Tandem Capital Management Corp ADV Trims Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Tandem Capital Management Corp ADV decreased its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 9.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,180 shares of the semiconductor company’s stock after selling 3,819 shares during the period. Marvell Technology accounts for 1.4% of Tandem Capital Management Corp ADV’s investment portfolio, making the stock its 24th biggest position. Tandem Capital Management Corp ADV’s holdings in Marvell Technology were worth $2,494,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. Dakota Wealth Management lifted its stake in shares of Marvell Technology by 2.8% during the third quarter. Dakota Wealth Management now owns 12,646 shares of the semiconductor company’s stock valued at $912,000 after buying an additional 343 shares during the period. Zweig DiMenna Associates LLC grew its position in shares of Marvell Technology by 2.0% in the third quarter. Zweig DiMenna Associates LLC now owns 200,821 shares of the semiconductor company’s stock valued at $14,483,000 after purchasing an additional 3,850 shares during the period. Assenagon Asset Management S.A. increased its stake in Marvell Technology by 16.8% in the third quarter. Assenagon Asset Management S.A. now owns 1,766,927 shares of the semiconductor company’s stock valued at $127,431,000 after purchasing an additional 254,088 shares during the last quarter. Hoertkorn Richard Charles purchased a new stake in Marvell Technology in the 3rd quarter valued at about $20,459,000. Finally, Hennion & Walsh Asset Management Inc. increased its stake in shares of Marvell Technology by 7.1% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 12,377 shares of the semiconductor company’s stock valued at $893,000 after acquiring an additional 816 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Stock Performance

MRVL stock traded up $0.39 during mid-day trading on Friday, reaching $82.32. 213,763 shares of the stock traded hands, compared to its average volume of 12,237,016. Marvell Technology, Inc. has a 52 week low of $46.07 and a 52 week high of $85.76. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average of $73.42 and a two-hundred day moving average of $70.50.

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. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. Marvell Technology’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.18 earnings per share. On average, research analysts predict that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The company 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 is Friday, October 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.29%. Marvell Technology’s dividend payout ratio is presently -21.62%.

Insider Transactions at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Chris Koopmans sold 6,000 shares of the firm’s 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 completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $66.75, for a total transaction of $100,125.00. Following the completion of the sale, the chief financial officer now owns 113,253 shares of the company’s stock, valued at $7,559,637.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 261,000 shares of company stock valued at $20,330,835. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. TD Cowen raised shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, September 16th. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price target on shares of Marvell Technology in a research note on Friday, August 30th. Roth Mkm reiterated a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Stifel Nicolaus restated a “buy” rating and issued a $95.00 price target (up previously from $90.00) on shares of Marvell Technology in a report on Friday, August 30th. Finally, Benchmark boosted their price objective on shares of Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. One investment 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.