Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Rothschild & Co. Asset Management US Inc.

Rothschild & Co. Asset Management US Inc. decreased its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVLGet Rating) by 22.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 112,952 shares of the semiconductor company’s stock after selling 32,130 shares during the period. Rothschild & Co. Asset Management US Inc.’s holdings in Marvell Technology were worth $8,100,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MRVL. MUFG Americas Holdings Corp increased its stake in Marvell Technology by 90.2% during the 1st quarter. MUFG Americas Holdings Corp now owns 369 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 175 shares during the period. Pittenger & Anderson Inc. acquired a new position in Marvell Technology during the 4th quarter valued at about $27,000. Covestor Ltd acquired a new position in Marvell Technology during the 4th quarter valued at about $28,000. SOA Wealth Advisors LLC. acquired a new position in Marvell Technology during the 1st quarter valued at about $32,000. Finally, Atticus Wealth Management LLC increased its stake in Marvell Technology by 62.2% during the 1st quarter. Atticus Wealth Management LLC now owns 459 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 176 shares during the period. Institutional investors and hedge funds own 80.95% of the company’s stock.

Insider Activity at Marvell Technology

In related news, EVP Mitchell Gaynor sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $47.67, for a total transaction of $238,350.00. Following the transaction, the executive vice president now owns 115,563 shares of the company’s stock, valued at $5,508,888.21. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Mitchell Gaynor sold 5,000 shares of Marvell Technology stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $47.67, for a total value of $238,350.00. Following the transaction, the executive vice president now owns 115,563 shares of the company’s stock, valued at $5,508,888.21. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Dan Christman sold 14,000 shares of Marvell Technology stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $57.28, for a total transaction of $801,920.00. Following the completion of the transaction, the executive vice president now directly owns 92,203 shares in the company, valued at approximately $5,281,387.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,000 shares of company stock valued at $1,284,270. 0.45% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MRVL. Cowen reduced their price objective on shares of Marvell Technology from $100.00 to $85.00 in a research report on Friday, May 27th. Cowen reduced their price objective on shares of Marvell Technology from $100.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, May 27th. Bank of America raised their price objective on shares of Marvell Technology from $60.00 to $65.00 in a research report on Sunday, August 28th. KeyCorp reduced their price objective on shares of Marvell Technology from $90.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, August 26th. Finally, Benchmark began coverage on shares of Marvell Technology in a research report on Wednesday, August 3rd. They set a “buy” rating and a $70.00 price objective for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.93.

Marvell Technology Trading Up 3.0 %

Shares of MRVL opened at $48.15 on Friday. The firm’s 50 day moving average price is $50.54 and its 200 day moving average price is $56.87. The company has a quick ratio of 0.93, a current ratio of 1.35 and a debt-to-equity ratio of 0.25. Marvell Technology, Inc. has a twelve month low of $41.07 and a twelve month high of $93.85.

Marvell Technology (NASDAQ:MRVLGet Rating) last issued its quarterly earnings data on Thursday, August 25th. The semiconductor company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.01. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.52 billion. Marvell Technology had a negative net margin of 3.95% and a positive return on equity of 7.94%. The company’s revenue for the quarter was up 41.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 earnings per share. As a group, equities research analysts forecast that Marvell Technology, Inc. will post 1.61 EPS for the current year.

About Marvell Technology

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Marvell Technology, Inc, together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors.

Further Reading

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

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