Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Cable Hill Partners LLC

Cable Hill Partners LLC cut its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 9.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,550 shares of the semiconductor company’s stock after selling 558 shares during the quarter. Cable Hill Partners LLC’s holdings in Marvell Technology were worth $400,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Davidson Kempner Capital Management LP increased its position in shares of Marvell Technology by 26.5% in the second quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock valued at $17,482,000 after buying an additional 52,365 shares in the last quarter. Diversified Trust Co acquired a new position in Marvell Technology during the second quarter worth about $932,000. Orion Portfolio Solutions LLC lifted its holdings in shares of Marvell Technology by 47.1% in the first quarter. Orion Portfolio Solutions LLC now owns 32,191 shares of the semiconductor company’s stock valued at $2,282,000 after purchasing an additional 10,306 shares in the last quarter. WD Rutherford LLC grew its position in shares of Marvell Technology by 182.5% in the third quarter. WD Rutherford LLC now owns 18,266 shares of the semiconductor company’s stock valued at $1,317,000 after purchasing an additional 11,801 shares during the last quarter. Finally, Silicon Valley Capital Partners increased its stake in shares of Marvell Technology by 254.6% during the 3rd quarter. Silicon Valley Capital Partners now owns 32,978 shares of the semiconductor company’s stock worth $2,378,000 after purchasing an additional 23,678 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Performance

Shares of NASDAQ:MRVL opened at $90.07 on Thursday. The business has a 50-day moving average of $78.04 and a two-hundred day moving average of $72.43. The firm has a market capitalization of $79.82 billion, a PE ratio of -81.14, a P/E/G ratio of 4.03 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. Marvell Technology, Inc. has a 12 month low of $50.35 and a 12 month 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, hitting analysts’ consensus estimates of $0.30. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate 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 was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 EPS. As a group, research analysts forecast that Marvell Technology, Inc. will post 0.78 earnings per share for the current year.

Marvell Technology Announces Dividend

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

Insider Buying and Selling

In other news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $80.77, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $80.77, for a total value of $484,620.00. Following the completion of the transaction, the executive vice president now directly owns 109,244 shares in the company, valued at approximately $8,823,637.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the sale, the insider now directly owns 694,487 shares of the company’s stock, valued at approximately $55,906,203.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 259,500 shares of company stock valued at $20,230,710. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MRVL shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $95.00 target price (up previously from $90.00) on shares of Marvell Technology in a research note on Friday, August 30th. Loop Capital began coverage on Marvell Technology in a research note on Monday. They set a “hold” rating and a $95.00 price objective on the stock. TD Cowen raised shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, September 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a research note on Friday, August 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 price target on shares of Marvell Technology in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and a consensus target price of $91.77.

About Marvell Technology

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.