AdvisorNet Financial Inc Has $828,000 Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

view original post

AdvisorNet Financial Inc trimmed its position in Marvell Technology, Inc. (NASDAQ:MRVLGet Rating) by 7.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,014 shares of the semiconductor company’s stock after selling 1,484 shares during the period. AdvisorNet Financial Inc’s holdings in Marvell Technology were worth $828,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Covestor Ltd acquired a new stake in Marvell Technology during the 4th quarter worth approximately $28,000. MUFG Americas Holdings Corp raised its holdings in Marvell Technology by 90.2% during the 1st quarter. MUFG Americas Holdings Corp now owns 369 shares of the semiconductor company’s stock worth $26,000 after buying an additional 175 shares during the period. SOA Wealth Advisors LLC. acquired a new stake in Marvell Technology during the 1st quarter worth approximately $32,000. Atticus Wealth Management LLC raised its holdings in Marvell Technology by 62.2% during the 1st quarter. Atticus Wealth Management LLC now owns 459 shares of the semiconductor company’s stock worth $33,000 after buying an additional 176 shares during the period. Finally, Mystic Asset Management Inc. acquired a new stake in Marvell Technology during the 4th quarter worth approximately $41,000. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MRVL. Citigroup dropped their target price on shares of Marvell Technology from $78.00 to $74.00 and set a “buy” rating on the stock in a report on Monday, August 29th. Craig Hallum lowered their price objective on shares of Marvell Technology to $90.00 in a report on Friday, May 27th. Cowen lowered their price objective on shares of Marvell Technology from $100.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday, May 27th. B. Riley downgraded shares of Marvell Technology from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $75.00 to $63.00 in a report on Wednesday, June 15th. Finally, Exane BNP Paribas assumed coverage on shares of Marvell Technology in a report on Tuesday, September 13th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $81.21.

Insider Transactions at Marvell Technology

In other news, EVP Mitchell Gaynor sold 5,000 shares of Marvell Technology stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $47.75, for a total transaction of $238,750.00. Following the completion of the sale, the executive vice president now owns 108,429 shares of the company’s stock, valued at $5,177,484.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Dan Christman sold 14,000 shares of Marvell Technology stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $57.28, for a total transaction of $801,920.00. Following the completion of the sale, the executive vice president now owns 92,203 shares of the company’s stock, valued at $5,281,387.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mitchell Gaynor sold 5,000 shares of Marvell Technology stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $47.75, for a total value of $238,750.00. Following the sale, the executive vice president now directly owns 108,429 shares of the company’s stock, valued at approximately $5,177,484.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,000 shares of company stock valued at $1,279,020. 0.45% of the stock is currently owned by corporate insiders.

Marvell Technology Trading Down 0.7 %

MRVL stock opened at $46.35 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.35 and a quick ratio of 0.93. The company has a fifty day moving average price of $51.02 and a two-hundred day moving average price of $56.01. Marvell Technology, Inc. has a one year low of $41.07 and a one year high of $93.85. The stock has a market cap of $39.52 billion, a price-to-earnings ratio of -178.27, a price-to-earnings-growth ratio of 1.89 and a beta of 1.51.

Marvell Technology (NASDAQ:MRVLGet Rating) last released its quarterly earnings data on Thursday, August 25th. The semiconductor company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. Marvell Technology had a negative net margin of 3.95% and a positive return on equity of 7.94%. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the previous year, the business posted $0.21 earnings per share. The company’s revenue for the quarter was up 41.0% compared to the same quarter last year. Equities analysts anticipate that Marvell Technology, Inc. will post 1.61 EPS for the current year.

Marvell Technology Company Profile

(Get Rating)

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

Receive News & Ratings for Marvell Technology Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Marvell Technology and related companies with MarketBeat.com’s FREE daily email newsletter.

Related Posts