MeadowBrook Investment Advisors LLC Decreases Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

MeadowBrook Investment Advisors LLC lessened its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 0.9% during the third quarter, HoldingsChannel.com reports. The fund owned 14,940 shares of the semiconductor company’s stock after selling 140 shares during the quarter. Marvell Technology makes up about 1.0% of MeadowBrook Investment Advisors LLC’s portfolio, making the stock its 27th biggest holding. MeadowBrook Investment Advisors LLC’s holdings in Marvell Technology were worth $1,077,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Marvell Technology during the second quarter valued at approximately $32,000. Quarry LP purchased a new stake in Marvell Technology during the 2nd quarter worth $32,000. Mark Sheptoff Financial Planning LLC acquired a new position in Marvell Technology in the 1st quarter worth $35,000. Whittier Trust Co. lifted its holdings in 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. Finally, Exchange Traded Concepts LLC boosted its position in Marvell Technology by 125.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 336 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Stock Performance

Shares of Marvell Technology stock traded up $1.13 during trading on Thursday, hitting $91.20. 1,128,181 shares of the stock were exchanged, compared to its average volume of 12,119,780. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. Marvell Technology, Inc. has a 12 month low of $50.35 and a 12 month high of $95.09. The stock’s fifty day moving average is $78.04 and its 200 day moving average is $72.43. The stock has a market cap of $80.82 billion, a PE ratio of -81.14, a P/E/G ratio of 4.03 and a beta of 1.44.

Marvell Technology (NASDAQ:MRVL) last posted its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The firm 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%. Marvell Technology’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 EPS. As a group, sell-side analysts anticipate that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Dividend Announcement

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

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

MRVL has been the topic of several analyst reports. Benchmark lifted their price objective on Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Barclays upped their price target on shares of Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Rosenblatt Securities raised 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. Morgan Stanley boosted 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, The Goldman Sachs Group increased their price target on shares of Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.77.

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.