Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC raised its stake in Marvell Technology, Inc. (NASDAQ:MRVLGet Rating) by 3.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 9,681 shares of the semiconductor company’s stock after buying an additional 338 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Marvell Technology were worth $847,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. AE Wealth Management LLC raised its holdings in Marvell Technology by 12.7% during the third quarter. AE Wealth Management LLC now owns 15,293 shares of the semiconductor company’s stock worth $922,000 after purchasing an additional 1,723 shares in the last quarter. Shell Asset Management Co. raised its holdings in Marvell Technology by 6.0% during the third quarter. Shell Asset Management Co. now owns 31,122 shares of the semiconductor company’s stock worth $1,877,000 after purchasing an additional 1,762 shares in the last quarter. Pendal Group Ltd raised its holdings in Marvell Technology by 1.5% during the third quarter. Pendal Group Ltd now owns 21,700 shares of the semiconductor company’s stock worth $1,309,000 after purchasing an additional 315 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Marvell Technology by 2.5% during the third quarter. PNC Financial Services Group Inc. now owns 31,663 shares of the semiconductor company’s stock worth $1,910,000 after purchasing an additional 780 shares in the last quarter. Finally, Advisor Group Holdings Inc. raised its holdings in Marvell Technology by 18.7% during the third quarter. Advisor Group Holdings Inc. now owns 342,469 shares of the semiconductor company’s stock worth $20,644,000 after purchasing an additional 53,860 shares in the last quarter. Institutional investors and hedge funds own 82.49% of the company’s stock.

Several research firms have issued reports on MRVL. Wells Fargo & Company dropped their price target on Marvell Technology from $80.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, March 4th. Barclays dropped their price target on Marvell Technology from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday, April 25th. Deutsche Bank Aktiengesellschaft dropped their price target on Marvell Technology from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, April 20th. B. Riley dropped their price target on Marvell Technology from $115.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, March 4th. Finally, Raymond James raised Marvell Technology from a “market perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a report on Monday, April 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $95.00.

Shares of NASDAQ:MRVL traded down $2.98 during midday trading on Friday, reaching $58.08. 9,136,884 shares of the company were exchanged, compared to its average volume of 9,013,798. Marvell Technology, Inc. has a fifty-two week low of $40.79 and a fifty-two week high of $93.85. The company has a quick ratio of 1.28, a current ratio of 1.80 and a debt-to-equity ratio of 0.29. The stock has a fifty day simple moving average of $65.89 and a two-hundred day simple moving average of $72.56. The firm has a market cap of $49.24 billion, a PE ratio of -107.56, a P/E/G ratio of 1.95 and a beta of 1.20.

Marvell Technology (NASDAQ:MRVLGet Rating) last issued its quarterly earnings results on Thursday, March 3rd. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. Marvell Technology had a negative net margin of 9.44% and a positive return on equity of 5.60%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the business earned $0.21 EPS. The company’s revenue was up 68.3% compared to the same quarter last year. As a group, analysts forecast that Marvell Technology, Inc. will post 1.66 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 27th. Shareholders of record on Friday, April 8th were paid a $0.06 dividend. The ex-dividend date of this dividend was Thursday, April 7th. This represents a $0.24 annualized dividend and a yield of 0.41%. Marvell Technology’s payout ratio is currently -44.44%.

In related news, EVP Dan Christman sold 15,000 shares of Marvell Technology stock in a transaction dated Tuesday, March 29th. The shares were sold at an average price of $75.87, for a total transaction of $1,138,050.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mitchell Gaynor sold 5,000 shares of Marvell Technology stock in a transaction dated Tuesday, February 15th. The stock was sold at an average price of $70.54, for a total transaction of $352,700.00. The disclosure for this sale can be found here. Insiders sold a total of 238,800 shares of company stock worth $15,841,829 over the last quarter. Company insiders own 0.29% 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.

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

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