Jupiter Asset Management Ltd. Sells 1,937 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Jupiter Asset Management Ltd. trimmed its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 18.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,456 shares of the semiconductor company’s stock after selling 1,937 shares during the period. Jupiter Asset Management Ltd.’s holdings in Marvell Technology were worth $493,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Well Done LLC increased its stake in Marvell Technology by 4.5% in the 2nd quarter. Well Done LLC now owns 4,505 shares of the semiconductor company’s stock worth $263,000 after buying an additional 192 shares in the last quarter. Western Wealth Management LLC grew its position in shares of Marvell Technology by 1.7% during the second quarter. Western Wealth Management LLC now owns 11,416 shares of the semiconductor company’s stock valued at $665,000 after purchasing an additional 192 shares in the last quarter. Perigon Wealth Management LLC grew its position in shares of Marvell Technology by 3.7% during the second quarter. Perigon Wealth Management LLC now owns 5,866 shares of the semiconductor company’s stock valued at $342,000 after purchasing an additional 211 shares in the last quarter. Trustcore Financial Services LLC lifted its holdings in shares of Marvell Technology by 46.4% in the 2nd quarter. Trustcore Financial Services LLC now owns 732 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 232 shares during the last quarter. Finally, EPG Wealth Management LLC lifted its holdings in shares of Marvell Technology by 5.1% in the 1st quarter. EPG Wealth Management LLC now owns 4,909 shares of the semiconductor company’s stock valued at $240,000 after acquiring an additional 236 shares during the last quarter. Hedge funds and other institutional investors own 84.98% of the company’s stock.

Several analysts have recently weighed in on MRVL shares. TheStreet raised shares of Marvell Technology from a “c+” rating to a “b-” rating in a research note on Friday, August 27th. Susquehanna reiterated a “buy” rating and set a $72.00 price objective (up from $64.00) on shares of Marvell Technology in a research note on Wednesday, August 25th. Evercore ISI boosted their target price on shares of Marvell Technology from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Tuesday, June 8th. Rosenblatt Securities boosted their target price on shares of Marvell Technology from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, June 8th. Finally, Summit Insights raised shares of Marvell Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, June 8th. Five research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, Marvell Technology has a consensus rating of “Buy” and a consensus target price of $67.38.

In related news, CEO Matthew J. Murphy sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 16th. The stock was sold at an average price of $59.16, for a total transaction of $1,183,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael G. Strachan sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 10th. The shares were sold at an average price of $61.86, for a total value of $309,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 45,150 shares of company stock worth $2,620,125 in the last quarter. 0.33% of the stock is currently owned by company insiders.

Marvell Technology stock opened at $62.30 on Wednesday. Marvell Technology, Inc. has a 52-week low of $35.30 and a 52-week high of $64.07. The firm has a market capitalization of $51.31 billion, a P/E ratio of -129.79, a P/E/G ratio of 3.23 and a beta of 1.07. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.50 and a quick ratio of 1.25. The stock has a fifty day moving average price of $59.65 and a two-hundred day moving average price of $52.43.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Wednesday, August 25th. The semiconductor company reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.03. Marvell Technology had a positive return on equity of 6.40% and a negative net margin of 10.74%. During the same period last year, the business earned $0.21 earnings per share. On average, equities research analysts predict that Marvell Technology, Inc. will post 0.92 EPS for the current fiscal year.

Marvell Technology Company Profile

Marvell Technology, Inc engages in the provision of data infrastructure semiconductor solutions. It offers compute, networking, storage and custom related solutions. The company was founded in 1995 and is headquartered in Wilmington, DE.

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

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