Newbridge Financial Services Group Inc. Boosts Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Newbridge Financial Services Group Inc. grew its position in Marvell Technology, Inc. (NASDAQ:MRVLGet Rating) by 7.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,051 shares of the semiconductor company’s stock after acquiring an additional 416 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Marvell Technology were worth $263,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Ambassador Advisors LLC raised its holdings in Marvell Technology by 3.2% in the 4th quarter. Ambassador Advisors LLC now owns 4,854 shares of the semiconductor company’s stock valued at $424,000 after acquiring an additional 151 shares during the last quarter. TCI Wealth Advisors Inc. raised its stake in Marvell Technology by 40.9% during the 1st quarter. TCI Wealth Advisors Inc. now owns 572 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 166 shares in the last quarter. MUFG Americas Holdings Corp grew its position 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 purchasing an additional 175 shares during the last quarter. Atticus Wealth Management LLC grew its position 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 purchasing an additional 176 shares during the last quarter. Finally, Clearstead Advisors LLC boosted its holdings in shares of Marvell Technology by 35.4% in the first quarter. Clearstead Advisors LLC now owns 689 shares of the semiconductor company’s stock valued at $49,000 after acquiring an additional 180 shares in the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Mitchell Gaynor sold 5,000 shares of the company’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $47.67, for a total value of $238,350.00. Following the completion of the sale, the executive vice president now directly owns 115,563 shares of the company’s stock, valued at approximately $5,508,888.21. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Mitchell Gaynor sold 5,000 shares of the stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $47.67, for a total transaction of $238,350.00. Following the completion of the sale, the executive vice president now directly owns 115,563 shares of the company’s stock, valued at approximately $5,508,888.21. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Dan Christman sold 14,000 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $57.28, for a total value of $801,920.00. Following the sale, the executive vice president now directly owns 92,203 shares of the company’s stock, valued at $5,281,387.84. The disclosure for this sale can be found here. In the last three months, insiders sold 24,000 shares of company stock valued at $1,279,020. 0.45% of the stock is currently owned by insiders.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL traded down $0.90 on Friday, hitting $42.62. The stock had a trading volume of 605,185 shares, compared to its average volume of 10,725,321. Marvell Technology, Inc. has a twelve month low of $41.07 and a twelve month high of $93.85. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.93 and a current ratio of 1.35. The firm’s 50 day moving average price is $50.95 and its 200-day moving average price is $55.56. The company has a market capitalization of $36.34 billion, a price-to-earnings ratio of -164.54, a price-to-earnings-growth ratio of 1.85 and a beta of 1.51.

Marvell Technology (NASDAQ:MRVLGet Rating) last issued its quarterly earnings results on Thursday, August 25th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.01. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.52 billion. Marvell Technology had a negative net margin of 3.95% and a positive return on equity of 7.94%. The firm’s quarterly revenue was up 41.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 EPS. On average, equities research analysts predict that Marvell Technology, Inc. will post 1.61 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on MRVL shares. Cowen cut their price objective on shares of Marvell Technology from $100.00 to $85.00 in a research report on Friday, May 27th. B. Riley lowered shares of Marvell Technology from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $75.00 to $63.00 in a research report on Wednesday, June 15th. Needham & Company LLC decreased their price objective on shares of Marvell Technology from $105.00 to $75.00 in a research note on Friday, May 27th. Exane BNP Paribas began coverage on shares of Marvell Technology in a research note on Tuesday, September 13th. They set an “outperform” rating for the company. Finally, BMO Capital Markets decreased their price objective on shares of Marvell Technology from $98.00 to $82.00 in a research note on Friday, May 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $81.21.

Marvell Technology Company Profile

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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.

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

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