J.W. Cole Advisors Inc. Sells 2,124 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

J.W. Cole Advisors Inc. trimmed its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 24.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,529 shares of the semiconductor company’s stock after selling 2,124 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Marvell Technology were worth $456,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bruce G. Allen Investments LLC lifted its position in shares of Marvell Technology by 56.4% during the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 141 shares in the last quarter. Salomon & Ludwin LLC acquired a new position in Marvell Technology during the 1st quarter worth $31,000. Optimum Investment Advisors bought a new position in Marvell Technology in the 1st quarter valued at $35,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Marvell Technology in the 1st quarter valued at $35,000. Finally, Bogart Wealth LLC raised its position in shares of Marvell Technology by 1,480.0% during the first quarter. Bogart Wealth LLC now owns 632 shares of the semiconductor company’s stock worth $45,000 after acquiring an additional 592 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity

In related news, CEO Matthew J. Murphy sold 6,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $73.29, for a total transaction of $439,740.00. Following the sale, the chief executive officer now owns 208,915 shares in the company, valued at $15,311,380.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Marvell Technology news, Director Daniel Durn purchased 1,425 shares of Marvell Technology stock in a transaction that occurred on Monday, June 24th. The stock was acquired at an average price of $70.21 per share, for a total transaction of $100,049.25. Following the completion of the acquisition, the director now owns 1,923 shares of the company’s stock, valued at approximately $135,013.83. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew J. Murphy sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $73.29, for a total value of $439,740.00. Following the completion of the sale, the chief executive officer now owns 208,915 shares in the company, valued at approximately $15,311,380.35. The disclosure for this sale can be found here. Insiders sold 160,000 shares of company stock worth $11,878,785 in the last quarter. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

MRVL stock opened at $72.77 on Wednesday. The stock has a 50-day moving average price of $68.23 and a two-hundred day moving average price of $69.80. Marvell Technology, Inc. has a 1 year low of $46.07 and a 1 year high of $85.76. The stock has a market cap of $62.99 billion, a PE ratio of -64.40, a price-to-earnings-growth ratio of 3.29 and a beta of 1.46. 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 (NASDAQ:MRVL) last announced its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 EPS. Equities analysts forecast that Marvell Technology, Inc. will post 0.77 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.33%. Marvell Technology’s dividend payout ratio is -21.24%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MRVL. KeyCorp raised their price target on Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Wednesday. Stifel Nicolaus restated a “buy” rating and issued a $95.00 price objective (up from $90.00) on shares of Marvell Technology in a report on Friday, August 30th. 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 report on Friday, August 30th. Finally, Barclays increased their price target on Marvell Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Two investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.62.

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.