Tandem Capital Management Corp ADV Sells 3,819 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Tandem Capital Management Corp ADV lowered its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 9.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,180 shares of the semiconductor company’s stock after selling 3,819 shares during the quarter. Marvell Technology makes up 1.4% of Tandem Capital Management Corp ADV’s portfolio, making the stock its 24th biggest position. Tandem Capital Management Corp ADV’s holdings in Marvell Technology were worth $2,494,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MRVL. Salomon & Ludwin LLC bought a new position in shares of Marvell Technology during the 1st quarter worth approximately $31,000. Strategic Investment Solutions Inc. IL purchased a new stake in Marvell Technology in the second quarter valued at approximately $32,000. Quarry LP purchased a new position in Marvell Technology during the 2nd quarter worth approximately $32,000. Mark Sheptoff Financial Planning LLC acquired a new stake in Marvell Technology during the 1st quarter valued at approximately $35,000. Finally, Whittier Trust Co. boosted its holdings in shares of Marvell Technology by 74.5% in the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 210 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Trading Up 0.5 %

Shares of MRVL traded up $0.39 during midday trading on Friday, hitting $82.32. 213,763 shares of the stock were exchanged, compared to its average volume of 12,237,016. Marvell Technology, Inc. has a 52-week low of $46.07 and a 52-week high of $85.76. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. The stock has a fifty day simple moving average of $73.42 and a 200 day simple moving average of $70.50.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. Marvell Technology’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period last year, the business posted $0.18 EPS. On average, sell-side analysts forecast that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be paid a $0.06 dividend. The ex-dividend date is Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.29%. Marvell Technology’s dividend payout ratio is currently -21.62%.

Insiders Place Their Bets

In other news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Monday, October 21st. The shares were 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 of the company’s stock, valued at approximately $8,823,637.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed 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 company’s stock in a transaction 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 transaction, the chief financial officer now owns 113,253 shares in the company, valued at approximately $7,559,637.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were 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 owns 109,244 shares of the company’s stock, 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 sold 261,000 shares of company stock worth $20,330,835 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. Benchmark upped their price target on Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Citigroup restated a “buy” rating and issued a $91.00 price objective on shares of Marvell Technology in a research report on Monday, October 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $91.62.

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.