Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Nvwm LLC

Nvwm LLC reduced its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 52.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 19,687 shares of the semiconductor company’s stock after selling 22,090 shares during the period. Nvwm LLC’s holdings in Marvell Technology were worth $1,420,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in MRVL. Lazard Asset Management LLC boosted its holdings in shares of Marvell Technology by 47,934.4% in the 1st quarter. Lazard Asset Management LLC now owns 4,001,745 shares of the semiconductor company’s stock valued at $283,643,000 after purchasing an additional 3,993,414 shares during the last quarter. Whale Rock Capital Management LLC acquired a new position in Marvell Technology in the first quarter valued at $181,559,000. Ameriprise Financial Inc. grew its position in Marvell Technology by 24.1% during the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after acquiring an additional 2,254,610 shares during the period. Swedbank AB increased its stake in Marvell Technology by 653.5% during the second quarter. Swedbank AB now owns 2,334,015 shares of the semiconductor company’s stock worth $163,148,000 after acquiring an additional 2,024,269 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Marvell Technology by 13.4% in the 1st quarter. Janus Henderson Group PLC now owns 13,478,472 shares of the semiconductor company’s stock valued at $955,400,000 after purchasing an additional 1,591,874 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

MRVL has been the subject of a number of recent analyst reports. Citigroup reaffirmed a “buy” rating and set a $91.00 price target on shares of Marvell Technology in a report on Monday, October 14th. Bank of America lifted their target price on Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Rosenblatt Securities boosted their price target on Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Barclays raised their price objective on Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Finally, StockNews.com lowered Marvell Technology from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has assigned 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, the company has an average rating of “Moderate Buy” and an average target price of $91.62.

Insider Buying and Selling at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $66.75, for a total transaction of $100,125.00. Following the sale, the chief financial officer now owns 113,253 shares of the company’s stock, valued at approximately $7,559,637.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $66.75, for a total value of $100,125.00. Following the completion of the transaction, the chief financial officer now directly owns 113,253 shares of the company’s stock, valued at $7,559,637.75. This trade represents 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 through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $80.77, for a total transaction of $484,620.00. Following the completion of the sale, the executive vice president now directly owns 109,244 shares in the company, valued at approximately $8,823,637.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 261,000 shares of company stock worth $20,330,835 over the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Marvell Technology Trading Up 5.8 %

Shares of Marvell Technology stock traded up $4.66 on Friday, reaching $84.77. 20,330,467 shares of the company were exchanged, compared to its average volume of 9,969,209. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. Marvell Technology, Inc. has a fifty-two week low of $48.44 and a fifty-two week high of $87.28. The firm has a market capitalization of $75.12 billion, a price-to-earnings ratio of -76.37, a price-to-earnings-growth ratio of 3.48 and a beta of 1.44. The stock has a fifty day moving average price of $74.94 and a 200-day moving average price of $71.02.

Marvell Technology (NASDAQ:MRVL) last issued its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. The company 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 firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 EPS. On average, analysts expect that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.28%. Marvell Technology’s dividend payout ratio is -21.62%.

Marvell Technology Company 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.