Brinker Capital Investments LLC Has $927,000 Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Brinker Capital Investments LLC trimmed its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL – Get Rating) by 4.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,610 shares of the semiconductor company’s stock after selling 1,006 shares during the quarter. Brinker Capital Investments LLC’s holdings in Marvell Technology were worth $927,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Canton Hathaway LLC bought a new position in shares of Marvell Technology in the second quarter valued at approximately $28,000. Arlington Partners LLC bought a new position in shares of Marvell Technology in the second quarter valued at approximately $29,000. Deseret Mutual Benefit Administrators raised its stake in shares of Marvell Technology by 140.3% in the second quarter. Deseret Mutual Benefit Administrators now owns 668 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 390 shares during the last quarter. Crewe Advisors LLC raised its stake in shares of Marvell Technology by 38.5% in the second quarter. Crewe Advisors LLC now owns 734 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 204 shares during the last quarter. Finally, Worth Asset Management LLC bought a new position in shares of Marvell Technology in the first quarter valued at approximately $40,000. Institutional investors own 81.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MRVL shares. B. Riley cut their target price on shares of Marvell Technology from $63.00 to $52.00 and set a “neutral” rating for the company in a research note on Tuesday, October 4th. Oppenheimer dropped their price objective on shares of Marvell Technology from $80.00 to $70.00 in a research report on Tuesday, January 10th. UBS Group dropped their price objective on shares of Marvell Technology from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, December 2nd. Barclays dropped their price objective on shares of Marvell Technology from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, December 2nd. Finally, Credit Suisse Group assumed coverage on shares of Marvell Technology in a research report on Tuesday, November 15th. They issued an “outperform” rating and a $56.00 price objective for the company. Four analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $63.92.

Marvell Technology Price Performance

Shares of MRVL stock opened at $39.48 on Monday. Marvell Technology, Inc. has a 12-month low of $33.75 and a 12-month high of $78.19. The firm has a market capitalization of $33.68 billion, a price-to-earnings ratio of -246.75, a price-to-earnings-growth ratio of 2.41 and a beta of 1.45. The company has a quick ratio of 0.92, a current ratio of 1.31 and a debt-to-equity ratio of 0.25. The firm has a fifty day moving average of $40.30 and a 200-day moving average of $44.44.

Marvell Technology (NASDAQ:MRVL – Get Rating) last announced its quarterly earnings results on Thursday, December 1st. The semiconductor company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.02). Marvell Technology had a negative net margin of 2.43% and a positive return on equity of 8.50%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.56 billion. On average, equities research analysts forecast that Marvell Technology, Inc. will post 1.5 earnings per share for the current year.

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 issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Thursday, January 5th. Marvell Technology’s dividend payout ratio (DPR) is -150.00%.

Insider Activity

In other news, CAO Willem A. Meintjes sold 10,000 shares of the business’s stock in a transaction on Friday, January 6th. The shares were sold at an average price of $34.92, for a total value of $349,200.00. Following the completion of the transaction, the chief accounting officer now owns 72,896 shares of the company’s stock, valued at approximately $2,545,528.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.45% of the stock is owned by company insiders.

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.