Crossmark Global Holdings Inc. Has $432,000 Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Crossmark Global Holdings Inc. cut its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 17.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,983 shares of the semiconductor company’s stock after selling 1,238 shares during the period. Crossmark Global Holdings Inc.’s holdings in Marvell Technology were worth $432,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Marvell Technology during the second quarter worth about $32,000. Strategic Investment Solutions Inc. IL bought a new position in Marvell Technology in the second quarter valued at $32,000. Whittier Trust Co. increased its stake in Marvell Technology by 74.5% in the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 210 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in Marvell Technology by 125.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock worth $44,000 after buying an additional 336 shares in the last quarter. Finally, Unique Wealth Strategies LLC bought a new stake in Marvell Technology during the 2nd quarter worth about $45,000. Institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on MRVL shares. Piper Sandler reaffirmed an “overweight” rating and issued a $100.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. Bank of America boosted their price target on Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Benchmark increased their price objective on Marvell Technology from $105.00 to $115.00 and gave the company a “buy” rating in a report on Friday, August 30th. Loop Capital began coverage on shares of Marvell Technology in a report on Monday, November 11th. They set a “hold” rating and a $95.00 target price on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 price target on shares of Marvell Technology in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average target price of $91.77.

Marvell Technology Trading Down 3.2 %

Shares of Marvell Technology stock opened at $87.83 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. The firm has a 50-day moving average of $78.89 and a 200-day moving average of $72.74. Marvell Technology, Inc. has a 52-week low of $50.35 and a 52-week high of $95.09. The stock has a market cap of $77.83 billion, a PE ratio of -79.13, a PEG ratio of 3.91 and a beta of 1.44.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the business posted $0.18 EPS. The business’s revenue was down 5.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were given a dividend of $0.06 per share. The ex-dividend date was Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.27%. Marvell Technology’s payout ratio is -21.62%.

Insider Transactions at Marvell Technology

In other Marvell Technology news, Director Ford Tamer sold 92,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $74.16, for a total transaction of $6,822,720.00. Following the completion of the sale, the director now directly owns 351,193 shares in the company, valued at $26,044,472.88. This represents a 20.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $80.77, for a total value of $484,620.00. Following the completion of the sale, the executive vice president now directly owns 109,244 shares in the company, valued at approximately $8,823,637.88. This represents a 5.21 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 259,500 shares of company stock valued at $20,230,710. 0.33% of the stock is owned by corporate insiders.

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.