Apollon Wealth Management LLC Sells 1,216 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Apollon Wealth Management LLC reduced its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 2.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,212 shares of the semiconductor company’s stock after selling 1,216 shares during the period. Apollon Wealth Management LLC’s holdings in Marvell Technology were worth $2,900,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Marvell Technology during the 2nd quarter worth approximately $32,000. Quarry LP purchased a new stake in Marvell Technology during the second quarter valued at $32,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Marvell Technology in the 1st quarter worth $35,000. Whittier Trust Co. increased its holdings in shares of Marvell Technology by 74.5% in the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after buying an additional 210 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in shares of Marvell Technology by 125.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock worth $44,000 after buying an additional 336 shares during the last quarter. 83.51% of the stock is owned by institutional investors.

Insider Buying and Selling at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.77, for a total value of $484,620.00. Following the sale, the executive vice president now directly owns 109,244 shares in the company, valued at approximately $8,823,637.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 109,244 shares of the company’s stock, valued at $8,823,637.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ford Tamer sold 92,000 shares of Marvell Technology stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $74.16, for a total transaction of $6,822,720.00. Following the completion of the transaction, the director now directly owns 351,193 shares in the company, valued at $26,044,472.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 259,500 shares of company stock worth $20,230,710 over the last quarter. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Down 2.9 %

Shares of Marvell Technology stock opened at $90.07 on Thursday. Marvell Technology, Inc. has a 1 year low of $50.35 and a 1 year 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. The stock has a market cap of $79.82 billion, a price-to-earnings ratio of -81.14, a PEG ratio of 4.03 and a beta of 1.44. The firm’s 50-day moving average is $78.04 and its two-hundred day moving average is $72.43.

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

Marvell Technology Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MRVL shares. StockNews.com downgraded shares of Marvell Technology from a “hold” rating to a “sell” rating in a report on Friday, October 18th. Evercore ISI lifted their target price on Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. TD Cowen upgraded Marvell Technology to a “strong-buy” rating in a report on Monday, September 16th. Rosenblatt Securities raised their price target on Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Benchmark boosted their price objective on shares of Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $91.77.

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.