Curi RMB Capital LLC Grows Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Curi RMB Capital LLC increased its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 56.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 130,421 shares of the semiconductor company’s stock after purchasing an additional 46,913 shares during the quarter. Curi RMB Capital LLC’s holdings in Marvell Technology were worth $9,406,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MRVL. Planning Capital Management Corp increased its position in shares of Marvell Technology by 80.1% during the 3rd quarter. Planning Capital Management Corp now owns 1,261 shares of the semiconductor company’s stock valued at $91,000 after purchasing an additional 561 shares during the last quarter. KBC Group NV increased its holdings in Marvell Technology by 7.2% during the third quarter. KBC Group NV now owns 121,865 shares of the semiconductor company’s stock valued at $8,788,000 after buying an additional 8,155 shares during the last quarter. Bouvel Investment Partners LLC raised its position in Marvell Technology by 0.5% in the third quarter. Bouvel Investment Partners LLC now owns 69,939 shares of the semiconductor company’s stock worth $5,044,000 after acquiring an additional 374 shares during the period. Plato Investment Management Ltd raised its position in Marvell Technology by 2.5% in the third quarter. Plato Investment Management Ltd now owns 16,479 shares of the semiconductor company’s stock worth $1,187,000 after acquiring an additional 403 shares during the period. Finally, ICICI Prudential Asset Management Co Ltd boosted its stake in shares of Marvell Technology by 18.9% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 11,307 shares of the semiconductor company’s stock worth $815,000 after acquiring an additional 1,799 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

MRVL has been the topic of several analyst reports. Bank of America lifted their price target on shares of Marvell Technology from $85.00 to $90.00 and gave the company a “buy” rating in a report on Friday, August 30th. Piper Sandler restated an “overweight” rating and issued a $100.00 price target on shares of Marvell Technology in a research note on Friday, August 30th. Roth Mkm reiterated a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. StockNews.com lowered shares of Marvell Technology from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. Finally, Rosenblatt Securities lifted their price target on shares of Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and an average target price of $91.77.

Marvell Technology Stock Performance

Shares of NASDAQ:MRVL opened at $90.70 on Friday. The firm has a 50 day moving average of $78.45 and a 200 day moving average of $72.56. 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 52 week low of $50.35 and a 52 week high of $95.09.

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

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend was Friday, October 11th. Marvell Technology’s payout ratio is presently -21.62%.

Insider Buying and Selling at Marvell Technology

In related news, Director Ford Tamer sold 92,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $74.16, for a total value of $6,822,720.00. Following the transaction, the director now directly owns 351,193 shares of the company’s stock, valued at approximately $26,044,472.88. This trade represents a 20.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at $8,823,637.88. The trade was a 5.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 259,500 shares of company stock valued at $20,230,710. 0.33% of the stock is owned by company insiders.

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.