Cambridge Investment Research Advisors Inc. Sells 11,051 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Cambridge Investment Research Advisors Inc. reduced its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 10.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 94,881 shares of the semiconductor company’s stock after selling 11,051 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Marvell Technology were worth $6,632,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Diversified Trust Co purchased a new stake in Marvell Technology in the second quarter valued at about $932,000. Orion Portfolio Solutions LLC raised its position in shares of Marvell Technology by 47.1% in the 1st quarter. Orion Portfolio Solutions LLC now owns 32,191 shares of the semiconductor company’s stock valued at $2,282,000 after purchasing an additional 10,306 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Marvell Technology by 157.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 772 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 472 shares in the last quarter. Hoylecohen LLC purchased a new stake in Marvell Technology during the 4th quarter worth approximately $658,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Marvell Technology by 20.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 529,127 shares of the semiconductor company’s stock valued at $37,505,000 after purchasing an additional 88,918 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Jefferies Financial Group initiated coverage on shares of Marvell Technology in a research note on Monday, May 13th. They set a “buy” rating and a $85.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 price target on shares of Marvell Technology in a research note on Friday, May 31st. Evercore ISI increased their price objective on Marvell Technology from $88.00 to $91.00 and gave the company an “outperform” rating in a report on Friday, May 31st. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 target price on shares of Marvell Technology in a report on Thursday, August 22nd. Finally, Stifel Nicolaus increased their price target on shares of Marvell Technology from $86.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $86.05.

Insider Buying and Selling

In other Marvell Technology news, insider Muhammad Raghib Hussain sold 50,000 shares of the 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 of the company’s stock, valued at $62,892,825. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Marvell Technology news, insider Muhammad Raghib Hussain sold 50,000 shares of Marvell Technology stock in a transaction on 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 sale, the insider now owns 838,571 shares of the company’s stock, valued at approximately $62,892,825. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $73.42, for a total transaction of $367,100.00. Following the completion of the sale, the executive vice president now owns 115,318 shares of the company’s stock, valued at $8,466,647.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,500 shares of company stock worth $4,872,620. Insiders own 0.33% of the company’s stock.

Marvell Technology Trading Down 1.8 %

Shares of MRVL stock opened at $68.44 on Thursday. Marvell Technology, Inc. has a 1-year low of $46.07 and a 1-year high of $85.76. The company has a market cap of $59.24 billion, a price-to-earnings ratio of -60.57, a PEG ratio of 2.99 and a beta of 1.47. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.80 and a quick ratio of 1.24. The stock has a 50 day simple moving average of $67.93 and a 200-day simple moving average of $69.42.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.24. Marvell Technology had a negative net margin of 18.33% and a positive return on equity of 4.51%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the business posted $0.17 earnings per share. The firm’s revenue for the quarter was down 12.2% on a year-over-year basis. On average, equities research analysts expect that Marvell Technology, Inc. will post 0.75 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 12th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Friday, July 12th. Marvell Technology’s dividend payout ratio is presently -21.24%.

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.