Cambiar Investors LLC Cuts Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Cambiar Investors LLC decreased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 14.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 490,194 shares of the semiconductor company’s stock after selling 83,177 shares during the quarter. Cambiar Investors LLC owned about 0.06% of Marvell Technology worth $35,353,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of MRVL. Salomon & Ludwin LLC purchased a new position in Marvell Technology during the first quarter worth $31,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Marvell Technology during the 2nd quarter worth about $32,000. Quarry LP bought a new position in Marvell Technology during the 2nd quarter valued at about $32,000. Mark Sheptoff Financial Planning LLC purchased a new stake in Marvell Technology in the 1st quarter worth about $35,000. Finally, Whittier Trust Co. lifted its stake in Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 210 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MRVL shares. The Goldman Sachs Group raised their price target on Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Bank of America boosted their target price 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. Barclays raised their price target on shares of Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. TD Cowen upgraded shares of Marvell Technology to a “strong-buy” rating in a report on Monday, September 16th. 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 note on Friday, August 30th. One 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.62.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $84.77 on Friday. Marvell Technology, Inc. has a 12-month low of $48.44 and a 12-month high of $87.28. The business’s fifty day simple moving average is $74.68 and its 200-day simple moving average is $70.88. 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 cap of $75.12 billion, a PE ratio of -76.37, a PEG ratio of 3.60 and a beta of 1.45.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting 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 company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period last year, the business posted $0.18 earnings per share. The firm’s revenue was down 5.1% compared to the same quarter last year. Analysts expect that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.28%. Marvell Technology’s dividend payout ratio is currently -21.62%.

Insiders Place Their Bets

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

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.