CVA Family Office LLC Cuts Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

CVA Family Office LLC lowered its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 11.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,888 shares of the semiconductor company’s stock after selling 357 shares during the quarter. CVA Family Office LLC’s holdings in Marvell Technology were worth $178,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of MRVL. Centricity Wealth Management LLC purchased a new stake in shares of Marvell Technology during the fourth quarter worth $26,000. Rialto Wealth Management LLC purchased a new position in Marvell Technology in the fourth quarter valued at $27,000. Lee Danner & Bass Inc. purchased a new position in Marvell Technology in the fourth quarter valued at $35,000. Capital Analysts LLC increased its holdings in Marvell Technology by 236.3% in the fourth quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 241 shares during the last quarter. Finally, Sierra Ocean LLC purchased a new position in Marvell Technology in the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

MRVL has been the topic of several recent analyst reports. Needham & Company LLC dropped their target price on Marvell Technology from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, May 30th. KeyCorp dropped their target price on Marvell Technology from $115.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, May 30th. Bank of America dropped their target price on Marvell Technology from $120.00 to $72.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Melius lowered Marvell Technology from a “buy” rating to a “hold” rating and set a $66.00 target price on the stock. in a report on Thursday, May 22nd. Finally, Stifel Nicolaus decreased their price objective on shares of Marvell Technology from $115.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Seven investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.73.

Insider Transactions at Marvell Technology

In other news, CAO Panteha Dixon sold 1,430 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the transaction, the chief accounting officer now directly owns 31,100 shares of the company’s stock, valued at $2,138,125. This trade represents a 4.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark Casper sold 12,460 shares of the firm’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $685,300.00. The disclosure for this sale can be found here. Insiders sold a total of 33,541 shares of company stock valued at $2,079,948 in the last ninety days. Corporate insiders own 0.19% of the company’s stock.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $67.19 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The company has a market cap of $58.04 billion, a P/E ratio of -39.52, a PEG ratio of 1.61 and a beta of 1.76. Marvell Technology, Inc. has a 52 week low of $47.09 and a 52 week high of $127.48. The company has a 50-day moving average price of $60.30 and a 200 day moving average price of $85.17.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. Marvell Technology had a negative net margin of 27.49% and a positive return on equity of 4.59%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the firm earned $0.24 earnings per share. The firm’s revenue was up 63.3% compared to the same quarter last year. Research analysts predict that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.36%. Marvell Technology’s dividend payout ratio (DPR) is -42.11%.

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.