Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Balboa Wealth Partners

Balboa Wealth Partners decreased its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 5.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,862 shares of the semiconductor company’s stock after selling 369 shares during the period. Balboa Wealth Partners’ holdings in Marvell Technology were worth $423,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Quarry LP acquired a new position in Marvell Technology during the 2nd quarter valued at about $32,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Marvell Technology during the 2nd quarter valued at about $32,000. Whittier Trust Co. boosted its position in shares of Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 210 shares in the last quarter. Mark Sheptoff Financial Planning LLC bought a new position in shares of Marvell Technology during the 1st quarter valued at about $35,000. Finally, Exchange Traded Concepts LLC boosted its position in shares of Marvell Technology by 125.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 336 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the sale, the executive vice president now owns 109,244 shares in the company, valued at $8,823,637.88. The trade was a 5.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction 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 in the company, valued at $8,255,194.11. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 259,500 shares of company stock worth $20,230,710. Insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

Shares of MRVL opened at $87.83 on Friday. Marvell Technology, Inc. has a twelve month low of $50.35 and a twelve month high of $95.09. The firm has a market cap of $77.83 billion, a PE ratio of -79.13, a PEG ratio of 3.91 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. The firm’s 50 day moving average price is $78.89 and its 200 day moving average price is $72.69.

Marvell Technology (NASDAQ:MRVL) last released 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. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the firm posted $0.18 earnings per share. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. As a group, research analysts expect that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were paid a $0.06 dividend. The ex-dividend date 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%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MRVL shares. Stifel Nicolaus restated a “buy” rating and set a $95.00 price objective (up previously from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. Loop Capital started coverage on shares of Marvell Technology in a report on Monday, November 11th. They issued a “hold” rating and a $95.00 target price for the company. The Goldman Sachs Group raised their target price on shares of Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Citigroup reiterated a “buy” rating and issued a $91.00 target price on shares of Marvell Technology in a report on Monday, October 14th. Finally, StockNews.com cut shares of Marvell Technology from a “hold” rating to a “sell” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.