Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Tandem Capital Management Corp ADV

Tandem Capital Management Corp ADV decreased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 2.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 38,040 shares of the semiconductor company’s stock after selling 959 shares during the quarter. Marvell Technology makes up approximately 1.4% of Tandem Capital Management Corp ADV’s portfolio, making the stock its 22nd largest holding. Tandem Capital Management Corp ADV’s holdings in Marvell Technology were worth $2,743,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in MRVL. Salomon & Ludwin LLC purchased a new position in shares of Marvell Technology during the first quarter worth about $31,000. Quarry LP purchased a new stake in Marvell Technology in the 2nd quarter valued at approximately $32,000. Strategic Investment Solutions Inc. IL purchased a new stake in Marvell Technology in the 2nd quarter valued at approximately $32,000. Whittier Trust Co. boosted its holdings in Marvell Technology by 74.5% in the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 210 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC purchased a new stake in Marvell Technology in the 1st quarter valued at approximately $35,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group lifted 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a report on Friday, August 30th. Roth Mkm reiterated a “buy” rating and set a $95.00 price target on shares of Marvell Technology in a research report on Friday, August 30th. Morgan Stanley lifted their price target on shares of Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. Finally, Citigroup reiterated a “buy” rating and set a $91.00 price target on shares of Marvell Technology in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.62.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $66.75, for a total value of $100,125.00. Following the transaction, the chief financial officer now owns 113,253 shares of the company’s stock, valued at $7,559,637.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Marvell Technology news, Director Ford Tamer sold 92,000 shares of Marvell Technology stock in a transaction on Thursday, September 12th. The shares were 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 position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 113,253 shares of the company’s stock, valued at approximately $7,559,637.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 261,000 shares of company stock valued at $20,330,835. Insiders own 0.33% of the company’s stock.

Marvell Technology Trading Down 2.4 %

Shares of Marvell Technology stock opened at $82.80 on Thursday. The firm has a market cap of $73.38 billion, a PE ratio of -74.59, a P/E/G ratio of 3.55 and a beta of 1.45. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The business’s fifty day moving average is $74.22 and its two-hundred day moving average is $70.73. Marvell Technology, Inc. has a fifty-two week low of $46.07 and a fifty-two week high of $85.76.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The company’s revenue was down 5.1% on a year-over-year basis. During the same period last year, the firm earned $0.18 earnings per share. Analysts anticipate that Marvell Technology, Inc. will post 0.78 earnings per share for the current year.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.29%. Marvell Technology’s payout ratio is -21.62%.

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.