Tandem Capital Management Corp ADV Sells 959 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Tandem Capital Management Corp ADV decreased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 2.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,040 shares of the semiconductor company’s stock after selling 959 shares during the quarter. Marvell Technology makes up approximately 1.4% of Tandem Capital Management Corp ADV’s portfolio, making the stock its 22nd largest holding. Tandem Capital Management Corp ADV’s holdings in Marvell Technology were worth $2,743,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Salomon & Ludwin LLC acquired a new stake in shares of Marvell Technology in the 1st quarter valued at $31,000. Quarry LP acquired a new position in Marvell Technology during the 2nd quarter worth about $32,000. Strategic Investment Solutions Inc. IL acquired a new position in Marvell Technology during the 2nd quarter worth about $32,000. Whittier Trust Co. lifted its position in Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after buying an additional 210 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC acquired a new position in Marvell Technology during the 1st quarter worth about $35,000. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Down 2.4 %

NASDAQ MRVL opened at $82.80 on Thursday. The stock’s 50-day moving average price is $74.22 and its 200-day moving average price is $70.73. The company has a quick ratio of 1.26, a current ratio of 1.79 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 company has a market capitalization of $73.38 billion, a P/E ratio of -74.59, a price-to-earnings-growth ratio of 3.55 and a beta of 1.45.

Marvell Technology (NASDAQ:MRVL) last released its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. The firm 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%. The firm’s revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the business posted $0.18 earnings per share. On average, equities research analysts predict that Marvell Technology, Inc. will post 0.78 earnings per share for the current year.

Marvell Technology Dividend Announcement

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

Insider Buying and Selling

In other news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on 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 directly owns 109,244 shares in the company, valued at approximately $8,823,637.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $66.75, for a total value of $100,125.00. Following the completion of the transaction, the chief financial officer now owns 113,253 shares of the company’s stock, valued at approximately $7,559,637.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the company’s 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 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 261,000 shares of company stock valued at $20,330,835. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a report on Friday, August 30th. Evercore ISI upped their price target on Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. StockNews.com downgraded Marvell Technology from a “hold” rating to a “sell” rating in a report on Friday, October 18th. TD Cowen upgraded Marvell Technology to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price target on shares of Marvell Technology in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Marvell Technology 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.