Intrepid Financial Planning Group LLC Sells 1,000 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Intrepid Financial Planning Group LLC lowered its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 3.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 25,800 shares of the semiconductor company’s stock after selling 1,000 shares during the quarter. Intrepid Financial Planning Group LLC’s holdings in Marvell Technology were worth $1,861,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MRVL. Platform Technology Partners bought a new stake in Marvell Technology in the 3rd quarter valued at about $202,000. Sumitomo Mitsui Trust Group Inc. grew its stake in Marvell Technology by 1.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,047,572 shares of the semiconductor company’s stock valued at $147,671,000 after acquiring an additional 25,806 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Marvell Technology by 14.1% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 29,078 shares of the semiconductor company’s stock valued at $2,097,000 after acquiring an additional 3,597 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its position in shares of Marvell Technology by 41.6% during the third quarter. Nations Financial Group Inc. IA ADV now owns 7,992 shares of the semiconductor company’s stock worth $576,000 after purchasing an additional 2,348 shares during the period. Finally, United Capital Management of KS Inc. lifted its holdings in shares of Marvell Technology by 0.4% in the 3rd quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock worth $2,470,000 after purchasing an additional 131 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In other Marvell Technology news, insider Muhammad Raghib Hussain sold 150,000 shares of Marvell Technology 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 completion of the transaction, the insider now owns 694,487 shares of the company’s stock, valued at $55,906,203.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Willem A. Meintjes sold 1,500 shares of the company’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 transaction, the chief financial officer now directly owns 113,253 shares in the company, valued at approximately $7,559,637.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 694,487 shares of the company’s stock, valued at approximately $55,906,203.50. This represents 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. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. TD Cowen upgraded shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, September 16th. Benchmark raised their price target 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. Bank of America boosted their price objective on Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. Finally, Morgan Stanley increased their price target on Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and a consensus target price of $91.77.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $92.25 on Tuesday. The company has a market capitalization of $81.75 billion, a P/E ratio of -83.11, a P/E/G ratio of 4.08 and a beta of 1.44. The business has a fifty day simple moving average of $77.20 and a two-hundred day simple moving average of $72.14. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. Marvell Technology, Inc. has a 1 year low of $50.35 and a 1 year high of $95.09.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data 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 negative net margin of 18.30% and a positive return on equity of 4.31%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the firm earned $0.18 earnings per share. The company’s revenue was down 5.1% compared to the same quarter last year. On average, analysts expect that Marvell Technology, Inc. will post 0.78 earnings per share for the current year.

Marvell Technology Announces Dividend

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

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.