Segall Bryant & Hamill LLC Has $27.57 Million Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Segall Bryant & Hamill LLC increased its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 6.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 382,288 shares of the semiconductor company’s stock after buying an additional 21,985 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Marvell Technology were worth $27,571,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MRVL. Edgestream Partners L.P. bought a new stake in Marvell Technology during the first quarter worth about $394,000. Covestor Ltd boosted its position in shares of Marvell Technology by 231.1% during the 1st quarter. Covestor Ltd now owns 1,311 shares of the semiconductor company’s stock worth $93,000 after acquiring an additional 915 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in Marvell Technology by 22.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 26,743 shares of the semiconductor company’s stock valued at $1,896,000 after acquiring an additional 4,882 shares during the last quarter. UniSuper Management Pty Ltd raised its position in Marvell Technology by 93.7% during the first quarter. UniSuper Management Pty Ltd now owns 12,200 shares of the semiconductor company’s stock valued at $865,000 after purchasing an additional 5,900 shares in the last quarter. Finally, MQS Management LLC bought a new stake in Marvell Technology during the first quarter worth $270,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction that occurred 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 owns 22,494 shares of the company’s stock, valued at $1,593,250.02. The trade was a 10.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $73.87, for a total transaction of $110,805.00. Following the completion of the transaction, the chief financial officer now directly owns 111,753 shares of the company’s stock, valued at approximately $8,255,194.11. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 267,000 shares of company stock valued at $20,899,260. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MRVL shares. Benchmark increased their target price on shares of Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Stifel Nicolaus reiterated a “buy” rating and set a $95.00 price target (up from $90.00) on shares of Marvell Technology in a report on Friday, August 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price target on shares of Marvell Technology in a research note on Friday, August 30th. Roth Mkm reiterated a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Finally, The Goldman Sachs Group lifted their price target on Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.77.

Marvell Technology Price Performance

Marvell Technology stock opened at $89.34 on Wednesday. The stock has a market cap 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. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. Marvell Technology, Inc. has a 1 year low of $50.35 and a 1 year high of $95.09. The firm has a 50-day moving average of $79.64 and a two-hundred day moving average of $73.10.

Marvell Technology (NASDAQ:MRVL) last posted its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. Marvell Technology’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.18 earnings per share. On average, research analysts forecast that Marvell Technology, Inc. will post 0.78 earnings per share for the current year.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Friday, October 11th. 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.