GM Advisory Group LLC Trims Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

GM Advisory Group LLC lessened its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 12.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,625 shares of the semiconductor company’s stock after selling 3,632 shares during the period. GM Advisory Group LLC’s holdings in Marvell Technology were worth $1,920,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL purchased a new position in shares of Marvell Technology in the 2nd quarter valued at approximately $32,000. Quarry LP purchased a new position in shares of Marvell Technology during the 2nd quarter valued at approximately $32,000. Whittier Trust Co. grew its stake in Marvell Technology by 74.5% in the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 210 shares during the period. Briaud Financial Planning Inc acquired a new stake in Marvell Technology in the 3rd quarter valued at $43,000. Finally, Exchange Traded Concepts LLC grew its stake in Marvell Technology by 125.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 336 shares during the period. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Trading Up 3.4 %

MRVL stock opened at $92.94 on Friday. The business has a fifty day moving average price of $79.94 and a 200 day moving average price of $73.22. The stock has a market capitalization of $82.36 billion, a price-to-earnings ratio of -83.73, a P/E/G ratio of 3.88 and a beta of 1.44. Marvell Technology, Inc. has a fifty-two week low of $50.35 and a fifty-two week high of $95.09. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26.

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

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend was Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is currently -21.62%.

Analysts Set New Price Targets

MRVL has been the topic of several recent research reports. TD Cowen raised shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, September 16th. Loop Capital assumed coverage on Marvell Technology in a report on Monday, November 11th. They issued a “hold” rating and a $95.00 price target for the company. StockNews.com downgraded Marvell Technology from a “hold” rating to a “sell” rating in a report on Friday, October 18th. The Goldman Sachs Group upped 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. Finally, Morgan Stanley raised their price target on Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.77.

Insiders Place Their Bets

In related news, CEO Matthew J. Murphy purchased 13,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was bought at an average price of $77.63 per share, for a total transaction of $1,009,190.00. Following the purchase, the chief executive officer now directly owns 221,915 shares in the company, valued at approximately $17,227,261.45. This trade represents a 6.22 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00. Following the completion of the transaction, the executive vice president now owns 103,244 shares of the company’s stock, valued at $9,203,170.16. This represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 267,000 shares of company stock worth $20,899,260 over the last three months. 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.