Tradewinds LLC. Boosts Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Tradewinds LLC. raised its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 19.4% in the third quarter, HoldingsChannel reports. The firm owned 13,949 shares of the semiconductor company’s stock after buying an additional 2,264 shares during the quarter. Tradewinds LLC.’s holdings in Marvell Technology were worth $1,006,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Edgestream Partners L.P. bought a new position in Marvell Technology in the first quarter worth about $394,000. Covestor Ltd raised its position in shares of Marvell Technology by 231.1% in the 1st quarter. Covestor Ltd now owns 1,311 shares of the semiconductor company’s stock worth $93,000 after acquiring an additional 915 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of Marvell Technology by 22.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 26,743 shares of the semiconductor company’s stock valued at $1,896,000 after purchasing an additional 4,882 shares during the period. UniSuper Management Pty Ltd lifted its stake in shares of Marvell Technology by 93.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 12,200 shares of the semiconductor company’s stock valued at $865,000 after purchasing an additional 5,900 shares during the period. Finally, MQS Management LLC bought a new stake in shares of Marvell Technology during the first quarter valued at approximately $270,000. Institutional investors own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $534,840.00. Following the completion of the sale, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at $9,203,170.16. This represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $73.87, for a total transaction of $110,805.00. Following the transaction, the chief financial officer now owns 111,753 shares in the company, valued at approximately $8,255,194.11. This represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 267,000 shares of company stock worth $20,899,260. 0.33% of the stock is currently owned by insiders.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $89.86 on Thursday. 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 12-month low of $50.35 and a 12-month high of $95.09. The firm’s 50-day moving average price is $79.94 and its 200-day moving average price is $73.22.

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

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were paid a $0.06 dividend. The ex-dividend date was Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.27%. Marvell Technology’s payout ratio is -21.62%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Citigroup reissued a “buy” rating and set a $91.00 price objective on shares of Marvell Technology in a research report on Monday, October 14th. Needham & Company LLC restated a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Loop Capital assumed coverage on Marvell Technology in a research note on Monday, November 11th. They issued a “hold” rating and a $95.00 price target on the stock. Morgan Stanley upped their target price on shares of Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, August 30th. Finally, Benchmark boosted their price objective on Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and an average price target of $91.77.

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.