Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Bay Colony Advisory Group Inc d b a Bay Colony Advisors

Bay Colony Advisory Group Inc d b a Bay Colony Advisors lessened its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 2.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,408 shares of the semiconductor company’s stock after selling 751 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Marvell Technology were worth $2,049,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MRVL. Salomon & Ludwin LLC acquired a new stake in shares of Marvell Technology in the first quarter valued at $31,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Marvell Technology during the second quarter worth about $32,000. Quarry LP purchased a new stake in Marvell Technology in the 2nd quarter valued at approximately $32,000. Mark Sheptoff Financial Planning LLC purchased a new stake in Marvell Technology in the 1st quarter valued at approximately $35,000. Finally, Whittier Trust Co. boosted its stake in shares of Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 210 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated 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 in the company, valued at approximately $8,823,637.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the completion of the transaction, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at $8,823,637.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the completion of the transaction, the insider now directly owns 694,487 shares of the company’s stock, valued at approximately $55,906,203.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 261,000 shares of company stock worth $20,330,835. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MRVL. KeyCorp lifted their price objective on Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 price target on shares of Marvell Technology in a report on Friday, August 30th. The Goldman Sachs Group boosted their price objective on shares of Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Morgan Stanley boosted their price objective on shares of Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, August 30th. Finally, Bank of America boosted their price objective on shares of Marvell Technology from $85.00 to $90.00 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 assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and an average target price of $91.62.

Marvell Technology Stock Up 2.3 %

MRVL stock traded up $1.91 during midday trading on Monday, reaching $83.52. The company had a trading volume of 1,226,315 shares, compared to its average volume of 12,214,634. Marvell Technology, Inc. has a 1 year low of $46.07 and a 1 year high of $85.76. 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 market capitalization of $72.29 billion, a P/E ratio of -72.22, a PEG ratio of 3.62 and a beta of 1.45. The company has a 50 day moving average of $73.67 and a two-hundred day moving average of $70.54.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates 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%. Marvell Technology’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 EPS. On average, equities research analysts expect that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.29%. Marvell Technology’s payout ratio is presently -21.24%.

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.