Trueblood Wealth Management LLC Sells 276 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Trueblood Wealth Management LLC cut its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 5.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,668 shares of the semiconductor company’s stock after selling 276 shares during the period. Trueblood Wealth Management LLC’s holdings in Marvell Technology were worth $337,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MRVL. Salomon & Ludwin LLC bought a new position in shares of Marvell Technology during the 1st quarter valued at approximately $31,000. Strategic Investment Solutions Inc. IL purchased a new stake in Marvell Technology during the second quarter valued at $32,000. Quarry LP bought a new position in Marvell Technology during the second quarter valued at $32,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Marvell Technology in the 1st quarter worth $35,000. Finally, Whittier Trust Co. increased 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 worth $35,000 after buying an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. KeyCorp increased their price target on shares of Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Citigroup reiterated a “buy” rating and issued a $91.00 target price on shares of Marvell Technology in a report on Monday, October 14th. TD Cowen upgraded Marvell Technology to a “strong-buy” rating in a report on Monday, September 16th. Roth Mkm reaffirmed a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. Finally, Benchmark increased their target price on shares of Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $91.62.

Marvell Technology Stock Down 0.4 %

NASDAQ:MRVL opened at $81.61 on Friday. The firm has a market capitalization of $72.32 billion, a P/E ratio of -73.52, a PEG ratio of 3.62 and a beta of 1.45. The company’s fifty day moving average price is $73.67 and its 200-day moving average price is $70.57. Marvell Technology, Inc. has a 1-year low of $46.07 and a 1-year high of $85.76. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period last year, the firm earned $0.18 EPS. As a group, equities research analysts anticipate that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be given a $0.06 dividend. The ex-dividend date is Friday, October 11th. This represents a $0.24 annualized dividend and a yield of 0.29%. Marvell Technology’s dividend payout ratio is presently -21.62%.

Insider Activity

In related news, EVP Chris Koopmans sold 6,000 shares of the 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 sale, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at approximately $8,823,637.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the completion of the transaction, the executive vice president now owns 109,244 shares in the company, valued at $8,823,637.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the 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 transaction, the chief financial officer now owns 113,253 shares in the company, valued at $7,559,637.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 261,000 shares of company stock valued at $20,330,835 in the last three months. 0.33% of the stock is currently owned by corporate insiders.

About Marvell Technology

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.