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

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

Several other institutional investors have also added to or reduced their stakes in the company. Intrepid Financial Planning Group LLC boosted its position in shares of Marvell Technology by 0.3% in the fourth quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company's stock valued at $2,860,000 after acquiring an additional 90 shares during the period. PDS Planning Inc boosted its holdings in Marvell Technology by 3.3% in the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock valued at $319,000 after purchasing an additional 92 shares during the period. Tradewinds LLC. boosted its holdings in Marvell Technology by 0.7% in the 4th quarter. Tradewinds LLC. now owns 14,050 shares of the semiconductor company's stock valued at $1,552,000 after purchasing an additional 101 shares during the period. Coldstream Capital Management Inc. boosted its holdings in Marvell Technology by 1.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 11,344 shares of the semiconductor company's stock valued at $1,253,000 after purchasing an additional 116 shares during the period. Finally, Nicolet Advisory Services LLC boosted its stake in shares of Marvell Technology by 3.1% in the fourth quarter. Nicolet Advisory Services LLC now owns 3,916 shares of the semiconductor company's stock valued at $448,000 after buying an additional 118 shares during the period. 83.51% of the stock is currently owned by institutional investors.

Insider Transactions at Marvell Technology

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the business's stock in a transaction 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 approximately $5,993,431.50. The trade was a 6.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Panteha Dixon sold 1,283 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $68.50, for a total transaction of $87,885.50. Following the sale, the chief accounting officer directly owned 29,572 shares of the company's stock, valued at approximately $2,025,682. The trade was a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,394 shares of company stock worth $1,656,076. Insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MRVL shares. Bank of America boosted their price target on Marvell Technology from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. Piper Sandler restated an "overweight" rating and set a $85.00 price objective (down from $95.00) on shares of Marvell Technology in a research report on Friday, May 30th. TD Cowen upped their price objective on Marvell Technology from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Loop Capital dropped their target price on shares of Marvell Technology from $110.00 to $90.00 and set a "buy" rating for the company in a report on Friday, May 30th. Finally, Morgan Stanley increased their target price on shares of Marvell Technology from $70.00 to $73.00 and gave the stock an "equal weight" rating in a report on Friday, May 30th. Six research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Marvell Technology presently has a consensus rating of "Moderate Buy" and an average price target of $96.33.

Marvell Technology Trading Up 2.3%

MRVL stock traded up $1.68 during mid-day trading on Tuesday, reaching $73.23. The company's stock had a trading volume of 3,283,711 shares, compared to its average volume of 15,668,308. The business's 50 day moving average price is $66.80 and its 200 day moving average price is $81.24. The company has a market cap of $63.26 billion, a price-to-earnings ratio of -128.42, a price-to-earnings-growth ratio of 0.81 and a beta of 1.81. 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 12 month low of $47.09 and a 12 month high of $127.48.

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

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, July 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.33%. Marvell Technology's dividend payout ratio is -42.11%.

About Marvell Technology

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.