Peterson Wealth Management Acquires 187 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Peterson Wealth Management boosted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,532 shares of the semiconductor company’s stock after buying an additional 187 shares during the period. Peterson Wealth Management’s holdings in Marvell Technology were worth $1,264,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new stake in Marvell Technology during the second quarter worth about $32,000. Quarry LP bought a new stake in Marvell Technology during the second quarter worth about $32,000. Whittier Trust Co. lifted its stake in Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 210 shares during the last quarter. Briaud Financial Planning Inc bought a new stake in Marvell Technology during the third quarter worth about $43,000. Finally, Exchange Traded Concepts LLC lifted its stake in Marvell Technology by 125.4% during the third 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 last quarter. Institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MRVL shares. Susquehanna lifted their price target on Marvell Technology from $95.00 to $110.00 and gave the stock a “positive” rating in a research note on Wednesday. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd. Evercore ISI boosted their target price on Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Roth Mkm reissued a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Finally, Citigroup reissued a “buy” rating and issued a $91.00 target price on shares of Marvell Technology in a research note on Monday, October 14th. Three analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.39.

Insider Transactions at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the sale, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at $8,823,637.88. The trade was a 5.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $133,710.00. Following the completion of the transaction, the chief financial officer now directly owns 114,211 shares in the company, valued at $10,180,768.54. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 267,000 shares of company stock valued at $20,899,260 in the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Marvell Technology Stock Down 3.3 %

Shares of MRVL opened at $90.10 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. The business’s 50 day moving average price is $81.82 and its 200-day moving average price is $74.05. Marvell Technology, Inc. has a 52 week low of $50.35 and a 52 week high of $95.55.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly 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 positive return on equity of 4.31% and a negative net margin of 18.30%. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the firm posted $0.18 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, equities analysts predict that Marvell Technology, Inc. will post 0.78 earnings per share for the current year.

Marvell Technology Announces Dividend

The business 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 dividend payout ratio is currently -21.62%.

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.