KG&L Capital Management LLC Sells 6,611 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

KG&L Capital Management LLC decreased its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 57.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,927 shares of the semiconductor company’s stock after selling 6,611 shares during the period. KG&L Capital Management LLC’s holdings in Marvell Technology were worth $355,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in MRVL. Tlwm increased its stake in shares of Marvell Technology by 1.6% in the second quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock worth $601,000 after purchasing an additional 136 shares in the last quarter. New Century Financial Group LLC increased its stake in shares of Marvell Technology by 3.0% in the third quarter. New Century Financial Group LLC now owns 5,428 shares of the semiconductor company’s stock worth $391,000 after purchasing an additional 156 shares in the last quarter. Parisi Gray Wealth Management increased its stake in shares of Marvell Technology by 4.2% in the third quarter. Parisi Gray Wealth Management now owns 4,161 shares of the semiconductor company’s stock worth $300,000 after purchasing an additional 166 shares in the last quarter. Sheaff Brock Investment Advisors LLC increased its stake in shares of Marvell Technology by 0.4% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 44,342 shares of the semiconductor company’s stock worth $3,143,000 after purchasing an additional 168 shares in the last quarter. Finally, Pathway Financial Advisers LLC increased its stake in shares of Marvell Technology by 1.2% in the second quarter. Pathway Financial Advisers LLC now owns 14,601 shares of the semiconductor company’s stock worth $1,019,000 after purchasing an additional 169 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Price Performance

MRVL opened at $84.38 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. The stock has a market capitalization of $74.78 billion, a P/E ratio of -76.02, a P/E/G ratio of 3.48 and a beta of 1.44. The company’s 50-day simple moving average is $74.94 and its two-hundred day simple moving average is $71.05. Marvell Technology, Inc. has a 52-week low of $50.35 and a 52-week high of $87.28.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, hitting 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 firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the prior year, the business earned $0.18 EPS. The business’s quarterly revenue was down 5.1% on a year-over-year basis. As a group, analysts predict that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.28%. The ex-dividend date was Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -21.62%.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CEO Matthew J. Murphy sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $73.29, for a total transaction of $439,740.00. Following the sale, the chief executive officer now owns 208,915 shares in the company, valued at approximately $15,311,380.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $66.75, for a total transaction of $100,125.00. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Matthew J. Murphy sold 6,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $73.29, for a total transaction of $439,740.00. Following the sale, the chief executive officer now directly owns 208,915 shares of the company’s stock, valued at approximately $15,311,380.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 261,000 shares of company stock worth $20,330,835 in the last quarter. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

MRVL has been the subject of several recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Barclays boosted their price target on shares of Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Citigroup restated a “buy” rating and issued a $91.00 price objective on shares of Marvell Technology in a report on Monday, October 14th. Rosenblatt Securities boosted their price objective on shares of Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Piper Sandler reiterated an “overweight” rating and set a $100.00 price target on shares of Marvell Technology in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, one has given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.62.

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.