Capstone Triton Financial Group LLC Has $1.64 Million Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Capstone Triton Financial Group LLC trimmed its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,786 shares of the semiconductor company’s stock after selling 135 shares during the period. Capstone Triton Financial Group LLC’s holdings in Marvell Technology were worth $1,643,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MRVL. Pathway Financial Advisers LLC boosted its position in shares of Marvell Technology by 3.7% in the third quarter. Pathway Financial Advisers LLC now owns 15,146 shares of the semiconductor company’s stock valued at $1,092,000 after acquiring an additional 545 shares during the period. WD Rutherford LLC raised its stake in Marvell Technology by 182.5% during the third quarter. WD Rutherford LLC now owns 18,266 shares of the semiconductor company’s stock worth $1,317,000 after acquiring an additional 11,801 shares in the last quarter. Adell Harriman & Carpenter Inc. increased its stake in shares of Marvell Technology by 42.5% in the third quarter. Adell Harriman & Carpenter Inc. now owns 111,471 shares of the semiconductor company’s stock valued at $8,039,000 after buying an additional 33,223 shares during the period. Deltec Asset Management LLC boosted its holdings in Marvell Technology by 3.0% in the third quarter. Deltec Asset Management LLC now owns 122,205 shares of the semiconductor company’s stock valued at $8,813,000 after acquiring an additional 3,524 shares during the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in Marvell Technology in the third quarter valued at approximately $273,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MRVL has been the topic of a number of research analyst reports. Morgan Stanley increased their price target on Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. Roth Mkm reaffirmed a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. Stifel Nicolaus restated a “buy” rating and issued a $95.00 price objective (up from $90.00) on shares of Marvell Technology in a research note on Friday, August 30th. Citigroup restated a “buy” rating and issued a $91.00 price objective on shares of Marvell Technology in a research note on Monday, October 14th. Finally, The Goldman Sachs Group lifted their target price on Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.62.

Marvell Technology Trading Down 1.0 %

MRVL stock traded down $0.83 during midday trading on Wednesday, hitting $84.04. The company had a trading volume of 1,512,579 shares, compared to its average volume of 12,180,321. 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, Inc. has a 52 week low of $46.07 and a 52 week high of $85.76. The stock’s 50 day moving average price is $74.22 and its 200 day moving average price is $70.73. The stock has a market cap of $74.48 billion, a price-to-earnings ratio of -76.46, a PEG ratio of 3.55 and a beta of 1.45.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. The company 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 revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 earnings per share. As a group, equities research analysts expect that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.29%. Marvell Technology’s dividend payout ratio is currently -21.62%.

Insider Transactions at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at $8,823,637.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the transaction, the executive vice president now owns 109,244 shares of the company’s stock, valued at approximately $8,823,637.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $120,750.00. Following the completion of the transaction, the chief financial officer now directly owns 110,253 shares in the company, valued at $8,875,366.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 261,000 shares of company stock valued at $20,330,835. Insiders own 0.33% of the company’s stock.

About Marvell Technology

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.