Element Capital Management LLC Cuts Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Element Capital Management LLC trimmed its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 8.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,033 shares of the semiconductor company’s stock after selling 1,274 shares during the period. Element Capital Management LLC’s holdings in Marvell Technology were worth $981,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Avantax Advisory Services Inc. boosted its holdings in Marvell Technology by 29.0% in the 4th quarter. Avantax Advisory Services Inc. now owns 31,550 shares of the semiconductor company’s stock worth $1,903,000 after buying an additional 7,101 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Marvell Technology by 27.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 42,090 shares of the semiconductor company’s stock worth $2,539,000 after acquiring an additional 8,938 shares during the last quarter. Level Four Advisory Services LLC increased its position in shares of Marvell Technology by 15.7% during the fourth quarter. Level Four Advisory Services LLC now owns 8,219 shares of the semiconductor company’s stock worth $496,000 after purchasing an additional 1,116 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Marvell Technology by 8.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 95,589 shares of the semiconductor company’s stock valued at $5,765,000 after purchasing an additional 7,627 shares during the last quarter. Finally, Independent Advisor Alliance lifted its holdings in Marvell Technology by 18.3% in the 4th quarter. Independent Advisor Alliance now owns 12,890 shares of the semiconductor company’s stock valued at $777,000 after purchasing an additional 1,995 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MRVL shares. The Goldman Sachs Group increased their target price on shares of Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, August 30th. B. Riley boosted their price objective on Marvell Technology from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 31st. Piper Sandler reissued an “overweight” rating and issued a $100.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. KeyCorp boosted their target price on Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Finally, StockNews.com lowered Marvell Technology from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus price target of $91.62.

Marvell Technology Trading Up 0.2 %

Shares of MRVL stock opened at $74.48 on Friday. The company has a market cap of $66.00 billion, a PE ratio of -65.91, a price-to-earnings-growth ratio of 3.29 and a beta of 1.46. Marvell Technology, Inc. has a 12 month low of $46.07 and a 12 month high of $85.76. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The business’s 50 day moving average is $68.26 and its two-hundred day moving average is $69.77.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the prior year, the firm posted $0.18 EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. Equities analysts predict that Marvell Technology, Inc. will post 0.77 EPS for the current year.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 12th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.32%. The ex-dividend date was Friday, July 12th. Marvell Technology’s dividend payout ratio is currently -21.24%.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $66.75, for a total value of $100,125.00. Following the completion of the sale, the chief financial officer now owns 113,253 shares of the company’s stock, valued at $7,559,637.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $66.75, for a total transaction of $100,125.00. Following the completion of the transaction, the chief financial officer now directly owns 113,253 shares in the company, valued at approximately $7,559,637.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Chris Koopmans sold 5,000 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $73.42, for a total transaction of $367,100.00. Following the completion of the sale, the executive vice president now owns 115,318 shares of the company’s stock, valued at approximately $8,466,647.56. The disclosure for this sale can be found here. Insiders have sold 65,500 shares of company stock valued at $4,872,620 in the last three months. 0.33% of the stock is owned by corporate insiders.

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.