Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by Stifel Financial Corp

Stifel Financial Corp raised its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 7.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,296,508 shares of the semiconductor company’s stock after buying an additional 90,140 shares during the period. Stifel Financial Corp’s holdings in Marvell Technology were worth $93,510,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Safe Harbor Fiduciary LLC bought a new position in shares of Marvell Technology during the 3rd quarter valued at about $72,000. Quadrature Capital Ltd bought a new position in shares of Marvell Technology during the 3rd quarter valued at about $6,503,000. Quantinno Capital Management LP boosted its position in shares of Marvell Technology by 44.3% during the 3rd quarter. Quantinno Capital Management LP now owns 52,048 shares of the semiconductor company’s stock valued at $3,754,000 after purchasing an additional 15,968 shares in the last quarter. Quarry LP boosted its position in shares of Marvell Technology by 412.5% during the 3rd quarter. Quarry LP now owns 2,378 shares of the semiconductor company’s stock valued at $172,000 after purchasing an additional 1,914 shares in the last quarter. Finally, Royal London Asset Management Ltd. boosted its position in shares of Marvell Technology by 4.2% during the 3rd quarter. Royal London Asset Management Ltd. now owns 406,079 shares of the semiconductor company’s stock valued at $29,286,000 after purchasing an additional 16,442 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In other Marvell Technology news, Director Ford Tamer sold 92,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $74.16, for a total value of $6,822,720.00. Following the completion of the sale, the director now owns 351,193 shares in the company, valued at approximately $26,044,472.88. This trade represents a 20.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew J. Murphy sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $73.29, for a total value of $439,740.00. Following the completion of the sale, the chief executive officer now owns 208,915 shares of the company’s stock, valued at $15,311,380.35. This represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 267,000 shares of company stock worth $20,899,260 in the last 90 days. 0.33% of the stock is owned by company insiders.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $113.37 on Friday. The business has a 50 day moving average price of $85.24 and a 200 day moving average price of $75.30. Marvell Technology, Inc. has a twelve month low of $50.35 and a twelve month high of $119.88. The company has a market cap of $100.47 billion, a price-to-earnings ratio of -66.69, a PEG ratio of 4.15 and a beta of 1.46. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 annualized dividend and a yield of 0.21%. Marvell Technology’s payout ratio is -14.12%.

Analysts Set New Price Targets

Several research analysts have commented on MRVL shares. Susquehanna raised their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and issued a $120.00 price objective (up previously from $100.00) on shares of Marvell Technology in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday. TD Cowen increased their target price on Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Benchmark reiterated a “buy” rating and set a $135.00 price target (up previously from $115.00) on shares of Marvell Technology in a report on Wednesday. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.04.

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.