Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by Stifel Financial Corp

Stifel Financial Corp increased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 7.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,296,508 shares of the semiconductor company’s stock after buying an additional 90,140 shares during the period. Stifel Financial Corp owned about 0.15% of Marvell Technology worth $93,510,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of MRVL. Citizens Financial Group Inc. RI increased its position in Marvell Technology by 1.5% during the third quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock worth $566,000 after purchasing an additional 116 shares during the last quarter. Crumly & Associates Inc. increased its position in Marvell Technology by 1.5% during the third quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock worth $593,000 after purchasing an additional 121 shares during the last quarter. United Capital Management of KS Inc. increased its position in Marvell Technology by 0.4% during the third quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock worth $2,470,000 after purchasing an additional 131 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in Marvell Technology by 1.4% during the third quarter. Integrated Wealth Concepts LLC now owns 9,931 shares of the semiconductor company’s stock worth $716,000 after purchasing an additional 139 shares during the last quarter. Finally, ASB Consultores LLC increased its position in shares of Marvell Technology by 3.8% in the third quarter. ASB Consultores LLC now owns 3,824 shares of the semiconductor company’s stock worth $276,000 after acquiring an additional 140 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MRVL shares. Rosenblatt Securities increased their price objective on shares of Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday. 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. Susquehanna increased their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research report on Wednesday. Bank of America increased their price objective on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Craig Hallum increased their price objective on shares of Marvell Technology from $88.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $119.04.

Marvell Technology Stock Down 4.0 %

Shares of NASDAQ:MRVL opened at $113.37 on Friday. The stock has a market capitalization of $100.47 billion, a price-to-earnings ratio of -66.69, a price-to-earnings-growth ratio of 4.15 and a beta of 1.46. Marvell Technology, Inc. has a 1-year low of $50.35 and a 1-year high of $119.88. The company’s fifty day moving average is $85.24 and its two-hundred day moving average is $75.30. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders 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 0.21%. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Insider Buying and Selling

In related news, Director Ford Tamer sold 92,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $74.16, for a total value of $6,822,720.00. Following the sale, the director now owns 351,193 shares of the company’s stock, valued at $26,044,472.88. This trade represents a 20.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the completion of the sale, the insider now directly owns 694,487 shares in the company, valued at approximately $55,906,203.50. This trade represents a 17.76 % decrease in their position. 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 quarter. Company insiders own 0.33% of the company’s stock.

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.