Advisory Services Network LLC Acquires 9,485 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Advisory Services Network LLC increased its holdings in Marvell Technology, Inc. (NASDAQ:MRVLGet Rating) by 40.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 33,135 shares of the semiconductor company’s stock after purchasing an additional 9,485 shares during the period. Advisory Services Network LLC’s holdings in Marvell Technology were worth $2,375,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Neuberger Berman Group LLC boosted its position in Marvell Technology by 1.2% during the first quarter. Neuberger Berman Group LLC now owns 4,327,734 shares of the semiconductor company’s stock valued at $310,343,000 after acquiring an additional 50,286 shares during the last quarter. EP Wealth Advisors LLC boosted its position in Marvell Technology by 13.7% during the first quarter. EP Wealth Advisors LLC now owns 9,955 shares of the semiconductor company’s stock valued at $714,000 after acquiring an additional 1,202 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Marvell Technology by 781.8% during the first quarter. The Manufacturers Life Insurance Company now owns 180,435 shares of the semiconductor company’s stock valued at $13,135,000 after acquiring an additional 159,972 shares during the last quarter. Toroso Investments LLC boosted its position in Marvell Technology by 13.3% during the first quarter. Toroso Investments LLC now owns 12,824 shares of the semiconductor company’s stock valued at $920,000 after acquiring an additional 1,502 shares during the last quarter. Finally, CALIFORNIA FIRST LEASING Corp boosted its position in Marvell Technology by 5.3% during the first quarter. CALIFORNIA FIRST LEASING Corp now owns 129,500 shares of the semiconductor company’s stock valued at $9,286,000 after acquiring an additional 6,500 shares during the last quarter. Institutional investors own 80.95% of the company’s stock.

Insider Activity at Marvell Technology

In related news, EVP Dan Christman sold 14,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $57.28, for a total transaction of $801,920.00. Following the sale, the executive vice president now directly owns 92,203 shares in the company, valued at approximately $5,281,387.84. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Mitchell Gaynor sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $47.75, for a total transaction of $238,750.00. Following the completion of the transaction, the executive vice president now directly owns 108,429 shares in the company, valued at $5,177,484.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Dan Christman sold 14,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $57.28, for a total value of $801,920.00. Following the transaction, the executive vice president now owns 92,203 shares of the company’s stock, valued at $5,281,387.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,000 shares of company stock worth $1,279,020. 0.45% of the stock is owned by company insiders.

Marvell Technology Stock Performance

Shares of MRVL opened at $46.35 on Friday. The firm has a market cap of $39.52 billion, a PE ratio of -178.27, a PEG ratio of 1.89 and a beta of 1.51. The stock’s fifty day moving average price is $51.02 and its two-hundred day moving average price is $56.01. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.35 and a quick ratio of 0.93. Marvell Technology, Inc. has a 1 year low of $41.07 and a 1 year high of $93.85.

Marvell Technology (NASDAQ:MRVLGet Rating) last released its quarterly earnings data on Thursday, August 25th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. Marvell Technology had a positive return on equity of 7.94% and a negative net margin of 3.95%. The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the company posted $0.21 EPS. The firm’s revenue for the quarter was up 41.0% compared to the same quarter last year. On average, equities research analysts forecast that Marvell Technology, Inc. will post 1.61 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on MRVL shares. Exane BNP Paribas started coverage on shares of Marvell Technology in a research report on Tuesday, September 13th. They set an “outperform” rating on the stock. B. Riley cut shares of Marvell Technology from a “buy” rating to a “neutral” rating and cut their price target for the company from $75.00 to $63.00 in a research report on Wednesday, June 15th. StockNews.com lowered shares of Marvell Technology from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. BNP Paribas started coverage on shares of Marvell Technology in a report on Tuesday, September 13th. They set an “outperform” rating and a $62.00 price objective on the stock. Finally, Wells Fargo & Company dropped their price objective on shares of Marvell Technology from $65.00 to $58.00 and set an “equal weight” rating on the stock in a report on Friday, August 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus target price of $81.21.

Marvell Technology Company Profile

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Marvell Technology, Inc, together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors.

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Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)

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