Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Howe & Rusling Inc.

Howe & Rusling Inc. trimmed its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,935 shares of the semiconductor company’s stock after selling 146 shares during the period. Howe & Rusling Inc.’s holdings in Marvell Technology were worth $212,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MRVL. Janus Henderson Group PLC raised its holdings in Marvell Technology by 13.4% during the 1st quarter. Janus Henderson Group PLC now owns 13,478,472 shares of the semiconductor company’s stock worth $955,400,000 after buying an additional 1,591,874 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Marvell Technology by 24.1% during the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after acquiring an additional 2,254,610 shares during the period. Van ECK Associates Corp lifted its position in shares of Marvell Technology by 26.6% in the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after acquiring an additional 1,570,050 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Marvell Technology by 3.0% in the 2nd quarter. Clearbridge Investments LLC now owns 5,189,682 shares of the semiconductor company’s stock worth $362,759,000 after purchasing an additional 150,109 shares during the period. Finally, Lazard Asset Management LLC grew its position in Marvell Technology by 47,934.4% during the 1st quarter. Lazard Asset Management LLC now owns 4,001,745 shares of the semiconductor company’s stock worth $283,643,000 after purchasing an additional 3,993,414 shares in the last quarter. Institutional investors and hedge funds 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 the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the transaction, the chief financial officer now directly owns 114,211 shares in the company, valued at $10,180,768.54. The trade was a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $70.83, for a total value of $177,075.00. Following the completion of the sale, the executive vice president now owns 22,494 shares of the company’s stock, valued at $1,593,250.02. This represents a 10.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 267,000 shares of company stock worth $20,899,260 in the last ninety days. 0.33% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MRVL has been the subject of several recent analyst reports. Morgan Stanley raised their target price on Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. Rosenblatt Securities lifted their target price on Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Bank of America increased 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. Citigroup restated a “buy” rating and set a $91.00 price target on shares of Marvell Technology in a report on Monday, October 14th. Finally, TD Cowen upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and a consensus price target of $91.77.

Marvell Technology Price Performance

NASDAQ MRVL opened at $89.86 on Thursday. The company has a market cap of $79.63 billion, a P/E ratio of -80.95, a P/E/G ratio of 3.82 and a beta of 1.44. Marvell Technology, Inc. has a 1 year low of $50.35 and a 1 year high of $95.09. 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 company has a fifty day simple moving average of $79.94 and a 200 day simple moving average of $73.22.

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

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is currently -21.62%.

Marvell Technology Company 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.