Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Journey Advisory Group LLC

Journey Advisory Group LLC decreased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 4.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,100 shares of the semiconductor company’s stock after selling 299 shares during the period. Journey Advisory Group LLC’s holdings in Marvell Technology were worth $496,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MRVL. CreativeOne Wealth LLC acquired a new stake in Marvell Technology during the first quarter worth $393,000. Axxcess Wealth Management LLC purchased a new stake in Marvell Technology in the 1st quarter valued at about $204,000. BOKF NA raised its holdings in Marvell Technology by 294.9% in the 1st quarter. BOKF NA now owns 36,594 shares of the semiconductor company’s stock valued at $2,679,000 after buying an additional 27,327 shares during the period. Caxton Associates LP acquired a new position in Marvell Technology in the first quarter valued at about $4,958,000. Finally, Bayesian Capital Management LP purchased a new position in Marvell Technology during the first quarter worth about $922,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MRVL shares. Piper Sandler reissued an “overweight” rating and issued a $100.00 price target 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 set a “hold” rating and a $95.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a research report on Friday, August 30th. Roth Mkm reiterated a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a report on Friday, August 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Three investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average target price of $91.77.

Marvell Technology Stock Down 0.5 %

Shares of NASDAQ:MRVL opened at $92.51 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. The firm has a 50 day simple moving average of $80.67 and a 200-day simple moving average of $73.51. The company has a market capitalization of $81.98 billion, a PE ratio of -83.34, a P/E/G ratio of 4.04 and a beta of 1.44. Marvell Technology, Inc. has a twelve month low of $50.35 and a twelve month high of $95.09.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the firm posted $0.18 earnings per share. Marvell Technology’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, equities analysts predict that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal year.

Marvell Technology Announces Dividend

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

Insider Activity

In related news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $73.87, for a total value of $110,805.00. Following the transaction, the chief financial officer now owns 111,753 shares in the company, valued at $8,255,194.11. The trade was a 1.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $12,075,000.00. Following the sale, the insider now directly owns 694,487 shares of the company’s stock, valued at approximately $55,906,203.50. This represents a 17.76 % 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 valued at $20,899,260. 0.33% of the stock is currently owned by company insiders.

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.