Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC lessened its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 2.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,380 shares of the semiconductor company’s stock after selling 150 shares during the period. Patton Albertson Miller Group LLC’s holdings in Marvell Technology were worth $532,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Citizens Financial Group Inc. RI grew its holdings in Marvell Technology by 1.5% during the third quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock worth $566,000 after acquiring an additional 116 shares during the period. Crumly & Associates Inc. grew its holdings in Marvell Technology by 1.5% during the third quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock worth $593,000 after acquiring an additional 121 shares during the period. United Capital Management of KS Inc. grew its holdings in Marvell Technology by 0.4% in the third quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock valued at $2,470,000 after purchasing an additional 131 shares during the last quarter. Tlwm grew its holdings in Marvell Technology by 1.6% in the second quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock valued at $601,000 after purchasing an additional 136 shares during the last quarter. Finally, ASB Consultores LLC grew its holdings in Marvell Technology by 3.8% in the third quarter. ASB Consultores LLC now owns 3,824 shares of the semiconductor company’s stock valued at $276,000 after purchasing an additional 140 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Stock Up 1.0 %

NASDAQ MRVL opened at $93.14 on Wednesday. The business’s 50-day moving average price is $81.05 and its 200 day moving average price is $73.76. Marvell Technology, Inc. has a twelve month low of $50.35 and a twelve month high of $95.55. 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 (NASDAQ:MRVL) last released its earnings results 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 positive return on equity of 4.31% and a negative net margin of 18.30%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the business posted $0.18 earnings per share. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. Research analysts expect that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.26%. Marvell Technology’s dividend payout ratio (DPR) is -21.62%.

Insider Transactions at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the transaction, the executive vice president now directly owns 103,244 shares in the company, valued at $9,203,170.16. This trade represents a 5.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value 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 17.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 267,000 shares of company stock worth $20,899,260 in the last three months. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on MRVL. Rosenblatt Securities upped their target price on Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 30th. Morgan Stanley upped their target price on Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, August 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Barclays upped their target price on Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Finally, The Goldman Sachs Group upped their target price on Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a report on Friday, August 30th. Three research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus target price of $93.43.

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.