Meeder Asset Management Inc. Sells 7,170 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Meeder Asset Management Inc. lessened its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 93.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 534 shares of the semiconductor company’s stock after selling 7,170 shares during the period. Meeder Asset Management Inc.’s holdings in Marvell Technology were worth $39,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MRVL. Whalen Wealth Management Inc. lifted its position in Marvell Technology by 21.6% during the 3rd quarter. Whalen Wealth Management Inc. now owns 11,826 shares of the semiconductor company’s stock valued at $853,000 after purchasing an additional 2,097 shares during the period. Belmont Capital LLC bought a new position in shares of Marvell Technology in the third quarter worth $1,082,000. Strengthening Families & Communities LLC grew its position in Marvell Technology by 8.8% in the third quarter. Strengthening Families & Communities LLC now owns 33,428 shares of the semiconductor company’s stock valued at $2,411,000 after acquiring an additional 2,717 shares during the last quarter. Braun Stacey Associates Inc. acquired a new position in shares of Marvell Technology in the third quarter worth approximately $16,435,000. Finally, Atlanta Consulting Group Advisors LLC bought a new stake in Marvell Technology in the third quarter worth approximately $272,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the transaction, the chief financial officer now owns 114,211 shares in the company, valued at $10,180,768.54. The trade was a 1.30 % 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, Director Ford Tamer sold 92,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $74.16, for a total value of $6,822,720.00. Following the completion of the sale, the director now owns 351,193 shares in the company, valued at approximately $26,044,472.88. This represents a 20.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 267,000 shares of company stock worth $20,899,260 over the last quarter. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 price target on shares of Marvell Technology in a report on Friday, August 30th. StockNews.com cut Marvell Technology from a “hold” rating to a “sell” rating in a report on Friday, October 18th. Benchmark upped their target price on Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. The Goldman Sachs Group increased their price objective on Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, Citigroup restated a “buy” rating and set a $91.00 price target on shares of Marvell Technology in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.77.

Marvell Technology Stock Up 0.6 %

NASDAQ:MRVL opened at $89.86 on Thursday. Marvell Technology, Inc. has a twelve month low of $50.35 and a twelve month high of $95.09. The company has a market cap of $79.63 billion, a price-to-earnings ratio of -80.95, a price-to-earnings-growth ratio of 3.82 and a beta of 1.44. The stock has a fifty day simple moving average of $79.94 and a 200-day simple moving average of $73.22. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 earnings per share. Analysts anticipate that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were issued a $0.06 dividend. The ex-dividend date was Friday, October 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.27%. Marvell Technology’s payout ratio is currently -21.62%.

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.