Global Retirement Partners LLC Has $413,000 Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Global Retirement Partners LLC cut its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 5.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,732 shares of the semiconductor company’s stock after selling 331 shares during the period. Global Retirement Partners LLC’s holdings in Marvell Technology were worth $413,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Marvell Technology by 0.6% during the first quarter. Vanguard Group Inc. now owns 72,810,448 shares of the semiconductor company’s stock worth $5,160,805,000 after buying an additional 468,086 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Marvell Technology by 13.4% in the first quarter. Janus Henderson Group PLC now owns 13,478,472 shares of the semiconductor company’s stock worth $955,400,000 after purchasing an additional 1,591,874 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Marvell Technology by 24.1% in the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock worth $812,509,000 after purchasing an additional 2,254,610 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Marvell Technology by 17.6% in the second quarter. Van ECK Associates Corp now owns 5,901,773 shares of the semiconductor company’s stock worth $412,533,000 after purchasing an additional 884,380 shares during the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of Marvell Technology by 3.0% in the second quarter. Clearbridge Investments LLC now owns 5,189,682 shares of the semiconductor company’s stock worth $362,759,000 after purchasing an additional 150,109 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, insider Muhammad Raghib Hussain sold 150,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $12,075,000.00. Following the completion of the sale, the insider now owns 694,487 shares in the company, valued at approximately $55,906,203.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Marvell Technology news, insider Muhammad Raghib Hussain sold 150,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $12,075,000.00. Following the completion of the sale, the insider now owns 694,487 shares in the company, valued at approximately $55,906,203.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $66.75, for a total transaction of $100,125.00. Following the transaction, the chief financial officer now directly owns 113,253 shares of the company’s stock, valued at $7,559,637.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 255,000 shares of company stock worth $19,846,215. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Evercore ISI boosted their price objective on shares of Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 price objective (up previously from $90.00) on shares of Marvell Technology in a research note on Friday, August 30th. KeyCorp boosted their price objective on shares of Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Piper Sandler reissued an “overweight” rating and issued a $100.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. Finally, Rosenblatt Securities upped their price target on shares of Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.62.

Marvell Technology Trading Up 2.5 %

MRVL opened at $81.83 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. Marvell Technology, Inc. has a fifty-two week low of $46.07 and a fifty-two week high of $85.76. The firm has a market capitalization of $70.83 billion, a PE ratio of -72.42, a P/E/G ratio of 3.17 and a beta of 1.45. The company’s 50-day moving average is $72.42 and its 200 day moving average is $70.26.

Marvell Technology (NASDAQ:MRVL) last posted 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. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The company 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 business posted $0.18 EPS. The firm’s revenue was down 5.1% compared to the same quarter last year. As a group, research analysts predict that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be paid a $0.06 dividend. The ex-dividend date is Friday, October 11th. This represents a $0.24 annualized dividend and a yield of 0.29%. Marvell Technology’s dividend payout ratio (DPR) is -21.24%.

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.