Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by Whalen Wealth Management Inc.

Whalen Wealth Management Inc. boosted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 21.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,826 shares of the semiconductor company’s stock after buying an additional 2,097 shares during the quarter. Whalen Wealth Management Inc.’s holdings in Marvell Technology were worth $853,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Marvell Technology during the second quarter worth about $32,000. Quarry LP acquired a new stake in shares of Marvell Technology during the second quarter worth $32,000. Whittier Trust Co. boosted its holdings 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 in the last quarter. Exchange Traded Concepts LLC boosted its holdings in Marvell Technology by 125.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 336 shares in the last quarter. Finally, Unique Wealth Strategies LLC acquired a new position in Marvell Technology during the second quarter worth $45,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00. Following the sale, the executive vice president now owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. This represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was 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 trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 267,000 shares of company stock valued at $20,899,260 over the last quarter. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. StockNews.com cut Marvell Technology from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. Morgan Stanley increased their price objective on shares of Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. Roth Mkm reiterated a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a report on Friday, August 30th. The Goldman Sachs Group boosted their price objective on shares of Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $100.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.77.

Marvell Technology Stock Performance

Marvell Technology stock opened at $88.71 on Tuesday. The company’s 50 day simple moving average is $79.28 and its 200 day simple moving average is $72.96. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. Marvell Technology, Inc. has a fifty-two week low of $50.35 and a fifty-two week high of $95.09.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. Marvell Technology’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 EPS. As a group, equities analysts anticipate that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.27%. Marvell Technology’s payout ratio 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.