technology, Inc. will post 0.88 EPS for the current fiscal year.
Marvell Technology Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Friday, October 6th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.43%. Marvell Technology’s payout ratio is -54.55%.
Analysts Set New Price Targets
MRVL has been the topic of a number of analyst reports. Oppenheimer reissued an “outperform” rating and issued a $70.00 price target on shares of Marvell Technology in a research report on Friday, August 25th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a report on Monday, October 16th. B. Riley lifted their target price on shares of Marvell Technology from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, August 25th. Morgan Stanley cut their price target on shares of Marvell Technology from $68.00 to $65.00 and set an “equal weight” rating on the stock in a report on Friday, August 25th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $100.00 price objective on shares of Marvell Technology in a report on Wednesday, September 20th. Two analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and a consensus target price of $66.11.
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, scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.
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