HighTower Advisors LLC Has $14.88 Million Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

HighTower Advisors LLC decreased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVLFree Report) by 0.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 274,962 shares of the semiconductor company’s stock after selling 555 shares during the quarter. HighTower Advisors LLC’s holdings in Marvell Technology were worth $14,876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Lindbrook Capital LLC raised its holdings in Marvell Technology by 67.6% during the 2nd quarter. Lindbrook Capital LLC now owns 429 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 173 shares during the period. Deseret Mutual Benefit Administrators raised its holdings in Marvell Technology by 27.3% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 904 shares of the semiconductor company’s stock valued at $54,000 after acquiring an additional 194 shares during the period. Trifecta Capital Advisors LLC raised its holdings in Marvell Technology by 17.7% during the 3rd quarter. Trifecta Capital Advisors LLC now owns 1,499 shares of the semiconductor company’s stock valued at $81,000 after acquiring an additional 225 shares during the period. Whittier Trust Co. increased its holdings in shares of Marvell Technology by 59.9% in the third quarter. Whittier Trust Co. now owns 603 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 226 shares during the period. Finally, Moneta Group Investment Advisors LLC increased its holdings in shares of Marvell Technology by 0.5% in the second quarter. Moneta Group Investment Advisors LLC now owns 51,594 shares of the semiconductor company’s stock worth $3,084,000 after purchasing an additional 239 shares during the period. Institutional investors own 83.32% of the company’s stock.

Insider Activity

In other news, CFO Willem A. Meintjes sold 4,000 shares of the stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $60.01, for a total transaction of $240,040.00. Following the sale, the chief financial officer now owns 100,730 shares in the company, valued at $6,044,807.30. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Willem A. Meintjes sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $60.01, for a total value of $240,040.00. Following the sale, the chief financial officer now owns 100,730 shares in the company, valued at $6,044,807.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $68.20, for a total transaction of $68,200.00. Following the completion of the sale, the chief financial officer now owns 103,986 shares in the company, valued at approximately $7,091,845.20. The disclosure for this sale can be found here. Insiders have sold a total of 201,000 shares of company stock worth $12,056,240 over the last 90 days. 0.45% of the stock is currently owned by insiders.

Marvell Technology Trading Up 2.3 %

Shares of NASDAQ MRVL opened at $70.42 on Tuesday. Marvell Technology, Inc. has a fifty-two week low of $36.64 and a fifty-two week high of $73.53. The company has a 50 day simple moving average of $63.00 and a two-hundred day simple moving average of $57.90. The company has a quick ratio of 1.08, a current ratio of 1.58 and a debt-to-equity ratio of 0.27.

Marvell Technology (NASDAQ:MRVLGet Free Report) last announced its earnings results on Thursday, November 30th. The semiconductor company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. Marvell Technology had a negative net margin of 10.11% and a positive return on equity of 5.20%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the firm earned $0.41 earnings per share. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, analysts forecast that Marvell Technology, Inc. will post 0.85 EPS for the current year.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, January 5th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Thursday, January 4th. Marvell Technology’s payout ratio is -36.92%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MRVL shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 price target on shares of Marvell Technology in a report on Friday, December 1st. Susquehanna decreased their price target on shares of Marvell Technology from $70.00 to $65.00 and set a “positive” rating on the stock in a report on Friday, December 1st. KeyCorp decreased their price target on shares of Marvell Technology from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Friday, December 1st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price target on shares of Marvell Technology in a report on Thursday, November 30th. Finally, Cantor Fitzgerald started coverage on shares of Marvell Technology in a research report on Tuesday, January 23rd. They issued an “overweight” rating and a $80.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.96.

Check Out Our Latest Report on MRVL

Marvell Technology Company Profile

(Free Report)

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops, scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.

See Also

Want to see what other hedge funds are holding MRVL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marvell Technology, Inc. (NASDAQ:MRVLFree Report).

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

Receive News & Ratings for Marvell Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marvell Technology and related companies with MarketBeat.com's FREE daily email newsletter.