Vaughan Nelson Investment Management L.P. Grows Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

by · The Markets Daily

Vaughan Nelson Investment Management L.P. boosted its position in Marvell Technology, Inc. (NASDAQ:MRVL – Free Report) by 10.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 775,450 shares of the semiconductor company’s stock after buying an additional 75,211 shares during the quarter. Vaughan Nelson Investment Management L.P. owned 0.09% of Marvell Technology worth $55,925,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Strategic Investment Solutions Inc. IL purchased a new position in Marvell Technology in the second quarter valued at about $32,000. Quarry LP bought a new stake in shares of Marvell Technology in the second quarter worth $32,000. Whittier Trust Co. increased its stake in shares of Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after buying an additional 210 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in Marvell Technology by 125.4% in the third quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 336 shares in the last quarter. Finally, Unique Wealth Strategies LLC acquired a new position in Marvell Technology during the 2nd quarter worth $45,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Stock Performance

Shares of MRVL opened at $87.83 on Friday. 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 firm has a 50-day moving average price of $78.89 and a 200 day moving average price of $72.74. Marvell Technology, Inc. has a 52-week low of $50.35 and a 52-week high of $95.09.

Marvell Technology (NASDAQ:MRVL – Get Free Report) last announced its quarterly earnings data 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 positive return on equity of 4.31% and a negative net margin of 18.30%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The company’s revenue was down 5.1% on a year-over-year basis. On average, sell-side analysts predict that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.27%. The ex-dividend date was Friday, October 11th. Marvell Technology’s dividend payout ratio is presently -21.62%.

Insider Activity at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.77, for a total transaction of $484,620.00. Following the completion of the sale, the executive vice president now owns 109,244 shares in the company, valued at approximately $8,823,637.88. This represents a 5.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $70.83, for a total value of $177,075.00. Following the sale, the executive vice president now directly owns 22,494 shares of the company’s stock, valued at approximately $1,593,250.02. This represents a 10.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 259,500 shares of company stock valued at $20,230,710 over the last ninety days. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MRVL shares. Loop Capital began coverage on shares of Marvell Technology in a research note on Monday, November 11th. They issued a “hold” rating and a $95.00 target price on the stock. Rosenblatt Securities upped their price objective on Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Citigroup reiterated a “buy” rating and issued a $91.00 price target on shares of Marvell Technology in a report on Monday, October 14th. TD Cowen raised Marvell Technology to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $95.00 price objective (up previously from $90.00) on shares of Marvell Technology in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average price target of $91.77.

Check Out Our Latest Report on Marvell Technology

Marvell Technology Company Profile

(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.

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