CENTRAL TRUST Co Decreases Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

CENTRAL TRUST Co lessened its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 41.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,820 shares of the semiconductor company’s stock after selling 1,276 shares during the quarter. CENTRAL TRUST Co’s holdings in Marvell Technology were worth $131,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in MRVL. Tlwm raised its stake in shares of Marvell Technology by 1.6% during the second quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock valued at $601,000 after acquiring an additional 136 shares during the last quarter. New Century Financial Group LLC raised its position in Marvell Technology by 3.0% during the 3rd quarter. New Century Financial Group LLC now owns 5,428 shares of the semiconductor company’s stock valued at $391,000 after purchasing an additional 156 shares during the last quarter. Parisi Gray Wealth Management lifted its holdings in Marvell Technology by 4.2% in the 3rd quarter. Parisi Gray Wealth Management now owns 4,161 shares of the semiconductor company’s stock worth $300,000 after buying an additional 166 shares during the period. Sheaff Brock Investment Advisors LLC grew its position in shares of Marvell Technology by 0.4% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 44,342 shares of the semiconductor company’s stock worth $3,143,000 after buying an additional 168 shares during the last quarter. Finally, Pathway Financial Advisers LLC increased its stake in shares of Marvell Technology by 1.2% during the second quarter. Pathway Financial Advisers LLC now owns 14,601 shares of the semiconductor company’s stock valued at $1,019,000 after buying an additional 169 shares during the period. Institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the completion of the sale, the executive vice president now owns 109,244 shares of the company’s stock, valued at $8,823,637.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Marvell Technology news, insider Muhammad Raghib Hussain sold 150,000 shares of the business’s 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 owns 694,487 shares of the company’s stock, valued at approximately $55,906,203.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the completion of the transaction, the executive vice president now directly owns 109,244 shares in the company, valued at $8,823,637.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 261,000 shares of company stock valued at $20,330,835. 0.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MRVL has been the topic of several recent analyst reports. TD Cowen upgraded shares of Marvell Technology to a “strong-buy” rating in a report on Monday, September 16th. Evercore ISI boosted their price target on shares of Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. KeyCorp raised their target price on Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. The Goldman Sachs Group upped their target price on shares of Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Barclays lifted their price target on shares of Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.62.

Marvell Technology Price Performance

MRVL opened at $81.61 on Monday. The company’s 50-day simple moving average is $73.67 and its two-hundred day simple moving average is $70.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. The stock has a market capitalization of $72.32 billion, a P/E ratio of -73.52, a P/E/G ratio of 3.62 and a beta of 1.45. Marvell Technology, Inc. has a 52-week low of $46.07 and a 52-week high of $85.76.

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

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors 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 yield of 0.29%. The ex-dividend date of this dividend is 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.