Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by MML Investors Services LLC

MML Investors Services LLC lifted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 7.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 144,967 shares of the semiconductor company’s stock after purchasing an additional 9,727 shares during the quarter. MML Investors Services LLC’s holdings in Marvell Technology were worth $10,455,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MRVL. K2 Principal Fund L.P. lifted its holdings in Marvell Technology by 4.4% during the 3rd quarter. K2 Principal Fund L.P. now owns 21,468 shares of the semiconductor company’s stock worth $1,548,000 after buying an additional 913 shares during the last quarter. Kensington Investment Counsel LLC boosted its stake in Marvell Technology by 17.5% in the third quarter. Kensington Investment Counsel LLC now owns 3,834 shares of the semiconductor company’s stock valued at $277,000 after acquiring an additional 571 shares in the last quarter. Tenere Capital LLC grew its holdings in shares of Marvell Technology by 28.8% during the third quarter. Tenere Capital LLC now owns 170,323 shares of the semiconductor company’s stock worth $12,284,000 after purchasing an additional 38,055 shares during the last quarter. Orion Portfolio Solutions LLC increased its position in shares of Marvell Technology by 1.0% during the third quarter. Orion Portfolio Solutions LLC now owns 25,289 shares of the semiconductor company’s stock worth $1,824,000 after purchasing an additional 249 shares in the last quarter. Finally, iA Global Asset Management Inc. lifted its holdings in shares of Marvell Technology by 1.8% in the 3rd quarter. iA Global Asset Management Inc. now owns 159,985 shares of the semiconductor company’s stock valued at $11,538,000 after purchasing an additional 2,767 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Marvell Technology news, insider Muhammad Raghib Hussain sold 150,000 shares of Marvell Technology stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $12,075,000.00. Following the sale, the insider now owns 694,487 shares of the company’s stock, valued at $55,906,203.50. This trade represents a 17.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 22,494 shares in the company, valued at approximately $1,593,250.02. This represents a 10.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 267,000 shares of company stock valued at $20,899,260. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Down 0.3 %

Shares of MRVL opened at $106.68 on Wednesday. The company has a 50-day moving average price of $87.51 and a two-hundred day moving average price of $76.04. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The stock has a market cap of $92.31 billion, a price-to-earnings ratio of -62.75, a P/E/G ratio of 3.79 and a beta of 1.46. Marvell Technology, Inc. has a 12 month low of $52.89 and a 12 month high of $119.88.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were issued 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 0.22%. Marvell Technology’s dividend payout ratio is -14.12%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of Marvell Technology from $87.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. UBS Group lifted their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Loop Capital raised their price target on Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Barclays upped their price objective on shares of Marvell Technology from $85.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Evercore ISI raised their price target on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and a consensus price target of $119.04.

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.