Meeder Advisory Services Inc. Sells 733 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Meeder Advisory Services Inc. reduced its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 4.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,032 shares of the semiconductor company’s stock after selling 733 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Marvell Technology were worth $1,084,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MRVL. Strengthening Families & Communities LLC raised its stake in shares of Marvell Technology by 8.8% in the third quarter. Strengthening Families & Communities LLC now owns 33,428 shares of the semiconductor company’s stock worth $2,411,000 after buying an additional 2,717 shares during the period. Braun Stacey Associates Inc. bought a new position in shares of Marvell Technology during the 3rd quarter valued at approximately $16,435,000. Atlanta Consulting Group Advisors LLC purchased a new stake in Marvell Technology in the 3rd quarter worth approximately $272,000. Schear Investment Advisers LLC raised its stake in Marvell Technology by 3.0% during the 3rd quarter. Schear Investment Advisers LLC now owns 26,532 shares of the semiconductor company’s stock worth $1,913,000 after acquiring an additional 776 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in Marvell Technology by 10.7% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 775,450 shares of the semiconductor company’s stock valued at $55,925,000 after purchasing an additional 75,211 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marvell Technology

In related news, Director Ford Tamer sold 92,000 shares of Marvell Technology stock in a transaction dated 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 directly owns 351,193 shares in the company, valued at $26,044,472.88. The trade was a 20.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the completion of the sale, the insider now directly owns 694,487 shares of the company’s stock, valued at approximately $55,906,203.50. This trade represents a 17.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 267,000 shares of company stock valued at $20,899,260 in the last three months. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MRVL. Loop Capital initiated coverage on shares of Marvell Technology in a research note on Monday, November 11th. They set a “hold” rating and a $95.00 target price on the stock. Citigroup reiterated a “buy” rating and set a $91.00 target price on shares of Marvell Technology in a research report on Monday, October 14th. The Goldman Sachs Group boosted their price target on Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Marvell Technology in a report on Friday, August 30th. Finally, Benchmark boosted their target price on shares of Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $91.77.

Marvell Technology Stock Up 1.0 %

Marvell Technology stock opened at $88.71 on Tuesday. Marvell Technology, Inc. has a 1-year low of $50.35 and a 1-year high of $95.09. The company’s 50-day moving average is $79.28 and its 200 day moving average is $72.96. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26.

Marvell Technology (NASDAQ:MRVL) last posted 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. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the business earned $0.18 EPS. Marvell Technology’s revenue was down 5.1% compared to the same quarter last year. Equities research analysts anticipate that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

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

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.