Cyndeo Wealth Partners LLC Grows Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Cyndeo Wealth Partners LLC raised its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 15.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,934 shares of the semiconductor company’s stock after purchasing an additional 519 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Marvell Technology were worth $284,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Salomon & Ludwin LLC purchased a new position in shares of Marvell Technology during the 1st quarter valued at $31,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Marvell Technology in the second quarter valued at about $32,000. Quarry LP bought a new position in shares of Marvell Technology in the second quarter worth about $32,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Marvell Technology during the first quarter worth about $35,000. Finally, Exchange Traded Concepts LLC raised its stake in Marvell Technology by 125.4% during 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 period. 83.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Marvell Technology

In other news, CEO Matthew J. Murphy sold 6,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 208,915 shares of the company’s stock, valued at approximately $15,311,380.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $66.75, for a total value of $100,125.00. Following the completion of the sale, the chief financial officer now owns 113,253 shares in the company, valued at approximately $7,559,637.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $73.29, for a total value of $439,740.00. Following the completion of the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders have sold 255,000 shares of company stock valued at $19,846,215 in the last quarter. 0.33% of the stock is owned by insiders.

Marvell Technology Trading Up 2.5 %

Shares of MRVL opened at $81.83 on Tuesday. The company’s fifty day simple moving average is $72.42 and its 200-day simple moving average is $70.26. The company has a market cap of $70.83 billion, a P/E ratio of -72.42, a P/E/G ratio of 3.17 and a beta of 1.45. 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, Inc. has a twelve month low of $46.07 and a twelve month high of $85.76.

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 analysts’ consensus estimates of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the company posted $0.18 EPS. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, analysts expect 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 will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend is Friday, October 11th. Marvell Technology’s payout ratio is currently -21.24%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. The Goldman Sachs Group upped their price target on Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. KeyCorp raised their target price on shares of Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Morgan Stanley boosted their price target on shares of Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, August 30th. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. Finally, Bank of America boosted their target price on Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average 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.