Bard Financial Services Inc. Sells 1,050 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Bard Financial Services Inc. trimmed its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 24.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,265 shares of the semiconductor company’s stock after selling 1,050 shares during the quarter. Bard Financial Services Inc.’s holdings in Marvell Technology were worth $235,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Tlwm raised its stake in Marvell Technology by 1.6% during the second quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock worth $601,000 after buying an additional 136 shares during the last quarter. Bruce G. Allen Investments LLC grew its holdings in Marvell Technology by 56.4% during the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 141 shares during the period. Trueblood Wealth Management LLC lifted its stake in shares of Marvell Technology by 3.2% in the 1st 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 during the period. Sheaff Brock Investment Advisors LLC boosted its position in shares of Marvell Technology by 0.4% during the 1st 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. Finally, Pathway Financial Advisers LLC grew its stake in Marvell Technology by 1.2% during the second quarter. Pathway Financial Advisers LLC now owns 14,601 shares of the semiconductor company’s stock worth $1,019,000 after purchasing an additional 169 shares during the period. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Price Performance

Shares of Marvell Technology stock traded up $1.17 during trading on Friday, hitting $73.41. The stock had a trading volume of 10,253,214 shares, compared to its average volume of 12,431,837. Marvell Technology, Inc. has a 12 month low of $46.07 and a 12 month high of $85.76. The business’s 50-day moving average is $68.91 and its 200 day moving average is $69.71. 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 firm has a market cap of $63.54 billion, a price-to-earnings ratio of -64.96, a P/E/G ratio of 3.12 and a beta of 1.45.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the firm earned $0.18 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Marvell Technology, Inc. will post 0.78 earnings per share for the current year.

Marvell Technology Dividend Announcement

The business 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 of this dividend 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 (DPR) is currently -21.24%.

Insider Activity

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $70.83, for a total value of $177,075.00. Following the completion of the sale, the executive vice president now owns 22,494 shares in the company, valued at approximately $1,593,250.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $70.83, for a total transaction of $177,075.00. Following the transaction, the executive vice president now owns 22,494 shares in the company, valued at $1,593,250.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ford Tamer sold 92,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now owns 351,193 shares of the company’s stock, valued at $26,044,472.88. This trade represents 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 160,000 shares of company stock valued at $11,880,685. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MRVL. Barclays boosted 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. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Needham & Company LLC restated a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a report on Friday, August 30th. TD Cowen upgraded shares of Marvell Technology to a “strong-buy” rating in a report on Monday, September 16th. Finally, The Goldman Sachs Group raised their target price on Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus 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.