Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Tradewinds LLC.

Tradewinds LLC. lessened its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 3.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,580 shares of the semiconductor company’s stock after selling 470 shares during the quarter. Tradewinds LLC.’s holdings in Marvell Technology were worth $836,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Marvell Technology during the fourth quarter worth about $234,000. Dynamic Advisor Solutions LLC lifted its stake in shares of Marvell Technology by 5.0% in the first quarter. Dynamic Advisor Solutions LLC now owns 4,313 shares of the semiconductor company’s stock worth $266,000 after acquiring an additional 206 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Marvell Technology in the fourth quarter worth about $45,211,000. Yousif Capital Management LLC lifted its stake in shares of Marvell Technology by 8.4% in the first quarter. Yousif Capital Management LLC now owns 15,057 shares of the semiconductor company’s stock worth $927,000 after acquiring an additional 1,164 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. acquired a new position in shares of Marvell Technology in the fourth quarter worth about $818,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $75.15 on Friday. Marvell Technology, Inc. has a one year low of $47.09 and a one year high of $127.48. The stock has a fifty day moving average of $66.54 and a 200-day moving average of $81.72. The company has a market capitalization of $64.92 billion, a PE ratio of -131.84, a price-to-earnings-growth ratio of 0.81 and a beta of 1.81. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 1.30.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the firm earned $0.24 EPS. The company’s quarterly revenue was up 63.3% compared to the same quarter last year. As a group, equities analysts anticipate that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, July 11th. This represents a $0.24 annualized dividend and a yield of 0.32%. Marvell Technology’s payout ratio is -42.11%.

Insiders Place Their Bets

In related news, EVP Mark Casper sold 626 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $61.10, for a total transaction of $38,248.60. Following the completion of the sale, the executive vice president owned 626 shares in the company, valued at $38,248.60. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Panteha Dixon sold 1,283 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $68.50, for a total value of $87,885.50. Following the sale, the chief accounting officer owned 29,572 shares of the company’s stock, valued at approximately $2,025,682. The trade was a 4.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,394 shares of company stock worth $1,656,076 in the last 90 days. 0.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. B. Riley reiterated a “buy” rating and issued a $115.00 price target (up previously from $110.00) on shares of Marvell Technology in a research note on Wednesday, June 18th. Piper Sandler reiterated an “overweight” rating and issued a $85.00 price target (down previously from $95.00) on shares of Marvell Technology in a research note on Friday, May 30th. Barclays cut their price target on Marvell Technology from $130.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Loop Capital cut their price target on Marvell Technology from $110.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, May 30th. Finally, UBS Group reissued a “buy” rating on shares of Marvell Technology in a report on Monday, June 2nd. Six research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.33.

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.