Value Aligned Research Advisors LLC Increases Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Value Aligned Research Advisors LLC raised its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 792,609 shares of the semiconductor company’s stock after purchasing an additional 9,384 shares during the quarter. Marvell Technology accounts for about 14.9% of Value Aligned Research Advisors LLC’s portfolio, making the stock its largest position. Value Aligned Research Advisors LLC’s holdings in Marvell Technology were worth $57,240,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Janus Henderson Group PLC raised its holdings in Marvell Technology by 13.4% during the 1st quarter. Janus Henderson Group PLC now owns 13,478,472 shares of the semiconductor company’s stock valued at $955,400,000 after buying an additional 1,591,874 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Marvell Technology by 24.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock worth $812,509,000 after acquiring an additional 2,254,610 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Marvell Technology by 26.6% during the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after purchasing an additional 1,570,050 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Marvell Technology by 3.0% during the 2nd quarter. Clearbridge Investments LLC now owns 5,189,682 shares of the semiconductor company’s stock worth $362,759,000 after purchasing an additional 150,109 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in Marvell Technology by 47,934.4% during the 1st quarter. Lazard Asset Management LLC now owns 4,001,745 shares of the semiconductor company’s stock valued at $283,643,000 after purchasing an additional 3,993,414 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $133,710.00. Following the sale, the chief financial officer now directly owns 114,211 shares of the company’s stock, valued at approximately $10,180,768.54. This represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s 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 sale, the executive vice president now owns 109,244 shares in the company, valued at approximately $8,823,637.88. This represents a 5.21 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 267,000 shares of company stock valued at $20,899,260. 0.33% of the stock is owned by company insiders.

Marvell Technology Trading Up 0.7 %

Marvell Technology stock opened at $89.34 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. The stock has a market cap of $79.17 billion, a PE ratio of -80.49, a price-to-earnings-growth ratio of 3.82 and a beta of 1.44. The stock has a 50-day moving average of $79.64 and a two-hundred day moving average of $73.10. Marvell Technology, Inc. has a one year low of $50.35 and a one year high of $95.09.

Marvell Technology (NASDAQ:MRVL) last released its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting 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 company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period last year, the business earned $0.18 EPS. Marvell Technology’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, research analysts anticipate that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The company 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. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.27%. Marvell Technology’s dividend payout ratio (DPR) is -21.62%.

Analyst Ratings Changes

Several research analysts have issued reports on MRVL shares. Piper Sandler restated an “overweight” rating and set a $100.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. Evercore ISI upped their price objective on Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Morgan Stanley lifted their target price on Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price target on shares of Marvell Technology in a report on Friday, August 30th. Finally, TD Cowen upgraded Marvell Technology to a “strong-buy” rating in a report on Monday, September 16th. One research 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, the company presently has an average rating of “Moderate Buy” and an average target price of $91.77.

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.