Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by MeadowBrook Investment Advisors LLC

MeadowBrook Investment Advisors LLC reduced its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 0.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,940 shares of the semiconductor company’s stock after selling 140 shares during the quarter. Marvell Technology comprises approximately 1.0% of MeadowBrook Investment Advisors LLC’s portfolio, making the stock its 27th biggest position. MeadowBrook Investment Advisors LLC’s holdings in Marvell Technology were worth $1,077,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Davidson Kempner Capital Management LP lifted its position in Marvell Technology by 26.5% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock worth $17,482,000 after acquiring an additional 52,365 shares during the period. Diversified Trust Co purchased a new position in Marvell Technology in the 2nd quarter valued at $932,000. Orion Portfolio Solutions LLC increased its stake in Marvell Technology by 47.1% in the 1st quarter. Orion Portfolio Solutions LLC now owns 32,191 shares of the semiconductor company’s stock valued at $2,282,000 after buying an additional 10,306 shares during the period. WD Rutherford LLC raised its position in Marvell Technology by 182.5% during the 3rd quarter. WD Rutherford LLC now owns 18,266 shares of the semiconductor company’s stock worth $1,317,000 after buying an additional 11,801 shares during the last quarter. Finally, Silicon Valley Capital Partners lifted its stake in shares of Marvell Technology by 254.6% in the 3rd quarter. Silicon Valley Capital Partners now owns 32,978 shares of the semiconductor company’s stock worth $2,378,000 after acquiring an additional 23,678 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MRVL. Rosenblatt Securities boosted their price target on shares of Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Needham & Company LLC reiterated a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. Roth Mkm reissued a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a report on Friday, August 30th. Loop Capital assumed coverage on Marvell Technology in a report on Monday. They set a “hold” rating and a $95.00 price objective on the stock. Finally, Benchmark raised their target price on Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus target price of $91.77.

Marvell Technology Price Performance

Shares of MRVL traded up $1.13 during trading hours on Thursday, reaching $91.20. 1,128,181 shares of the company traded hands, compared to its average volume of 12,119,780. The stock has a fifty day simple moving average of $78.04 and a 200 day simple moving average of $72.43. Marvell Technology, Inc. has a fifty-two week low of $50.35 and a fifty-two week high of $95.09. The stock has a market capitalization of $80.82 billion, a PE ratio of -81.14, a price-to-earnings-growth ratio of 4.03 and a beta of 1.44. 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 released its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. The company 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 firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period last year, the company earned $0.18 EPS. As a group, research analysts predict that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal 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 $0.06 dividend. The ex-dividend date was Friday, October 11th. This represents a $0.24 annualized dividend and a yield of 0.26%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.62%.

Insiders Place Their Bets

In other news, Director Ford Tamer sold 92,000 shares of Marvell Technology stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $74.16, for a total value of $6,822,720.00. Following the completion of the sale, the director now owns 351,193 shares of the company’s stock, valued at $26,044,472.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Ford Tamer sold 92,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $74.16, for a total value of $6,822,720.00. Following the sale, the director now directly owns 351,193 shares of the company’s stock, valued at approximately $26,044,472.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Muhammad Raghib Hussain sold 150,000 shares of Marvell Technology stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the completion of the transaction, the insider now owns 694,487 shares in the company, valued at approximately $55,906,203.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 259,500 shares of company stock valued at $20,230,710 in the last quarter. 0.33% of the stock is currently owned by company insiders.

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.