Nvwm LLC Sells 22,090 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Nvwm LLC trimmed its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 52.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,687 shares of the semiconductor company's stock after selling 22,090 shares during the period. Nvwm LLC's holdings in Marvell Technology were worth $1,420,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MRVL. Salomon & Ludwin LLC acquired a new stake in shares of Marvell Technology in the 1st quarter worth approximately $31,000. Strategic Investment Solutions Inc. IL acquired a new stake in Marvell Technology in the second quarter worth approximately $32,000. Quarry LP bought a new position in Marvell Technology during the 2nd quarter valued at $32,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Marvell Technology during the 1st quarter valued at $35,000. Finally, Whittier Trust Co. raised its stake 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 in the last quarter. Institutional investors own 83.51% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MRVL shares. StockNews.com cut shares of Marvell Technology from a "hold" rating to a "sell" rating in a research report on Friday, October 18th. Stifel Nicolaus reissued a "buy" rating and set a $95.00 target price (up from $90.00) on shares of Marvell Technology in a research note on Friday, August 30th. Roth Mkm restated a "buy" rating and issued a $95.00 price target on shares of Marvell Technology in a research report on Friday, August 30th. Evercore ISI increased their price objective on Marvell Technology from $91.00 to $98.00 and gave the company an "outperform" rating in a research report on Friday, August 30th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $85.00 target price on shares of Marvell Technology in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $91.62.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology 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 transaction 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Muhammad Raghib Hussain sold 150,000 shares of the firm's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the sale, the insider now owns 694,487 shares of the company's stock, valued at $55,906,203.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology 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 transaction, the executive vice president now directly owns 109,244 shares in the company, valued at approximately $8,823,637.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 261,000 shares of company stock worth $20,330,835. Company insiders own 0.33% of the company's stock.

Marvell Technology Stock Performance

Shares of MRVL stock traded up $4.66 during trading hours on Friday, reaching $84.77. 20,330,467 shares of the company's stock were exchanged, compared to its average volume of 9,969,209. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. Marvell Technology, Inc. has a fifty-two week low of $48.44 and a fifty-two week high of $87.28. The business has a fifty day moving average price of $74.94 and a 200-day moving average price of $71.02. The stock has a market capitalization of $75.12 billion, a P/E ratio of -76.37, a P/E/G ratio of 3.48 and a beta of 1.44.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting 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 firm had revenue of $1.27 billion during the quarter, compared to analysts' expectations of $1.25 billion. During the same quarter last year, the company earned $0.18 earnings per share. The company's revenue for the quarter was down 5.1% compared to the same quarter last year. Analysts predict that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders 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 yield of 0.28%. Marvell Technology's dividend payout ratio is currently -21.62%.

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.