Catalyst Capital Advisors LLC Has $49,000 Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Catalyst Capital Advisors LLC decreased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 18.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 677 shares of the semiconductor company’s stock after selling 152 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Marvell Technology were worth $49,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP acquired a new stake in Marvell Technology during the second quarter worth approximately $32,000. Strategic Investment Solutions Inc. IL acquired a new stake in Marvell Technology during the second quarter worth approximately $32,000. Whittier Trust Co. grew its position in Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after buying an additional 210 shares in the last quarter. Mark Sheptoff Financial Planning LLC acquired a new stake in Marvell Technology during the first quarter worth approximately $35,000. Finally, Exchange Traded Concepts LLC grew its position in Marvell Technology by 125.4% during the third quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock worth $44,000 after buying an additional 336 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insiders Place Their Bets

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Monday, October 21st. The stock was 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 in the company, valued at approximately $8,823,637.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Muhammad Raghib Hussain sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $12,075,000.00. Following the completion of the sale, the insider now directly owns 694,487 shares in the company, valued at $55,906,203.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.77, for a total value 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 approximately $8,823,637.88. This represents 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 worth $20,330,835. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MRVL shares. Rosenblatt Securities increased their price target on Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Bank of America increased their price target on Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. StockNews.com cut Marvell Technology from a “hold” rating to a “sell” rating in a research note on Friday, October 18th. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Finally, Piper Sandler restated an “overweight” rating and set a $100.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $91.62.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $90.63 on Thursday. The company has a market capitalization of $80.32 billion, a price-to-earnings ratio of -81.65, a PEG ratio of 3.67 and a beta of 1.44. Marvell Technology, Inc. has a twelve month low of $50.35 and a twelve month high of $91.71. The stock has a fifty day simple moving average of $76.04 and a 200 day simple moving average of $71.49. 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 (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the business posted $0.18 EPS. The business’s revenue was down 5.1% compared to the same quarter last year. Sell-side analysts expect that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.26%. Marvell Technology’s payout ratio is currently -21.62%.

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.