Winfield Associates Inc. Sells 250 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Winfield Associates Inc. lessened its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,271 shares of the semiconductor company’s stock after selling 250 shares during the quarter. Winfield Associates Inc.’s holdings in Marvell Technology were worth $1,042,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Clearview Wealth Advisors LLC acquired a new position in Marvell Technology during the second quarter valued at approximately $27,000. Deseret Mutual Benefit Administrators acquired a new position in Marvell Technology during the second quarter valued at approximately $28,000. Delta Asset Management LLC TN acquired a new position in Marvell Technology during the second quarter valued at approximately $29,000. Global Wealth Management Investment Advisory Inc. grew its holdings in Marvell Technology by 400.0% during the second quarter. Global Wealth Management Investment Advisory Inc. now owns 500 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 400 shares during the last quarter. Finally, Glassman Wealth Services acquired a new position in Marvell Technology during the second quarter valued at approximately $33,000. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Marvell Technology stock traded up $0.64 on Thursday, reaching $73.86. 4,826,037 shares of the company were exchanged, compared to its average volume of 8,056,434. Marvell Technology, Inc. has a one year low of $37.92 and a one year high of $76.12. The company has a market capitalization of $60.83 billion, a price-to-earnings ratio of -153.88, a PEG ratio of 3.74 and a beta of 1.08. The company has a 50-day moving average of $67.07 and a 200 day moving average of $59.60.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Wednesday, August 25th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Marvell Technology had a positive return on equity of 6.40% and a negative net margin of 10.74%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the business posted $0.21 EPS. Analysts anticipate that Marvell Technology, Inc. will post 0.92 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 27th. Stockholders of record on Monday, October 11th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date was Thursday, October 7th. Marvell Technology’s dividend payout ratio is currently -50.00%.

In related news, EVP Loi Nguyen sold 872 shares of the business’s stock in a transaction that occurred on Tuesday, November 16th. The stock was sold at an average price of $72.68, for a total transaction of $63,376.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Muhammad Raghib Hussain sold 224,957 shares of the company’s stock in a transaction on Monday, November 15th. The shares were sold at an average price of $72.58, for a total value of $16,327,379.06. The disclosure for this sale can be found here. Insiders have sold a total of 270,979 shares of company stock worth $19,273,481 over the last three months. 0.33% of the stock is owned by insiders.

Several brokerages have recently issued reports on MRVL. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Marvell Technology from $70.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, August 27th. Credit Suisse Group lifted their price objective on Marvell Technology from $70.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 7th. Needham & Company LLC lifted their price objective on Marvell Technology from $69.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, October 7th. Zacks Investment Research lowered Marvell Technology from a “buy” rating to a “hold” rating and set a $64.00 price objective for the company. in a research report on Wednesday, September 1st. Finally, UBS Group lifted their price objective on Marvell Technology from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, August 27th. Four analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, Marvell Technology has an average rating of “Buy” and a consensus price target of $75.91.

Marvell Technology Company Profile

Marvell Technology, Inc engages in the provision of data infrastructure semiconductor solutions. It offers compute, networking, storage and custom related solutions. The company was founded in 1995 and is headquartered in Wilmington, DE.

See Also: How to Trade Using Analysts Ratings

Want to see what other hedge funds are holding MRVL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marvell Technology, Inc. (NASDAQ:MRVL).

Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)

Receive News & Ratings for Marvell Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marvell Technology and related companies with MarketBeat.com's FREE daily email newsletter.