Nicolet Advisory Services LLC Sells 591 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Nicolet Advisory Services LLC trimmed its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 13.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,798 shares of the semiconductor company’s stock after selling 591 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Marvell Technology were worth $274,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Davidson Kempner Capital Management LP increased its holdings in Marvell Technology by 26.5% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock worth $17,482,000 after purchasing an additional 52,365 shares in the last quarter. Braun Stacey Associates Inc. bought a new position in shares of Marvell Technology during the third quarter valued at about $16,435,000. Charles Schwab Investment Management Inc. increased its stake in Marvell Technology by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after buying an additional 66,654 shares during the last quarter. Diversified Trust Co purchased a new position in shares of Marvell Technology in the 2nd quarter worth approximately $932,000. Finally, Silicon Valley Capital Partners increased its position in shares of Marvell Technology by 254.6% during the third quarter. Silicon Valley Capital Partners now owns 32,978 shares of the semiconductor company’s stock valued at $2,378,000 after acquiring an additional 23,678 shares during the last quarter. 83.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MRVL shares. Rosenblatt Securities increased their price target on shares of Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Benchmark increased their target price on shares of Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Roth Mkm reissued a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a research report on Friday, August 30th. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price target on shares of Marvell Technology in a research note on Friday, August 30th. Finally, Loop Capital initiated coverage on shares of Marvell Technology in a research note on Monday, November 11th. They issued a “hold” rating and a $95.00 price objective for the company. Three equities research analysts have rated the stock with 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.com, the company has an average rating of “Moderate Buy” and an average target price of $91.77.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $92.51 on Monday. The company has a fifty day moving average of $80.67 and a 200-day moving average of $73.59. Marvell Technology, Inc. has a 52-week low of $50.35 and a 52-week high of $95.09. 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 company has a market capitalization of $81.98 billion, a P/E ratio of -83.34, a P/E/G ratio of 4.04 and a beta of 1.44.

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

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, October 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.26%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.62%.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $70.83, for a total value of $177,075.00. Following the completion of the transaction, the executive vice president now owns 22,494 shares in the company, valued at approximately $1,593,250.02. This represents a 10.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the completion of the transaction, the executive vice president now owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. The trade was a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 267,000 shares of company stock worth $20,899,260 over the last quarter. 0.33% of the stock is owned by corporate insiders.

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.