Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Zweig DiMenna Associates LLC

Zweig DiMenna Associates LLC increased its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 2.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 200,821 shares of the semiconductor company’s stock after buying an additional 3,850 shares during the period. Marvell Technology comprises approximately 1.5% of Zweig DiMenna Associates LLC’s holdings, making the stock its 21st biggest position. Zweig DiMenna Associates LLC’s holdings in Marvell Technology were worth $14,483,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of MRVL. Salomon & Ludwin LLC bought a new position in shares of Marvell Technology during the first quarter worth about $31,000. Strategic Investment Solutions Inc. IL bought a new position in Marvell Technology in the 2nd quarter worth about $32,000. Quarry LP bought a new position in Marvell Technology in the 2nd quarter worth about $32,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Marvell Technology in the first quarter valued at approximately $35,000. Finally, Whittier Trust Co. raised its holdings in shares of Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 210 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on MRVL shares. The Goldman Sachs Group raised 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. Benchmark raised their price target on Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a report on Friday, August 30th. StockNews.com downgraded shares of Marvell Technology from a “hold” rating to a “sell” rating in a report on Friday, October 18th. Roth Mkm reissued a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Finally, KeyCorp boosted their price target on shares of Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average price target of $91.62.

Marvell Technology Trading Up 0.1 %

Shares of MRVL opened at $81.93 on Friday. The business’s 50-day moving average price is $73.42 and its 200 day moving average price is $70.50. 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 stock has a market capitalization of $70.92 billion, a P/E ratio of -72.50, a P/E/G ratio of 3.17 and a beta of 1.45. Marvell Technology, Inc. has a 1-year low of $46.07 and a 1-year high of $85.76.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the business earned $0.18 earnings per share. The firm’s revenue was down 5.1% compared to the same quarter last year. Analysts expect that Marvell Technology, Inc. will post 0.78 earnings per share for the current year.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be given a $0.06 dividend. The ex-dividend date is Friday, October 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.29%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.24%.

Insider Activity

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $66.75, for a total transaction of $100,125.00. Following the completion of the sale, the chief financial officer now directly owns 113,253 shares in the company, valued at approximately $7,559,637.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $66.75, for a total transaction of $100,125.00. Following the completion of the sale, the chief financial officer now owns 113,253 shares of the company’s stock, valued at $7,559,637.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the completion of the transaction, the insider now directly owns 694,487 shares in the company, valued at $55,906,203.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 261,000 shares of company stock worth $20,330,835. 0.33% of the stock is owned by corporate 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.