Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Howe & Rusling Inc.

Howe & Rusling Inc. reduced its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 4.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,935 shares of the semiconductor company’s stock after selling 146 shares during the period. Howe & Rusling Inc.’s holdings in Marvell Technology were worth $212,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Crumly & Associates Inc. lifted its position in Marvell Technology by 1.5% during the 3rd quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock worth $593,000 after acquiring an additional 121 shares in the last quarter. United Capital Management of KS Inc. raised its stake in shares of Marvell Technology by 0.4% during the third quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock valued at $2,470,000 after purchasing an additional 131 shares during the period. Tlwm lifted its position in shares of Marvell Technology by 1.6% during the second quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock worth $601,000 after purchasing an additional 136 shares in the last quarter. ASB Consultores LLC boosted its stake in shares of Marvell Technology by 3.8% in the third quarter. ASB Consultores LLC now owns 3,824 shares of the semiconductor company’s stock valued at $276,000 after purchasing an additional 140 shares during the period. Finally, Bridges Investment Management Inc. grew its holdings in Marvell Technology by 4.1% during the 3rd quarter. Bridges Investment Management Inc. now owns 3,806 shares of the semiconductor company’s stock valued at $274,000 after purchasing an additional 151 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $73.87, for a total transaction of $110,805.00. Following the sale, the chief financial officer now owns 111,753 shares of the company’s stock, valued at $8,255,194.11. The trade was a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $12,075,000.00. Following the transaction, the insider now directly owns 694,487 shares of the company’s stock, valued at approximately $55,906,203.50. The trade was a 17.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 267,000 shares of company stock worth $20,899,260 over the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. Barclays increased their price target on Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Rosenblatt Securities lifted their price objective on Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Morgan Stanley increased their target price on 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, TD Cowen upgraded shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.77.

Marvell Technology Stock Performance

Shares of MRVL opened at $89.86 on Thursday. The firm has a fifty day moving average of $79.94 and a 200-day moving average of $73.22. The company has a market cap of $79.63 billion, a price-to-earnings ratio of -80.95, a price-to-earnings-growth ratio of 3.82 and a beta of 1.44. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. Marvell Technology, Inc. has a 1 year low of $50.35 and a 1 year high of $95.09.

Marvell Technology (NASDAQ:MRVL) last posted its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the business posted $0.18 EPS. Marvell Technology’s revenue was down 5.1% on a year-over-year basis. As a group, equities analysts anticipate that Marvell Technology, Inc. will post 0.78 earnings per share for the current year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend was Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is -21.62%.

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.