Arrow Financial Corp Sells 20,117 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Arrow Financial Corp reduced its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 52.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,041 shares of the semiconductor company's stock after selling 20,117 shares during the quarter. Arrow Financial Corp's holdings in Marvell Technology were worth $1,111,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MRVL. Hughes Financial Services LLC purchased a new position in Marvell Technology in the first quarter valued at about $26,000. Rossby Financial LCC acquired a new stake in shares of Marvell Technology in the first quarter worth $27,000. Security National Bank acquired a new position in shares of Marvell Technology in the first quarter worth $31,000. Lee Danner & Bass Inc. acquired a new position in Marvell Technology during the fourth quarter worth $35,000. Finally, Capital Analysts LLC boosted its holdings in Marvell Technology by 236.3% during the fourth quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 241 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Marvell Technology

In other news, COO Chris Koopmans sold 6,000 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $65.10, for a total transaction of $390,600.00. Following the completion of the sale, the chief operating officer owned 92,065 shares in the company, valued at $5,993,431.50. This trade represents a 6.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark Casper sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $72.35, for a total transaction of $217,050.00. Following the completion of the transaction, the executive vice president directly owned 17,163 shares of the company's stock, valued at approximately $1,241,743.05. This trade represents a 14.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,394 shares of company stock worth $1,873,126. Insiders own 0.19% of the company's stock.

Marvell Technology Trading Down 2.1%

Shares of Marvell Technology stock traded down $1.59 during trading hours on Monday, reaching $73.06. The stock had a trading volume of 15,480,869 shares, compared to its average volume of 15,921,052. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. Marvell Technology, Inc. has a 1 year low of $47.09 and a 1 year high of $127.48. The firm has a market capitalization of $63.11 billion, a price-to-earnings ratio of -128.18, a P/E/G ratio of 0.81 and a beta of 1.81. The firm has a 50 day simple moving average of $69.11 and a two-hundred day simple moving average of $78.67.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the company posted $0.24 earnings per share. Marvell Technology's revenue for the quarter was up 63.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Friday, July 11th. Marvell Technology's dividend payout ratio is currently -42.11%.

Analyst Upgrades and Downgrades

MRVL has been the subject of several recent analyst reports. TD Cowen raised their price objective on shares of Marvell Technology from $60.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Redburn Atlantic began coverage on shares of Marvell Technology in a report on Wednesday, May 28th. They issued a "neutral" rating and a $67.00 price target for the company. UBS Group reaffirmed a "buy" rating on shares of Marvell Technology in a report on Monday, June 2nd. Rosenblatt Securities reaffirmed a "buy" rating and issued a $124.00 price objective on shares of Marvell Technology in a research report on Wednesday, June 18th. Finally, Loop Capital cut their price objective on shares of Marvell Technology from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $94.47.

Marvell Technology Company Profile

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