3 days Ago By ABMN Staff
Johnson Investment Counsel Inc. lifted its stake in Marvell Technology, Inc. ( NASDAQ:MRVL – Free Report ) by 5.
6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,396 shares of the semiconductor company’s stock after purchasing an additional 181 shares during the quarter. Johnson Investment Counsel Inc.
’s holdings in Marvell Technology were worth $237,000 as of its most recent filing with the Securities & Exchange Commission. Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bruce G.
Allen Investments LLC grew its stake in shares of Marvell Technology by 56.4% in the first quarter. Bruce G.
Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 141 shares during the last quarter. Salomon & Ludwin LLC bought a new stake in Marvell Technology during the 1st quarter valued at about $31,000. Optimum Investment Advisors bought a new position in shares of Marvell Technology in the first quarter worth approximately $35,000.
Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Marvell Technology during the first quarter valued at approximately $35,000. Finally, Bogart Wealth LLC increased its position in shares of Marvell Technology by 1,480.0% during the first quarter.
Bogart Wealth LLC now owns 632 shares of the semiconductor company’s stock valued at $45,000 after acquiring an additional 592 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.
Marvell Technology Trading Up 0.2 % Marvell Technology stock opened at $74.48 on Monday.
The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.
28. Marvell Technology, Inc. has a 12-month low of $46.
07 and a 12-month high of $85.76. The firm has a market capitalization of $66.
00 billion, a price-to-earnings ratio of -65.91, a P/E/G ratio of 3.29 and a beta of 1.
46. The firm has a 50 day moving average of $68.26 and a 200 day moving average of $69.
77. Marvell Technology Dividend Announcement The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 12th were paid a dividend of $0.
06 per share. The ex-dividend date of this dividend was Friday, July 12th. This represents a $0.
24 dividend on an annualized basis and a dividend yield of 0.32%. Marvell Technology’s dividend payout ratio is presently -21.
24%. Analyst Ratings Changes MRVL has been the topic of several recent analyst reports. Bank of America increased their target price on Marvell Technology from $85.
00 to $90.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Piper Sandler reiterated an “overweight” rating and issued a $100.
00 price objective on shares of Marvell Technology in a report on Friday, August 30th. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a research note on Friday, August 30th.
Evercore ISI lifted their price target on shares of Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th.
Finally, Stifel Nicolaus reissued a “buy” rating and set a $95.00 price objective (up from $90.00) on shares of Marvell Technology in a report on Friday, August 30th.
One analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.62.
View Our Latest Research Report on Marvell Technology Insider Buying and Selling In other Marvell Technology news, insider Muhammad Raghib Hussain sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $75.00, for a total transaction of $3,750,000.
00. Following the completion of the transaction, the insider now owns 838,571 shares in the company, valued at $62,892,825. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link .
In related news, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $70.07, for a total value of $175,175.
00. Following the transaction, the executive vice president now owns 20,450 shares of the company’s stock, valued at approximately $1,432,931.50.
The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link . Also, insider Muhammad Raghib Hussain sold 50,000 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $75.
00, for a total transaction of $3,750,000.00. Following the completion of the sale, the insider now directly owns 838,571 shares of the company’s stock, valued at $62,892,825.
The disclosure for this sale can be found here . Insiders have sold 60,500 shares of company stock valued at $4,505,520 in the last ninety days. 0.
33% of the stock is owned by company insiders. About Marvell Technology ( Free Report ) 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.
Read More Want to see what other hedge funds are holding MRVL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marvell Technology, Inc. ( NASDAQ:MRVL – Free Report ).
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