Dorsey & Whitney Trust CO LLC Purchases 284 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Dorsey & Whitney Trust CO LLC boosted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,472 shares of the semiconductor company’s stock after acquiring an additional 284 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Marvell Technology were worth $1,361,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC raised its stake in Marvell Technology by 56.4% during the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 141 shares during the period. Salomon & Ludwin LLC purchased a new position in shares of Marvell Technology in the first quarter worth $31,000. Optimum Investment Advisors purchased a new position in shares of Marvell Technology in the first quarter worth $35,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Marvell Technology in the first quarter worth $35,000. Finally, Bogart Wealth LLC lifted its holdings in shares of Marvell Technology by 1,480.0% in the first quarter. Bogart Wealth LLC now owns 632 shares of the semiconductor company’s stock worth $45,000 after buying an additional 592 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $66.75, for a total value of $100,125.00. Following the transaction, the chief financial officer now directly owns 113,253 shares in the company, valued at $7,559,637.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Chris Koopmans sold 5,000 shares of the company’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 completion of the sale, the executive vice president now directly owns 110,318 shares of the company’s stock, valued at $8,150,293.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s 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 completion of the sale, the chief financial officer now directly owns 113,253 shares of the company’s stock, valued at $7,559,637.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,500 shares of company stock worth $4,872,620. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on MRVL shares. Barclays boosted their target price on shares of Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Piper Sandler reissued an “overweight” rating and issued a $100.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Evercore ISI boosted their target price on shares of Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 target price (up previously from $90.00) on shares of Marvell Technology in a report on Friday, August 30th. Finally, StockNews.com downgraded shares of Marvell Technology from a “hold” rating to a “sell” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $91.62.

Marvell Technology Trading Up 3.9 %

MRVL stock opened at $71.60 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. Marvell Technology, Inc. has a twelve month low of $46.07 and a twelve month high of $85.76. The stock has a market capitalization of $63.45 billion, a price-to-earnings ratio of -63.36, a price-to-earnings-growth ratio of 2.91 and a beta of 1.46. The firm’s fifty day simple moving average is $68.11 and its two-hundred day simple moving average is $69.66.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. The firm had revenue of $1.27 billion for 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%. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 earnings per share. As a group, analysts anticipate that Marvell Technology, Inc. will post 0.77 earnings per share for the current year.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 12th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Friday, July 12th. Marvell Technology’s 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.