ProShare Advisors LLC Decreases Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

ProShare Advisors LLC reduced its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 8.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 863,651 shares of the semiconductor company’s stock after selling 84,484 shares during the quarter. ProShare Advisors LLC owned approximately 0.10% of Marvell Technology worth $60,369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of MRVL. Tlwm grew its position in shares of Marvell Technology by 1.6% in the second quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock valued at $601,000 after purchasing an additional 136 shares in the last quarter. Bruce G. Allen Investments LLC grew its position in shares of Marvell Technology by 56.4% in the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 141 shares in the last quarter. Trueblood Wealth Management LLC grew its position in shares of Marvell Technology by 3.2% in the first quarter. Trueblood Wealth Management LLC now owns 4,944 shares of the semiconductor company’s stock valued at $350,000 after purchasing an additional 152 shares in the last quarter. Edmond DE Rothschild Holding S.A. grew its position in shares of Marvell Technology by 0.5% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 30,764 shares of the semiconductor company’s stock valued at $1,855,000 after purchasing an additional 162 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC grew its position in shares of Marvell Technology by 0.4% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 44,342 shares of the semiconductor company’s stock valued at $3,143,000 after purchasing an additional 168 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CEO Matthew J. Murphy sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $73.29, for a total transaction of $439,740.00. Following the completion of the transaction, the chief executive officer now owns 208,915 shares of the company’s stock, valued at approximately $15,311,380.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Marvell Technology news, CEO Matthew J. Murphy sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $73.29, for a total transaction of $439,740.00. Following the transaction, the chief executive officer now owns 208,915 shares in the company, valued at approximately $15,311,380.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Muhammad Raghib Hussain sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $75.00, for a total value of $3,750,000.00. Following the transaction, the insider now owns 838,571 shares in the company, valued at approximately $62,892,825. The disclosure for this sale can be found here. Insiders sold 160,000 shares of company stock valued at $11,878,785 in the last 90 days. Insiders own 0.33% of the company’s stock.

Marvell Technology Trading Down 1.3 %

NASDAQ MRVL opened at $73.87 on Monday. Marvell Technology, Inc. has a 1-year low of $46.07 and a 1-year high of $85.76. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average of $68.20 and a 200-day moving average of $69.63. The firm has a market cap of $63.94 billion, a PE ratio of -65.37, a price-to-earnings-growth ratio of 3.29 and a beta of 1.46.

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, meeting analysts’ consensus estimates of $0.30. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the company posted $0.18 EPS. Marvell Technology’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, sell-side analysts forecast that Marvell Technology, Inc. will post 0.77 EPS for the current year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Friday, October 11th. Marvell Technology’s payout ratio is -21.24%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Rosenblatt Securities lifted their price target on Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Evercore ISI lifted their price target on Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Stifel Nicolaus restated a “buy” rating and set a $95.00 target price (up from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. Bank of America boosted their target price on Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Oppenheimer restated an “outperform” rating and set a $90.00 target price (up from $80.00) on shares of Marvell Technology in a research report on Friday, May 31st. Two research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.62.

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.