Segall Bryant & Hamill LLC Sells 250,356 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Segall Bryant & Hamill LLC trimmed its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 58.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 178,019 shares of the semiconductor company's stock after selling 250,356 shares during the quarter. Segall Bryant & Hamill LLC's holdings in Marvell Technology were worth $10,961,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of MRVL. Kornitzer Capital Management Inc. KS grew its holdings in shares of Marvell Technology by 111.6% during the first quarter. Kornitzer Capital Management Inc. KS now owns 21,541 shares of the semiconductor company's stock valued at $1,326,000 after buying an additional 11,360 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Marvell Technology by 348.1% during the first quarter. Larson Financial Group LLC now owns 1,192 shares of the semiconductor company's stock valued at $73,000 after buying an additional 926 shares during the last quarter. Wealthfront Advisers LLC lifted its position in shares of Marvell Technology by 61.0% during the first quarter. Wealthfront Advisers LLC now owns 79,291 shares of the semiconductor company's stock valued at $4,882,000 after purchasing an additional 30,034 shares in the last quarter. Whittier Trust Co. lifted its position in shares of Marvell Technology by 49.4% during the first quarter. Whittier Trust Co. now owns 665 shares of the semiconductor company's stock valued at $41,000 after purchasing an additional 220 shares in the last quarter. Finally, TimesSquare Capital Management LLC lifted its position in shares of Marvell Technology by 3.7% during the first quarter. TimesSquare Capital Management LLC now owns 543,290 shares of the semiconductor company's stock valued at $33,450,000 after purchasing an additional 19,300 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Marvell Technology

In other news, CAO Panteha Dixon sold 1,283 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $68.50, for a total value of $87,885.50. Following the completion of the sale, the chief accounting officer owned 29,572 shares of the company's stock, valued at approximately $2,025,682. This represents a 4.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Casper sold 626 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $61.10, for a total transaction of $38,248.60. Following the sale, the executive vice president owned 626 shares of the company's stock, valued at $38,248.60. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,394 shares of company stock worth $1,656,076 over the last 90 days. Company insiders own 0.19% of the company's stock.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL traded up $2.64 during midday trading on Friday, hitting $74.65. The company's stock had a trading volume of 16,898,439 shares, compared to its average volume of 15,882,724. The stock has a fifty day moving average price of $68.81 and a 200 day moving average price of $79.37. Marvell Technology, Inc. has a one year low of $47.09 and a one year high of $127.48. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $64.48 billion, a price-to-earnings ratio of -130.96, a P/E/G ratio of 0.77 and a beta of 1.81.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the firm posted $0.24 EPS. Marvell Technology's revenue was up 63.3% on a year-over-year basis. On average, research analysts forecast that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.32%. Marvell Technology's dividend payout ratio (DPR) is -42.11%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Needham & Company LLC lowered shares of Marvell Technology from a "buy" rating to a "cautious" rating in a research report on Wednesday. Evercore ISI dropped their price target on shares of Marvell Technology from $135.00 to $133.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th. Benchmark reissued a "buy" rating and set a $95.00 price target on shares of Marvell Technology in a research report on Wednesday, June 18th. TD Cowen raised their price target on shares of Marvell Technology from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Finally, Bank of America raised their price target on shares of Marvell Technology from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.