Inspire Investing LLC Cuts Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Inspire Investing LLC trimmed its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 39.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,771 shares of the semiconductor company’s stock after selling 2,469 shares during the quarter. Inspire Investing LLC’s holdings in Marvell Technology were worth $264,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MRVL. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Marvell Technology by 5.3% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 75,903 shares of the semiconductor company’s stock valued at $4,578,000 after purchasing an additional 3,800 shares during the last quarter. Congress Wealth Management LLC DE acquired a new position in shares of Marvell Technology in the 4th quarter valued at $566,000. Edmond DE Rothschild Holding S.A. raised its stake 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 worth $1,855,000 after purchasing an additional 162 shares during the last quarter. Stifel Financial Corp raised its position in Marvell Technology by 12.1% during the 4th quarter. Stifel Financial Corp now owns 1,126,020 shares of the semiconductor company’s stock worth $67,916,000 after buying an additional 121,980 shares during the last quarter. Finally, Focus Financial Network Inc. ADV acquired a new stake in Marvell Technology during the 4th quarter valued at approximately $1,487,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In related news, CEO Matthew J. Murphy sold 6,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $15,311,380.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Matthew J. Murphy sold 6,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $73.29, for a total value of $439,740.00. Following the completion of the transaction, the chief executive officer now directly owns 208,915 shares in the company, valued at $15,311,380.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $70.07, for a total value of $175,175.00. Following the sale, the executive vice president now directly owns 20,450 shares of the company’s stock, valued at approximately $1,432,931.50. The disclosure for this sale can be found here. Insiders have sold a total of 160,000 shares of company stock worth $11,878,785 in the last quarter. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MRVL. The Goldman Sachs Group boosted their price objective on Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a report on Friday, August 30th. TD Cowen raised shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, September 16th. KeyCorp lifted their target price on shares of Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Stifel Nicolaus reissued a “buy” rating and set a $95.00 price target (up from $90.00) on shares of Marvell Technology in a report on Friday, August 30th. Finally, Barclays upped their price objective on shares of Marvell Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Two 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 MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus price target of $91.62.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $71.20 on Wednesday. The stock has a market capitalization of $61.63 billion, a price-to-earnings ratio of -63.01, a price-to-earnings-growth ratio of 3.29 and a beta of 1.46. Marvell Technology, Inc. has a 52 week low of $46.07 and a 52 week high of $85.76. The firm has a 50-day simple moving average of $68.07 and a 200-day simple moving average of $69.51. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28.

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 business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The business’s revenue was down 5.1% on a year-over-year basis. During the same period last year, the company posted $0.18 EPS. On average, equities analysts predict that Marvell Technology, Inc. will post 0.77 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.34%. The ex-dividend date is Friday, October 11th. Marvell Technology’s payout ratio is currently -21.24%.

About Marvell Technology

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.