Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by STF Management LP

STF Management LP cut its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 4.6% during the second quarter, HoldingsChannel reports. The firm owned 13,780 shares of the semiconductor company’s stock after selling 657 shares during the period. STF Management LP’s holdings in Marvell Technology were worth $963,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Diversified Trust Co acquired a new position in shares of Marvell Technology during the second quarter worth about $932,000. Orion Portfolio Solutions LLC increased its stake in shares of Marvell Technology by 47.1% during the first quarter. Orion Portfolio Solutions LLC now owns 32,191 shares of the semiconductor company’s stock worth $2,282,000 after acquiring an additional 10,306 shares during the period. Hoylecohen LLC acquired a new position in shares of Marvell Technology during the fourth quarter worth about $658,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Marvell Technology by 20.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 529,127 shares of the semiconductor company’s stock worth $37,505,000 after acquiring an additional 88,918 shares during the period. Finally, Westwood Holdings Group Inc. acquired a new position in shares of Marvell Technology during the first quarter worth about $6,985,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $66.75, for a total transaction of $100,125.00. Following the transaction, the chief financial officer now owns 113,253 shares of the company’s stock, valued at $7,559,637.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Marvell Technology news, insider Muhammad Raghib Hussain sold 50,000 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the transaction, the insider now owns 838,571 shares of the company’s stock, valued at $62,892,825. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Thursday, August 15th. The stock was 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 approximately $7,559,637.75. The disclosure for this sale can be found here. Insiders have sold a total of 60,500 shares of company stock valued at $4,505,520 over the last quarter. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Benchmark boosted their price target on shares of Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. KeyCorp upped their target price on shares of Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Bank of America upped their target price 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. Barclays upped their target price on shares of Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Finally, Evercore ISI upped their target price 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 investment analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.62.

Marvell Technology Stock Performance

Shares of MRVL opened at $74.48 on Monday. 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 company has a market capitalization of $66.00 billion, a price-to-earnings ratio of -65.91, a PEG ratio of 3.29 and a beta of 1.46. The company’s 50 day simple moving average is $68.26 and its 200 day simple moving average is $69.79. Marvell Technology, Inc. has a 1 year low of $46.07 and a 1 year high of $85.76.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 earnings per share. On average, sell-side analysts predict that Marvell Technology, Inc. will post 0.77 EPS for the current year.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend was Friday, July 12th. Marvell Technology’s dividend payout ratio is currently -21.24%.

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.