Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by Deltec Asset Management LLC

Deltec Asset Management LLC raised its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 3.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 122,205 shares of the semiconductor company’s stock after acquiring an additional 3,524 shares during the quarter. Marvell Technology accounts for about 1.7% of Deltec Asset Management LLC’s portfolio, making the stock its 16th biggest holding. Deltec Asset Management LLC’s holdings in Marvell Technology were worth $8,813,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Fidelis Capital Partners LLC purchased a new stake in shares of Marvell Technology in the third quarter worth approximately $273,000. MONECO Advisors LLC purchased a new stake in Marvell Technology in the 3rd quarter worth approximately $285,000. abrdn plc lifted its position in Marvell Technology by 1.3% in the 3rd quarter. abrdn plc now owns 1,530,125 shares of the semiconductor company’s stock worth $109,037,000 after buying an additional 19,794 shares in the last quarter. Pallas Capital Advisors LLC boosted its stake in shares of Marvell Technology by 4.2% during the 3rd quarter. Pallas Capital Advisors LLC now owns 53,524 shares of the semiconductor company’s stock valued at $3,860,000 after buying an additional 2,145 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Marvell Technology by 134.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 133,995 shares of the semiconductor company’s stock valued at $9,664,000 after acquiring an additional 76,745 shares in the last quarter. Institutional investors 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 shares were 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 owns 208,915 shares in the company, valued at approximately $15,311,380.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Marvell Technology news, CEO Matthew J. Murphy bought 13,000 shares of Marvell Technology stock in a transaction that occurred on Monday, October 14th. The stock was acquired at an average price of $77.63 per share, for a total transaction of $1,009,190.00. Following the completion of the acquisition, the chief executive officer now owns 221,915 shares of the company’s stock, valued at $17,227,261.45. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew J. Murphy sold 6,000 shares of the firm’s 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 $15,311,380.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 261,000 shares of company stock worth $20,330,835 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

Shares of MRVL stock opened at $84.87 on Wednesday. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. The firm’s 50 day moving average is $74.22 and its 200-day moving average is $70.73. Marvell Technology, Inc. has a 1 year low of $46.07 and a 1 year high of $85.76. The firm has a market capitalization of $75.21 billion, a price-to-earnings ratio of -76.46, a PEG ratio of 3.55 and a beta of 1.45.

Marvell Technology (NASDAQ:MRVL) last issued 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 business 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 firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 earnings per share. Sell-side analysts forecast that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is -21.62%.

Analyst Ratings Changes

A number of analysts recently issued reports on MRVL shares. The Goldman Sachs Group lifted their price objective on Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. Citigroup reissued a “buy” rating and set a $91.00 target price on shares of Marvell Technology in a research report on Monday, October 14th. KeyCorp boosted their price objective on Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Finally, StockNews.com downgraded shares of Marvell Technology from a “hold” rating to a “sell” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average price target 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.