D.A. Davidson & CO. lowered its position in Marvell Technology, Inc. (NASDAQ:MRVL – Get Rating) by 5.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,764 shares of the semiconductor company’s stock after selling 972 shares during the period. D.A. Davidson & CO.’s holdings in Marvell Technology were worth $658,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Lido Advisors LLC lifted its position in Marvell Technology by 1.6% in the third quarter. Lido Advisors LLC now owns 15,599 shares of the semiconductor company’s stock valued at $669,000 after purchasing an additional 251 shares during the period. Allworth Financial LP lifted its position in Marvell Technology by 10.3% in the fourth quarter. Allworth Financial LP now owns 2,787 shares of the semiconductor company’s stock valued at $103,000 after purchasing an additional 260 shares during the period. SWS Partners lifted its position in Marvell Technology by 0.7% in the third quarter. SWS Partners now owns 38,064 shares of the semiconductor company’s stock valued at $1,633,000 after purchasing an additional 279 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its position in Marvell Technology by 0.9% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 30,266 shares of the semiconductor company’s stock valued at $1,299,000 after purchasing an additional 284 shares during the period. Finally, First Horizon Advisors Inc. lifted its position in Marvell Technology by 24.3% in the third quarter. First Horizon Advisors Inc. now owns 1,481 shares of the semiconductor company’s stock valued at $63,000 after purchasing an additional 290 shares during the period. Institutional investors and hedge funds own 81.28% of the company’s stock.
Insider Activity at Marvell Technology
In related news, EVP Dan Christman sold 6,778 shares of Marvell Technology stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $46.05, for a total transaction of $312,126.90. Following the transaction, the executive vice president now owns 85,425 shares in the company, valued at approximately $3,933,821.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Marvell Technology news, EVP Dean E. Jr. Jarnac sold 6,000 shares of the business’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $45.00, for a total value of $270,000.00. Following the transaction, the executive vice president now owns 18,879 shares in the company, valued at approximately $849,555. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dan Christman sold 6,778 shares of the business’s stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $46.05, for a total transaction of $312,126.90. Following the completion of the transaction, the executive vice president now owns 85,425 shares in the company, valued at approximately $3,933,821.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,978 shares of company stock worth $2,532,691. 0.45% of the stock is currently owned by corporate insiders.
Marvell Technology Stock Up 2.2 %
Marvell Technology (NASDAQ:MRVL – Get Rating) last announced its quarterly earnings results on Thursday, March 2nd. The semiconductor company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.41 billion. Marvell Technology had a negative net margin of 2.76% and a positive return on equity of 8.46%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.35 EPS. Analysts forecast that Marvell Technology, Inc. will post 0.86 earnings per share for the current year.
Marvell Technology Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 26th. Investors of record on Friday, April 7th were issued a dividend of $0.06 per share. The ex-dividend date was Wednesday, April 5th. This represents a $0.24 annualized dividend and a dividend yield of 0.61%. Marvell Technology’s payout ratio is -126.32%.
Analyst Ratings Changes
A number of equities research analysts recently commented on the stock. Citigroup reduced their price objective on shares of Marvell Technology from $65.00 to $58.00 in a research report on Friday, March 3rd. Morgan Stanley increased their target price on shares of Marvell Technology from $41.00 to $45.00 in a report on Friday, March 3rd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Marvell Technology from $55.00 to $50.00 and set a “buy” rating for the company in a report on Friday, March 3rd. UBS Group dropped their target price on shares of Marvell Technology from $75.00 to $60.00 in a report on Friday, March 3rd. Finally, Stifel Nicolaus dropped their target price on shares of Marvell Technology from $58.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, April 19th. Three investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $58.00.
Marvell Technology Company Profile
Marvell Technology, Inc engages in the provision of data infrastructure semiconductor solutions. It offers compute, networking, storage, and custom solutions. The firm designs, develops, and sells integrated circuits. The company was founded by Wei Li Dai, Pantas Sutardja, and Sehat Sutardja in 1995 and is headquartered in Wilmington, DE.
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