Tradewinds LLC. Has $1.01 Million Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Tradewinds LLC. grew its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 19.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,949 shares of the semiconductor company’s stock after acquiring an additional 2,264 shares during the period. Tradewinds LLC.’s holdings in Marvell Technology were worth $1,006,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Strategic Investment Solutions Inc. IL acquired a new position in shares of Marvell Technology during the second quarter worth approximately $32,000. Quarry LP bought a new position in shares of Marvell Technology in the second quarter valued at $32,000. Whittier Trust Co. increased its position in shares of Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 210 shares in the last quarter. Briaud Financial Planning Inc acquired a new stake in shares of Marvell Technology in the 3rd quarter worth about $43,000. Finally, Exchange Traded Concepts LLC lifted its position in Marvell Technology by 125.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 336 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $73.87, for a total transaction of $110,805.00. Following the transaction, the chief financial officer now directly owns 111,753 shares in the company, valued at $8,255,194.11. This trade represents a 1.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ford Tamer sold 92,000 shares of Marvell Technology stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $74.16, for a total value of $6,822,720.00. Following the completion of the transaction, the director now directly owns 351,193 shares in the company, valued at $26,044,472.88. This trade represents a 20.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 267,000 shares of company stock valued at $20,899,260 over the last quarter. 0.33% of the stock is owned by corporate insiders.

Marvell Technology Price Performance

MRVL stock opened at $89.86 on Thursday. The company’s 50 day moving average is $79.94 and its 200 day moving average is $73.22. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. Marvell Technology, Inc. has a 1-year low of $50.35 and a 1-year high of $95.09.

Marvell Technology (NASDAQ:MRVL) last posted 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. 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 analysts’ expectations of $1.25 billion. During the same quarter last year, the company posted $0.18 EPS. The business’s quarterly revenue was down 5.1% on a year-over-year basis. Analysts expect that Marvell Technology, Inc. will post 0.78 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have commented on MRVL. Needham & Company LLC reissued a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a report on Friday, August 30th. Evercore ISI raised their price objective on Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. StockNews.com lowered shares of Marvell Technology from a “hold” rating to a “sell” rating in a research note on Friday, October 18th. The Goldman Sachs Group boosted their target price on Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Stifel Nicolaus restated a “buy” rating and set a $95.00 price target (up previously from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $91.77.

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.