Blueshift Asset Management LLC Buys New Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Blueshift Asset Management LLC acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 2,987 shares of the semiconductor company’s stock, valued at approximately $215,000.

Several other large investors have also made changes to their positions in MRVL. Strategic Investment Solutions Inc. IL purchased a new position in Marvell Technology during the second quarter valued at $32,000. Quarry LP purchased a new position in Marvell Technology in the 2nd quarter valued at about $32,000. Whittier Trust Co. increased its stake in Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after buying an additional 210 shares in the last quarter. Briaud Financial Planning Inc acquired a new stake in shares of Marvell Technology in the third quarter worth approximately $43,000. Finally, Exchange Traded Concepts LLC increased its position in shares of Marvell Technology by 125.4% during the third quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 336 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MRVL. Susquehanna boosted their price target on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a “positive” rating in a research report on Wednesday. Evercore ISI lifted their price target on shares of Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Loop Capital assumed coverage on Marvell Technology in a research report on Monday, November 11th. They issued a “hold” rating and a $95.00 target price on the stock. Citigroup reiterated a “buy” rating and set a $91.00 price target on shares of Marvell Technology in a report on Monday, October 14th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. Three research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.39.

Marvell Technology Trading Up 2.9 %

Shares of MRVL stock opened at $92.69 on Friday. Marvell Technology, Inc. has a twelve month low of $50.35 and a twelve month high of $95.55. 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 business’s 50 day moving average is $82.13 and its two-hundred day moving average is $74.16. The company has a market capitalization of $82.14 billion, a P/E ratio of -83.50, a price-to-earnings-growth ratio of 3.92 and a beta of 1.44.

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

Marvell Technology Dividend Announcement

The firm also recently disclosed 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 was Friday, October 11th. Marvell Technology’s dividend payout ratio is presently -21.62%.

Insider Buying and Selling

In other Marvell Technology news, insider Muhammad Raghib Hussain sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the sale, the insider now directly owns 694,487 shares of the company’s stock, valued at $55,906,203.50. This trade represents a 17.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew J. Murphy sold 6,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 208,915 shares of the company’s stock, valued at approximately $15,311,380.35. This represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 267,000 shares of company stock valued at $20,899,260 over the last quarter. Company insiders own 0.33% of the company’s stock.

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.