Fidelis Capital Partners LLC Makes New Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Fidelis Capital Partners LLC acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,786 shares of the semiconductor company’s stock, valued at approximately $273,000.

Several other large investors also recently added to or reduced their stakes in MRVL. Wealth Enhancement Advisory Services LLC increased its stake in Marvell Technology by 3.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 47,290 shares of the semiconductor company’s stock worth $3,352,000 after acquiring an additional 1,501 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Marvell Technology by 39.0% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 8,151 shares of the semiconductor company’s stock valued at $578,000 after buying an additional 2,286 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Marvell Technology by 2.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,162,351 shares of the semiconductor company’s stock valued at $153,267,000 after buying an additional 47,855 shares during the last quarter. Azzad Asset Management Inc. ADV grew its stake in shares of Marvell Technology by 43.8% during the first quarter. Azzad Asset Management Inc. ADV now owns 15,523 shares of the semiconductor company’s stock valued at $1,100,000 after buying an additional 4,730 shares during the last quarter. Finally, Norden Group LLC bought a new position in shares of Marvell Technology during the first quarter valued at approximately $2,374,000. 83.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MRVL has been the topic of a number of analyst reports. Citigroup reaffirmed a “buy” rating and set a $91.00 target price on shares of Marvell Technology in a research note on Monday, October 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Bank of America upped 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. Needham & Company LLC reiterated a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a report on Friday, August 30th. Finally, StockNews.com lowered Marvell Technology from a “hold” rating to a “sell” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.62.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $82.80 on Thursday. The business’s fifty day simple moving average is $74.22 and its 200-day simple moving average is $70.73. The company has a market cap of $73.38 billion, a PE ratio of -74.59, a PEG ratio of 3.55 and a beta of 1.45. 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.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.30. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 earnings per share. Analysts expect that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, October 11th. Marvell Technology’s payout ratio is presently -21.62%.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $66.75, for a total value of $100,125.00. Following the transaction, the chief financial officer now directly owns 113,253 shares of the company’s stock, valued at $7,559,637.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $66.75, for a total value of $100,125.00. Following the transaction, the chief financial officer now directly owns 113,253 shares of the company’s stock, valued at $7,559,637.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $12,075,000.00. Following the completion of the transaction, the insider now directly owns 694,487 shares in the company, valued at approximately $55,906,203.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 261,000 shares of company stock valued at $20,330,835. Corporate 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.