Tradition Wealth Management LLC Has $373,000 Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Tradition Wealth Management LLC trimmed its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 5.8% in the third quarter, HoldingsChannel.com reports. The firm owned 5,167 shares of the semiconductor company’s stock after selling 321 shares during the period. Tradition Wealth Management LLC’s holdings in Marvell Technology were worth $373,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of Marvell Technology in the 2nd quarter valued at about $32,000. Quarry LP bought a new stake in Marvell Technology in the second quarter valued at approximately $32,000. Whittier Trust Co. raised its holdings in Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 210 shares during the last quarter. Briaud Financial Planning Inc acquired a new position in shares of Marvell Technology in the 3rd quarter worth approximately $43,000. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Marvell Technology by 125.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 336 shares during the last quarter. 83.51% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Willem A. Meintjes sold 1,500 shares of the business’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 $133,710.00. Following the sale, the chief financial officer now directly owns 114,211 shares in the company, valued at approximately $10,180,768.54. The trade was a 1.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the 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 transaction, the insider now owns 694,487 shares of the company’s stock, valued at $55,906,203.50. This represents a 17.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 267,000 shares of company stock worth $20,899,260. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MRVL. Benchmark boosted their target price on shares of Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a report on Friday, August 30th. Morgan Stanley raised their target price on Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, August 30th. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd. The Goldman Sachs Group lifted their price objective on shares of Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Susquehanna increased their target price on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a “positive” rating in a research note on Wednesday, November 27th. Three investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.39.

Marvell Technology Price Performance

Marvell Technology stock opened at $92.69 on Monday. Marvell Technology, Inc. has a 52 week low of $50.35 and a 52 week high of $95.55. The company’s 50 day moving average price is $82.50 and its two-hundred day moving average price is $74.37. The stock has a market cap of $82.14 billion, a P/E ratio of -83.50, a P/E/G 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 posted 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 positive return on equity of 4.31% and a negative net margin of 18.30%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The business’s revenue was down 5.1% on a year-over-year basis. On average, equities analysts predict that Marvell Technology, Inc. will post 0.78 earnings per share for the current year.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were given 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 yield of 0.26%. Marvell Technology’s payout ratio is currently -21.62%.

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.