Intrepid Financial Planning Group LLC Sells 1,000 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Intrepid Financial Planning Group LLC lowered its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 3.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,800 shares of the semiconductor company’s stock after selling 1,000 shares during the quarter. Intrepid Financial Planning Group LLC’s holdings in Marvell Technology were worth $1,861,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Davidson Kempner Capital Management LP lifted its stake in shares of Marvell Technology by 26.5% during the second 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 during the period. Diversified Trust Co acquired a new position in Marvell Technology during the 2nd quarter valued at about $932,000. Orion Portfolio Solutions LLC boosted its stake in shares of Marvell Technology by 47.1% in the 1st 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 grew its position in shares of Marvell Technology by 182.5% during the 3rd quarter. WD Rutherford LLC now owns 18,266 shares of the semiconductor company’s stock worth $1,317,000 after buying an additional 11,801 shares during the period. Finally, Silicon Valley Capital Partners raised its stake 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 worth $2,378,000 after buying an additional 23,678 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In other Marvell Technology news, insider Muhammad Raghib Hussain sold 150,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the completion of the transaction, the insider now owns 694,487 shares of the company’s stock, valued at approximately $55,906,203.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Marvell Technology news, CEO Matthew J. Murphy sold 6,000 shares of the company’s stock in a transaction dated 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 owns 208,915 shares of the company’s stock, valued at $15,311,380.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Muhammad Raghib Hussain sold 150,000 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 $12,075,000.00. Following the sale, the insider now directly owns 694,487 shares in the company, valued at $55,906,203.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 261,000 shares of company stock valued at $20,330,835 over the last ninety days. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on MRVL shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. Morgan Stanley upped their price objective on Marvell Technology from $77.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, August 30th. TD Cowen upgraded Marvell Technology to a “strong-buy” rating in a report on Monday, September 16th. Rosenblatt Securities boosted their target price on Marvell Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Loop Capital initiated coverage on shares of Marvell Technology in a report on Monday. They issued a “hold” rating and a $95.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.77.

Marvell Technology Trading Down 1.7 %

Shares of NASDAQ:MRVL opened at $92.25 on Tuesday. The business’s 50 day simple moving average is $77.20 and its 200 day simple moving average is $72.14. Marvell Technology, Inc. has a 1 year low of $50.35 and a 1 year high of $95.09. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. The company has a market capitalization of $81.75 billion, a P/E ratio of -83.11, a P/E/G ratio of 4.08 and a beta of 1.44.

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 positive return on equity of 4.31% and a negative net margin of 18.30%. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the business earned $0.18 earnings per share. Marvell Technology’s revenue was down 5.1% on a year-over-year basis. On average, research analysts anticipate that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal year.

Marvell Technology Announces Dividend

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