Natixis Advisors LLC Raises Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Natixis Advisors LLC grew its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 55.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,068,155 shares of the semiconductor company’s stock after buying an additional 380,876 shares during the quarter. Natixis Advisors LLC owned 0.12% of Marvell Technology worth $77,035,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MRVL. Strategic Investment Solutions Inc. IL purchased a new stake in Marvell Technology during the second quarter valued at approximately $32,000. Quarry LP purchased a new stake in Marvell Technology during the 2nd quarter valued at $32,000. Whittier Trust Co. lifted its position in Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after buying an additional 210 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in 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 buying an additional 336 shares during the period. Finally, Unique Wealth Strategies LLC bought a new position in Marvell Technology during the second quarter valued at $45,000. Institutional investors own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the sale, the executive vice president now directly owns 109,244 shares in the company, valued at approximately $8,823,637.88. The trade was a 5.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $120,750.00. Following the transaction, the chief financial officer now directly owns 110,253 shares of the company’s stock, valued at $8,875,366.50. The trade was a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 259,500 shares of company stock valued at $20,230,710 over the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

MRVL has been the subject of several analyst reports. Rosenblatt Securities raised their target price on shares of Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 30th. The Goldman Sachs Group boosted their target price on Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, August 30th. TD Cowen upgraded Marvell Technology to a “strong-buy” rating in a report on Monday, September 16th. Evercore ISI raised their price target on Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Finally, Bank of America upped their price objective on Marvell Technology from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. 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 Price Performance

NASDAQ:MRVL opened at $87.83 on Friday. The firm’s fifty day moving average is $78.89 and its two-hundred day moving average is $72.74. Marvell Technology, Inc. has a one year low of $50.35 and a one year high of $95.09. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28.

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, 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 company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the business posted $0.18 earnings per share. Marvell Technology’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, equities analysts forecast that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.27%. Marvell Technology’s dividend payout ratio (DPR) is -21.62%.

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.