Briaud Financial Planning Inc Makes New $43,000 Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Briaud Financial Planning Inc bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 600 shares of the semiconductor company’s stock, valued at approximately $43,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC lifted its holdings in Marvell Technology by 6.1% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 382,288 shares of the semiconductor company’s stock worth $27,571,000 after buying an additional 21,985 shares in the last quarter. Avior Wealth Management LLC increased its position in shares of Marvell Technology by 26.2% in the 3rd quarter. Avior Wealth Management LLC now owns 1,363 shares of the semiconductor company’s stock valued at $98,000 after purchasing an additional 283 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Marvell Technology by 1.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 71,783 shares of the semiconductor company’s stock valued at $5,177,000 after purchasing an additional 1,062 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Marvell Technology in the 3rd quarter valued at approximately $6,466,000. Finally, Banque Cantonale Vaudoise increased its position in shares of Marvell Technology by 2.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 42,186 shares of the semiconductor company’s stock valued at $3,043,000 after purchasing an additional 1,184 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Marvell Technology

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MRVL. Roth Mkm reissued a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $95.00 target price (up from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. Morgan Stanley increased their target price on shares of Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. Loop Capital began coverage on shares of Marvell Technology in a research report on Monday, November 11th. They issued a “hold” rating and a $95.00 target price on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. One research 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, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus target price of $91.77.

Marvell Technology Stock Up 0.7 %

Shares of NASDAQ MRVL opened at $89.34 on Wednesday. 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, Inc. has a 52 week low of $50.35 and a 52 week high of $95.09. The firm has a 50-day moving average price of $79.64 and a 200 day moving average price of $73.10. The stock has a market capitalization of $79.17 billion, a price-to-earnings ratio of -80.49, a price-to-earnings-growth ratio of 3.82 and a beta of 1.44.

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. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.18 earnings per share. Equities research analysts anticipate that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were issued a dividend of $0.06 per share. 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 (DPR) is presently -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.