Hartline Investment Corp Has $27.80 Million Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Hartline Investment Corp lifted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 2.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 385,412 shares of the semiconductor company’s stock after purchasing an additional 9,275 shares during the quarter. Marvell Technology accounts for approximately 3.5% of Hartline Investment Corp’s investment portfolio, making the stock its 8th largest position. Hartline Investment Corp’s holdings in Marvell Technology were worth $27,796,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MRVL. Strategic Investment Solutions Inc. IL bought a new position in shares of Marvell Technology during the 2nd quarter valued at approximately $32,000. Quarry LP purchased a new position in Marvell Technology during the second quarter worth $32,000. Mark Sheptoff Financial Planning LLC bought a new position in Marvell Technology during the first quarter valued at $35,000. Whittier Trust Co. raised its stake in shares of Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 210 shares during the period. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Marvell Technology by 125.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 336 shares during the period. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Trading Up 0.6 %

NASDAQ MRVL opened at $92.78 on Wednesday. Marvell Technology, Inc. has a 52 week low of $50.35 and a 52 week high of $95.09. The company has a 50 day moving average price of $77.65 and a 200 day moving average price of $72.31. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The firm has a market cap of $82.22 billion, a PE ratio of -83.59, a price-to-earnings-growth ratio of 4.01 and a beta of 1.44.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share 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 firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the firm earned $0.18 EPS. The business’s quarterly revenue was down 5.1% on a year-over-year basis. As a group, sell-side 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. Investors of record on Friday, October 11th were paid 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 dividend payout ratio (DPR) is presently -21.62%.

Analysts Set New Price Targets

MRVL has been the topic of a number of recent analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 price objective (up from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. Loop Capital initiated coverage on Marvell Technology in a research note on Monday. They set a “hold” rating and a $95.00 price target for the company. Benchmark increased their target price on Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. The Goldman Sachs Group lifted their target price on Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Evercore ISI upped their price target on shares of Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” 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 issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.77.

Insiders Place Their Bets

In other news, EVP Chris Koopmans sold 6,000 shares of the 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 transaction, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at approximately $8,823,637.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Marvell Technology news, CEO Matthew J. Murphy purchased 13,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was purchased at an average price of $77.63 per share, for a total transaction of $1,009,190.00. Following the purchase, the chief executive officer now directly owns 221,915 shares in the company, valued at approximately $17,227,261.45. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the completion of the sale, the executive vice president now directly owns 109,244 shares in the company, valued at $8,823,637.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 261,000 shares of company stock valued at $20,330,835. Insiders own 0.33% of the company’s stock.

Marvell Technology Company 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.