Capital Investment Advisors LLC decreased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL – Get Rating) by 10.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,196 shares of the semiconductor company’s stock after selling 390 shares during the quarter. Capital Investment Advisors LLC’s holdings in Marvell Technology were worth $280,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. HM Payson & Co. lifted its holdings in Marvell Technology by 52.5% during the 3rd quarter. HM Payson & Co. now owns 453 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 156 shares during the last quarter. TCI Wealth Advisors Inc. grew its stake in shares of Marvell Technology by 106.0% in the third quarter. TCI Wealth Advisors Inc. now owns 484 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 249 shares in the last quarter. Bell Investment Advisors Inc acquired a new position in shares of Marvell Technology in the third quarter valued at about $31,000. Webster Bank N. A. bought a new position in Marvell Technology during the third quarter worth about $33,000. Finally, Financial Management Professionals Inc. acquired a new position in Marvell Technology in the 3rd quarter valued at $36,000. 82.49% of the stock is owned by institutional investors and hedge funds.
In other Marvell Technology news, EVP Loi Nguyen sold 9,778 shares of the business’s stock in a transaction on Wednesday, March 2nd. The stock was sold at an average price of $66.07, for a total value of $646,032.46. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Chris Koopmans sold 25,000 shares of the business’s stock in a transaction on Monday, December 6th. The stock was sold at an average price of $81.90, for a total value of $2,047,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 370,799 shares of company stock worth $30,004,420. 0.29% of the stock is owned by insiders.
NASDAQ MRVL opened at $63.41 on Friday. Marvell Technology, Inc. has a 52 week low of $37.92 and a 52 week high of $93.85. The business has a 50 day moving average price of $74.98 and a 200-day moving average price of $71.45. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.31 and a current ratio of 1.81.
Marvell Technology (NASDAQ:MRVL – Get Rating) last announced its earnings results on Thursday, March 3rd. The semiconductor company reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.02. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Marvell Technology had a positive return on equity of 5.65% and a negative net margin of 9.44%. Marvell Technology’s quarterly revenue was up 68.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.21 earnings per share. Equities research analysts forecast that Marvell Technology, Inc. will post 1.67 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 27th. Investors of record on Friday, April 8th will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, April 7th. This represents a $0.24 annualized dividend and a dividend yield of 0.38%. Marvell Technology’s payout ratio is -44.44%.
Several analysts recently weighed in on the company. Bank of America raised their price objective on Marvell Technology from $80.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, December 3rd. Jefferies Financial Group reissued a “buy” rating and set a $98.00 price target (up from $82.00) on shares of Marvell Technology in a research note on Friday, December 3rd. Cowen raised Marvell Technology from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $66.00 to $100.00 in a research note on Friday, December 3rd. Rosenblatt Securities lifted their price target on Marvell Technology from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Friday. Finally, UBS Group lifted their price target on Marvell Technology from $87.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, December 3rd. Four research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, Marvell Technology currently has a consensus rating of “Buy” and a consensus price target of $96.92.
About Marvell Technology (Get Rating)
Marvell Technology, Inc engages in the provision of data infrastructure semiconductor solutions. It offers computer, networking, storage and custom related solutions. The company was founded in 1995 and is headquartered in Wilmington, DE.
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