Catalyst Capital Advisors LLC Sells 152 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Catalyst Capital Advisors LLC decreased its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 18.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 677 shares of the semiconductor company’s stock after selling 152 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Marvell Technology were worth $49,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of MRVL. Lazard Asset Management LLC raised its position in Marvell Technology by 47,934.4% in the 1st quarter. Lazard Asset Management LLC now owns 4,001,745 shares of the semiconductor company’s stock valued at $283,643,000 after purchasing an additional 3,993,414 shares during the last quarter. Whale Rock Capital Management LLC acquired a new stake in shares of Marvell Technology in the 1st quarter valued at $181,559,000. Ameriprise Financial Inc. increased its stake in shares of Marvell Technology by 24.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after buying an additional 2,254,610 shares during the period. Swedbank AB increased its stake in shares of Marvell Technology by 653.5% in the 2nd quarter. Swedbank AB now owns 2,334,015 shares of the semiconductor company’s stock valued at $163,148,000 after buying an additional 2,024,269 shares during the period. Finally, Janus Henderson Group PLC increased its stake in shares of Marvell Technology by 13.4% in the 1st quarter. Janus Henderson Group PLC now owns 13,478,472 shares of the semiconductor company’s stock valued at $955,400,000 after buying an additional 1,591,874 shares during the period. Institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $80.77, for a total transaction of $484,620.00. Following the transaction, the executive vice president now owns 109,244 shares of the company’s stock, valued at $8,823,637.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $80.77, for a total transaction of $484,620.00. Following the transaction, the executive vice president now owns 109,244 shares of the company’s stock, valued at $8,823,637.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $66.75, for a total value of $100,125.00. Following the transaction, the chief financial officer now directly owns 113,253 shares in the company, valued at approximately $7,559,637.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 261,000 shares of company stock worth $20,330,835. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

Shares of Marvell Technology stock opened at $90.63 on Thursday. Marvell Technology, Inc. has a one year low of $50.35 and a one year high of $91.71. The firm has a market cap of $80.32 billion, a price-to-earnings ratio of -81.65, a price-to-earnings-growth ratio of 3.67 and a beta of 1.44. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. The stock’s 50-day moving average is $76.04 and its 200-day moving average is $71.49.

Marvell Technology (NASDAQ:MRVL) last released its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The business 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 company posted $0.18 earnings per share. Marvell Technology’s revenue was down 5.1% on a year-over-year basis. Equities analysts predict that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, October 11th. This represents a $0.24 annualized dividend and a yield of 0.26%. Marvell Technology’s payout ratio is presently -21.62%.

Wall Street Analysts Forecast Growth

MRVL has been the subject of several research reports. Evercore ISI lifted their target price on Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Citigroup reissued a “buy” rating and issued a $91.00 target price on shares of Marvell Technology in a research note on Monday, October 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. Finally, TD Cowen raised Marvell Technology to a “strong-buy” rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, one has given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $91.62.

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.