UMB Bank n.a. Reduces Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

UMB Bank n.a. cut its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 30.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,263 shares of the semiconductor company’s stock after selling 1,850 shares during the quarter. UMB Bank n.a.’s holdings in Marvell Technology were worth $307,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Wedmont Private Capital boosted its position in Marvell Technology by 10.5% in the 3rd quarter. Wedmont Private Capital now owns 9,381 shares of the semiconductor company’s stock valued at $692,000 after buying an additional 894 shares during the last quarter. CWM LLC boosted its holdings in Marvell Technology by 17.6% in the third quarter. CWM LLC now owns 25,122 shares of the semiconductor company’s stock valued at $1,812,000 after purchasing an additional 3,760 shares during the last quarter. Eagle Wealth Strategies LLC acquired a new stake in Marvell Technology during the 3rd quarter valued at approximately $380,000. Brookstone Capital Management purchased a new stake in Marvell Technology during the 3rd quarter worth approximately $216,000. Finally, Atomi Financial Group Inc. raised its position in shares of Marvell Technology by 34.7% in the 3rd quarter. Atomi Financial Group Inc. now owns 17,966 shares of the semiconductor company’s stock valued at $1,296,000 after purchasing an additional 4,626 shares in the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on MRVL shares. Roth Mkm restated a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a research note on Friday, August 30th. Needham & Company LLC reissued a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday. Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 price objective on shares of Marvell Technology in a report on Friday, August 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $100.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average target price of $91.62.

Insider Activity

In related news, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $73.88, for a total transaction of $369,400.00. Following the sale, the executive vice president now owns 110,318 shares of the company’s stock, valued at $8,150,293.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $73.88, for a total value of $369,400.00. Following the sale, the executive vice president now directly owns 110,318 shares in the company, valued at approximately $8,150,293.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ford Tamer sold 92,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $74.16, for a total transaction of $6,822,720.00. Following the transaction, the director now owns 351,193 shares of the company’s stock, valued at approximately $26,044,472.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,000 shares of company stock worth $8,130,685 over the last three months. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL opened at $74.01 on Friday. Marvell Technology, Inc. has a 12-month low of $46.07 and a 12-month high of $85.76. The company has a market cap of $64.06 billion, a PE ratio of -65.50, a P/E/G ratio of 3.17 and a beta of 1.45. The stock has a 50 day simple moving average of $69.90 and a 200-day simple moving average of $69.94. 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 (NASDAQ:MRVL) last announced 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 company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 EPS. On average, equities research analysts forecast that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend is Friday, October 11th. Marvell Technology’s dividend payout ratio is currently -21.24%.

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.