Marvell Technology, Inc. (NASDAQ:MRVL) Position Decreased by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC cut its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 10.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,658,283 shares of the semiconductor company’s stock after selling 194,205 shares during the quarter. Marvell Technology comprises approximately 2.3% of Ceredex Value Advisors LLC’s investment portfolio, making the stock its biggest holding. Ceredex Value Advisors LLC owned 0.19% of Marvell Technology worth $119,595,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Marvell Technology by 0.6% in the first quarter. Vanguard Group Inc. now owns 72,810,448 shares of the semiconductor company’s stock valued at $5,160,805,000 after purchasing an additional 468,086 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Marvell Technology by 13.4% in the first quarter. Janus Henderson Group PLC now owns 13,478,472 shares of the semiconductor company’s stock valued at $955,400,000 after purchasing an additional 1,591,874 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Marvell Technology by 24.1% in the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after purchasing an additional 2,254,610 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Marvell Technology by 17.6% in the second quarter. Van ECK Associates Corp now owns 5,901,773 shares of the semiconductor company’s stock valued at $412,533,000 after purchasing an additional 884,380 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in Marvell Technology by 3.0% in the second quarter. Clearbridge Investments LLC now owns 5,189,682 shares of the semiconductor company’s stock valued at $362,759,000 after purchasing an additional 150,109 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Citigroup reaffirmed a “buy” rating and issued a $91.00 price target on shares of Marvell Technology in a report on Monday, October 14th. KeyCorp upped their price objective 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. Stifel Nicolaus reiterated a “buy” rating and issued a $95.00 price objective (up previously from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. Needham & Company LLC reiterated a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. Finally, TD Cowen upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, September 16th. 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 given a strong buy rating to the company. Based on data from MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average price target of $91.62.

Insider Activity

In related news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 113,253 shares of the company’s stock, valued at approximately $7,559,637.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 113,253 shares of the company’s stock, valued at approximately $7,559,637.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $70.83, for a total transaction of $177,075.00. Following the transaction, the executive vice president now directly owns 22,494 shares of the company’s stock, valued at $1,593,250.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 261,000 shares of company stock valued at $20,330,835 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Marvell Technology Stock Up 5.8 %

Shares of NASDAQ MRVL opened at $84.77 on Friday. Marvell Technology, Inc. has a 12-month low of $48.44 and a 12-month high of $87.28. The stock has a market cap of $75.12 billion, a PE ratio of -76.37, a P/E/G ratio of 3.60 and a beta of 1.45. 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 company has a 50-day moving average of $74.68 and a 200 day moving average of $70.88.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, meeting the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the prior year, the company posted $0.18 EPS. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, sell-side analysts predict that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were paid a $0.06 dividend. The ex-dividend date was Friday, October 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.28%. Marvell Technology’s dividend payout ratio (DPR) is -21.62%.

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.