AE Wealth Management LLC Has $840,000 Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

AE Wealth Management LLC lowered its position in shares of Marvell Technology, Inc. (NASDAQ:MRVLGet Rating) by 38.8% in the third quarter, HoldingsChannel reports. The fund owned 19,581 shares of the semiconductor company’s stock after selling 12,419 shares during the period. AE Wealth Management LLC’s holdings in Marvell Technology were worth $840,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. boosted its position in Marvell Technology by 1.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 224,734 shares of the semiconductor company’s stock worth $9,644,000 after acquiring an additional 3,701 shares during the last quarter. Xponance Inc. boosted its position in Marvell Technology by 2.2% during the 3rd quarter. Xponance Inc. now owns 16,455 shares of the semiconductor company’s stock worth $706,000 after acquiring an additional 348 shares during the last quarter. Stratos Wealth Advisors LLC acquired a new position in Marvell Technology during the 3rd quarter worth approximately $242,000. First Pacific Financial boosted its position in Marvell Technology by 13.9% during the 3rd quarter. First Pacific Financial now owns 12,607 shares of the semiconductor company’s stock worth $541,000 after acquiring an additional 1,540 shares during the last quarter. Finally, Aaron Wealth Advisors LLC acquired a new position in Marvell Technology during the 3rd quarter worth approximately $471,000. Institutional investors and hedge funds own 81.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MRVL. Piper Sandler dropped their price objective on Marvell Technology from $80.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, December 2nd. B. Riley dropped their price objective on Marvell Technology from $63.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 4th. Oppenheimer dropped their price objective on Marvell Technology from $80.00 to $70.00 in a research note on Tuesday. Needham & Company LLC dropped their price target on Marvell Technology from $64.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, December 2nd. Finally, Credit Suisse Group started coverage on Marvell Technology in a research note on Tuesday, November 15th. They issued an “outperform” rating and a $56.00 price target on the stock. Four research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus target price of $63.92.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $39.31 on Friday. The business’s 50-day moving average price is $40.31 and its 200-day moving average price is $44.60. Marvell Technology, Inc. has a 12 month low of $33.75 and a 12 month high of $86.65. The firm has a market capitalization of $33.54 billion, a price-to-earnings ratio of -245.69, a PEG ratio of 2.26 and a beta of 1.45. The company has a current ratio of 1.31, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Friday, January 6th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Thursday, January 5th. Marvell Technology’s payout ratio is -150.00%.

Insider Activity

In other news, EVP Mitchell Gaynor sold 5,000 shares of Marvell Technology stock in a transaction dated Saturday, October 15th. The stock was sold at an average price of $39.61, for a total transaction of $198,050.00. Following the sale, the executive vice president now directly owns 103,429 shares of the company’s stock, valued at $4,096,822.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Mitchell Gaynor sold 5,000 shares of the firm’s stock in a transaction dated Saturday, October 15th. The stock was sold at an average price of $39.61, for a total transaction of $198,050.00. Following the completion of the transaction, the executive vice president now directly owns 103,429 shares in the company, valued at $4,096,822.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Willem A. Meintjes sold 10,000 shares of the firm’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $34.92, for a total value of $349,200.00. Following the transaction, the chief accounting officer now owns 72,896 shares of the company’s stock, valued at $2,545,528.32. The disclosure for this sale can be found here. Insiders own 0.45% of the company’s stock.

Marvell Technology Company Profile

(Get Rating)

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.

See Also

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

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