Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Bank of Hawaii

Bank of Hawaii trimmed its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 77.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,049 shares of the semiconductor company's stock after selling 23,819 shares during the period. Bank of Hawaii's holdings in Marvell Technology were worth $508,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its holdings in shares of Marvell Technology by 24.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company's stock worth $812,509,000 after acquiring an additional 2,254,610 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Marvell Technology by 26.6% during the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company's stock worth $538,868,000 after acquiring an additional 1,570,050 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Marvell Technology by 3.0% during the 2nd quarter. Clearbridge Investments LLC now owns 5,189,682 shares of the semiconductor company's stock worth $362,759,000 after acquiring an additional 150,109 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Marvell Technology by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,844,719 shares of the semiconductor company's stock worth $268,711,000 after acquiring an additional 25,983 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Marvell Technology by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company's stock worth $235,247,000 after acquiring an additional 66,654 shares during the last quarter. 83.51% of the stock is owned by institutional investors.

Marvell Technology Trading Up 1.0 %

Shares of MRVL stock traded up $0.90 during trading hours on Tuesday, reaching $93.14. 9,014,234 shares of the stock were exchanged, compared to its average volume of 12,014,643. The firm has a market capitalization of $82.54 billion, a price-to-earnings ratio of -83.10, a price-to-earnings-growth ratio of 4.02 and a beta of 1.44. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. Marvell Technology, Inc. has a 12-month low of $50.35 and a 12-month high of $95.55. The company's 50-day moving average price is $81.05 and its 200-day moving average price is $73.76.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released 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 during the quarter, compared to analysts' expectations of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The firm's quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 EPS. As a group, equities analysts anticipate that Marvell Technology, Inc. will post 0.78 earnings per share for the current year.

Marvell Technology Announces Dividend

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

Analysts Set New Price Targets

MRVL has been the subject of a number of research analyst reports. Rosenblatt Securities lifted their price objective on shares of Marvell Technology from $100.00 to $120.00 and gave the stock a "buy" rating in a report on Friday, August 30th. StockNews.com raised shares of Marvell Technology from a "sell" rating to a "hold" rating in a report on Friday. Bank of America lifted their target price on shares of Marvell Technology from $85.00 to $90.00 and gave the stock a "buy" rating in a research report on Friday, August 30th. Morgan Stanley lifted their target price on shares of Marvell Technology from $77.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Friday, August 30th. Finally, Wells Fargo & Company lifted their target price on shares of Marvell Technology from $90.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Marvell Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.43.

Insider Activity

In related news, CFO Willem A. Meintjes sold 1,500 shares of the business's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $73.87, for a total transaction of $110,805.00. Following the completion of the transaction, the chief financial officer now owns 111,753 shares in the company, valued at $8,255,194.11. The trade was a 1.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ford Tamer sold 92,000 shares of the business's stock in a transaction that occurred 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 transaction, the director now owns 351,193 shares of the company's stock, valued at approximately $26,044,472.88. This trade represents a 20.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 267,000 shares of company stock worth $20,899,260. 0.33% of the stock is currently 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.