D.A. Davidson & CO. Sells 10,095 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

D.A. Davidson & CO. cut its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 17.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,147 shares of the semiconductor company's stock after selling 10,095 shares during the period. D.A. Davidson & CO.'s holdings in Marvell Technology were worth $2,903,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Invesco Ltd. raised its holdings in shares of Marvell Technology by 30.1% in the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock valued at $1,784,649,000 after purchasing an additional 3,737,705 shares during the last quarter. Janus Henderson Group PLC increased its stake in Marvell Technology by 6.9% in the 4th quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company's stock valued at $1,462,274,000 after buying an additional 857,087 shares during the last quarter. Wellington Management Group LLP increased its stake in Marvell Technology by 43.1% in the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company's stock valued at $1,374,252,000 after buying an additional 3,747,982 shares during the last quarter. Geode Capital Management LLC lifted its position in Marvell Technology by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company's stock worth $1,263,755,000 after buying an additional 80,005 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Marvell Technology during the 4th quarter worth about $1,138,354,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $68.52, for a total value of $102,780.00. Following the transaction, the chief financial officer owned 121,348 shares in the company, valued at approximately $8,314,764.96. This represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Casper sold 12,460 shares of the firm's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $685,300.00. The disclosure for this sale can be found here. Insiders sold 27,394 shares of company stock valued at $1,656,076 in the last ninety days. Insiders own 0.33% of the company's stock.

Marvell Technology Trading Down 4.8%

Shares of MRVL traded down $3.63 during mid-day trading on Monday, reaching $71.55. 21,638,604 shares of the company were exchanged, compared to its average volume of 19,118,994. The stock has a market capitalization of $61.81 billion, a PE ratio of -125.53, a PEG ratio of 0.81 and a beta of 1.81. The business has a 50 day simple moving average of $66.54 and a two-hundred day simple moving average of $81.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 1.30. Marvell Technology, Inc. has a 52 week low of $47.08 and a 52 week high of $127.48.

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

Marvell Technology Dividend Announcement

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 dividend of $0.06 per share. The ex-dividend date is Friday, July 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.34%. Marvell Technology's payout ratio is presently -42.11%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Piper Sandler reiterated an "overweight" rating and set a $85.00 target price (down previously from $95.00) on shares of Marvell Technology in a report on Friday, May 30th. UBS Group reiterated a "buy" rating on shares of Marvell Technology in a research note on Monday, June 2nd. Barclays cut their price objective on Marvell Technology from $130.00 to $80.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Raymond James Financial restated an "outperform" rating and set a $90.00 target price (down from $110.00) on shares of Marvell Technology in a report on Friday, May 30th. Finally, Melius downgraded shares of Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 price objective for the company. in a research report on Thursday, May 22nd. Six equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Marvell Technology presently has an average rating of "Moderate Buy" and a consensus target price of $96.33.

Marvell Technology 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.