Private Advisor Group LLC Reduces Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Private Advisor Group LLC reduced its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 2.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 46,073 shares of the semiconductor company’s stock after selling 1,043 shares during the period. Private Advisor Group LLC’s holdings in Marvell Technology were worth $3,322,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MRVL. Salomon & Ludwin LLC purchased a new position in Marvell Technology in the first quarter valued at about $31,000. Quarry LP acquired a new stake in shares of Marvell Technology during the second quarter worth approximately $32,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Marvell Technology during the second quarter worth approximately $32,000. Whittier Trust Co. raised its holdings in Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 210 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC bought a new position in Marvell Technology during the 1st quarter valued at $35,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MRVL has been the subject of several research analyst reports. StockNews.com downgraded shares of Marvell Technology from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. Morgan Stanley upped their price objective on Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, August 30th. KeyCorp boosted their price target on Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. The Goldman Sachs Group raised their price objective on Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, TD Cowen upgraded shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, September 16th. One 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.62.

Insider Buying and Selling at Marvell Technology

In other 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 completion of the sale, the chief financial officer now owns 113,253 shares in the company, valued at $7,559,637.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $66.75, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 directly owns 109,244 shares of the company’s stock, valued at $8,823,637.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 261,000 shares of company stock valued at $20,330,835. 0.33% of the stock is owned by corporate insiders.

Marvell Technology Trading Down 0.4 %

NASDAQ:MRVL opened at $81.61 on Monday. The stock has a market cap of $72.32 billion, a price-to-earnings ratio of -73.52, a PEG ratio of 3.62 and a beta of 1.45. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. Marvell Technology, Inc. has a 1 year low of $46.07 and a 1 year high of $85.76. The business has a fifty day moving average of $73.67 and a 200-day moving average of $70.54.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) 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 firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the firm posted $0.18 EPS. Marvell Technology’s revenue was down 5.1% compared to the same quarter last year. Equities analysts predict that Marvell Technology, Inc. will post 0.78 earnings per share for the current year.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be given a $0.06 dividend. The ex-dividend date is Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.29%. Marvell Technology’s dividend payout ratio (DPR) is -21.62%.

About Marvell Technology

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.