Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. lowered its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 8.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 40,356 shares of the semiconductor company's stock after selling 3,671 shares during the quarter. Stanley Laman Group Ltd.'s holdings in Marvell Technology were worth $2,485,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Intrepid Financial Planning Group LLC grew 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 purchasing an additional 90 shares during the period. PDS Planning Inc raised its holdings in shares of Marvell Technology by 3.3% during the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock worth $319,000 after acquiring an additional 92 shares during the period. Lodestone Wealth Management LLC raised its stake in Marvell Technology by 2.0% during the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company's stock worth $514,000 after purchasing an additional 93 shares during the period. Private Trust Co. NA raised its position in shares of Marvell Technology by 2.7% during the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock valued at $414,000 after buying an additional 97 shares during the period. Finally, Tradewinds LLC. lifted its stake in shares of 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 last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Insider Activity

In related news, COO Chris Koopmans sold 6,000 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $412,980.00. Following the completion of the sale, the chief operating officer now owns 81,931 shares in the company, valued at $5,639,310.73. This represents a 6.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Casper sold 12,460 shares of the firm's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $685,300.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,541 shares of company stock worth $2,079,948. Corporate insiders own 0.19% of the company's stock.

Marvell Technology Stock Down 3.5%

Marvell Technology stock traded down $2.45 during midday trading on Friday, reaching $67.19. The company's stock had a trading volume of 14,146,733 shares, compared to its average volume of 14,765,209. The company has a market cap of $58.04 billion, a P/E ratio of -39.52, a P/E/G ratio of 1.61 and a beta of 1.76. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The business has a 50-day simple moving average of $60.30 and a 200-day simple moving average of $85.17. Marvell Technology, Inc. has a fifty-two week low of $47.09 and a fifty-two week 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 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 the consensus estimate of $1.88 billion. Marvell Technology had a positive return on equity of 4.59% and a negative net margin of 27.49%. The business's revenue for the quarter was up 63.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.24 EPS. On average, research analysts expect 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. Stockholders of record on Friday, July 11th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.36%. Marvell Technology's payout ratio is -42.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Loop Capital reduced their price target on shares of Marvell Technology from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. China Renaissance began coverage on Marvell Technology in a research report on Thursday, June 5th. They issued a "buy" rating and a $110.00 target price on the stock. Citigroup decreased their price target on Marvell Technology from $122.00 to $96.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Raymond James reaffirmed an "outperform" rating and issued a $90.00 price objective (down from $110.00) on shares of Marvell Technology in a research note on Friday, May 30th. Finally, Stifel Nicolaus decreased their target price on Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $94.73.

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.