Kovack Advisors Inc. Cuts Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Kovack Advisors Inc. cut its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,081 shares of the semiconductor company’s stock after selling 158 shares during the period. Kovack Advisors Inc.’s holdings in Marvell Technology were worth $583,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MRVL. Davidson Kempner Capital Management LP boosted its position in Marvell Technology by 26.5% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock valued at $17,482,000 after acquiring an additional 52,365 shares in the last quarter. Diversified Trust Co bought a new stake in Marvell Technology during the second quarter valued at about $932,000. Orion Portfolio Solutions LLC grew its stake in Marvell Technology by 47.1% in the first quarter. Orion Portfolio Solutions LLC now owns 32,191 shares of the semiconductor company’s stock valued at $2,282,000 after purchasing an additional 10,306 shares during the last quarter. WD Rutherford LLC raised its holdings in Marvell Technology by 182.5% in the third quarter. WD Rutherford LLC now owns 18,266 shares of the semiconductor company’s stock worth $1,317,000 after purchasing an additional 11,801 shares in the last quarter. Finally, Silicon Valley Capital Partners lifted its position in shares of Marvell Technology by 254.6% during the third quarter. Silicon Valley Capital Partners now owns 32,978 shares of the semiconductor company’s stock valued at $2,378,000 after buying an additional 23,678 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $120,750.00. Following the sale, the chief financial officer now owns 110,253 shares in the company, valued at $8,875,366.50. This trade represents a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the completion of the transaction, the executive vice president now directly owns 109,244 shares in the company, valued at $8,823,637.88. This represents a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 259,500 shares of company stock worth $20,230,710 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MRVL. Roth Mkm reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $100.00 price target on shares of Marvell Technology in a report on Friday, August 30th. Stifel Nicolaus reaffirmed a “buy” rating and set a $95.00 price target (up from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. Loop Capital assumed coverage on Marvell Technology in a research report on Monday. They issued a “hold” rating and a $95.00 price objective for the company. Finally, TD Cowen raised Marvell Technology to a “strong-buy” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $91.77.

Marvell Technology Trading Up 0.7 %

Shares of MRVL opened at $90.70 on Friday. Marvell Technology, Inc. has a 52 week low of $50.35 and a 52 week high of $95.09. The stock’s 50-day moving average price is $78.45 and its 200-day moving average price is $72.56. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings data 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 business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the company earned $0.18 EPS. The business’s revenue was down 5.1% on a year-over-year basis. As a group, equities analysts predict that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.26%. The ex-dividend date was Friday, October 11th. Marvell Technology’s payout ratio is currently -21.62%.

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.