Jackson Square Capital LLC Sells 41,679 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Jackson Square Capital LLC trimmed its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 91.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,808 shares of the semiconductor company’s stock after selling 41,679 shares during the period. Jackson Square Capital LLC’s holdings in Marvell Technology were worth $275,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MRVL. Strategic Investment Solutions Inc. IL acquired a new position in shares of Marvell Technology during the second quarter worth approximately $32,000. Quarry LP acquired a new position in Marvell Technology in the second quarter valued at approximately $32,000. Mark Sheptoff Financial Planning LLC acquired a new position in Marvell Technology in the first quarter valued at approximately $35,000. Whittier Trust Co. lifted its holdings in Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 210 shares during the period. Finally, Exchange Traded Concepts LLC lifted its holdings in Marvell Technology by 125.4% in the third quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 336 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $90.63 on Thursday. The stock has a market cap of $80.32 billion, a P/E ratio of -81.65, a P/E/G ratio of 3.67 and a beta of 1.44. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. The company has a fifty day moving average price of $76.04 and a two-hundred day moving average price of $71.49. Marvell Technology, Inc. has a one year low of $50.35 and a one year high of $91.71.

Marvell Technology (NASDAQ:MRVL) last announced 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. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 earnings per share. As a group, equities analysts predict that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend was Friday, October 11th. Marvell Technology’s dividend payout ratio is presently -21.62%.

Insider Transactions at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the firm’s 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 sale, the executive vice president now owns 109,244 shares in the company, valued at approximately $8,823,637.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Chris Koopmans sold 6,000 shares of the firm’s 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 sale, the executive vice president now owns 109,244 shares in the company, valued at approximately $8,823,637.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated 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 owns 113,253 shares of the company’s stock, valued at $7,559,637.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 261,000 shares of company stock worth $20,330,835. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on MRVL. Morgan Stanley increased their price objective on shares of Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, August 30th. Roth Mkm reiterated a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Evercore ISI increased their target price on shares of Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Finally, Benchmark increased their target price on shares of Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.62.

Marvell Technology 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.