Integrated Advisors Network LLC Cuts Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Integrated Advisors Network LLC decreased its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 76.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 4,059 shares of the semiconductor company’s stock after selling 13,459 shares during the period. Integrated Advisors Network LLC’s holdings in Marvell Technology were worth $293,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Norden Group LLC purchased a new stake in shares of Marvell Technology during the first quarter valued at approximately $2,374,000. Kovack Advisors Inc. raised its stake in shares of Marvell Technology by 4.8% during the first quarter. Kovack Advisors Inc. now owns 4,222 shares of the semiconductor company’s stock valued at $299,000 after purchasing an additional 192 shares during the period. First Trust Direct Indexing L.P. raised its stake in shares of Marvell Technology by 28.8% during the first quarter. First Trust Direct Indexing L.P. now owns 9,108 shares of the semiconductor company’s stock valued at $646,000 after purchasing an additional 2,034 shares during the period. J.W. Cole Advisors Inc. purchased a new stake in shares of Marvell Technology during the first quarter valued at approximately $613,000. Finally, Diversify Advisory Services LLC purchased a new stake in shares of Marvell Technology during the first quarter valued at approximately $537,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $66.75, for a total transaction of $100,125.00. Following the sale, the chief financial officer now directly owns 113,253 shares in the company, valued at $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 available through the SEC website. In other Marvell Technology news, insider Muhammad Raghib Hussain sold 150,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $12,075,000.00. Following the sale, the insider now directly owns 694,487 shares in the company, valued at approximately $55,906,203.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 113,253 shares of the company’s stock, valued at $7,559,637.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 261,000 shares of company stock worth $20,330,835 over the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Marvell Technology Stock Performance

Shares of MRVL opened at $84.77 on Friday. Marvell Technology, Inc. has a 1 year low of $48.44 and a 1 year high of $87.28. The company has a market cap of $75.12 billion, a price-to-earnings ratio of -76.37, a price-to-earnings-growth ratio of 3.60 and a beta of 1.45. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. The firm has a fifty day moving average of $74.68 and a 200-day moving average of $70.88.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, equities analysts anticipate that Marvell Technology, Inc. will post 0.78 earnings per share for the current year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date was Friday, October 11th. Marvell Technology’s dividend payout ratio is currently -21.62%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Citigroup reiterated a “buy” rating and set a $91.00 price objective on shares of Marvell Technology in a research note on Monday, October 14th. Bank of America raised their price target on shares of Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. StockNews.com downgraded shares of Marvell Technology from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. Roth Mkm reissued a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a research report on Friday, August 30th. Finally, Evercore ISI raised their price target on shares of Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.