Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Mendel Money Management

Mendel Money Management decreased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,890 shares of the semiconductor company’s stock after selling 475 shares during the period. Marvell Technology makes up about 1.4% of Mendel Money Management’s holdings, making the stock its 27th biggest position. Mendel Money Management’s holdings in Marvell Technology were worth $2,210,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JustInvest LLC boosted its stake in shares of Marvell Technology by 34.2% during the 2nd quarter. JustInvest LLC now owns 11,146 shares of the semiconductor company’s stock worth $650,000 after acquiring an additional 2,842 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Marvell Technology during the 2nd quarter worth approximately $135,000. Greenleaf Trust boosted its stake in shares of Marvell Technology by 10.5% during the 2nd quarter. Greenleaf Trust now owns 6,056 shares of the semiconductor company’s stock worth $353,000 after acquiring an additional 575 shares in the last quarter. Cresset Asset Management LLC purchased a new stake in shares of Marvell Technology during the 2nd quarter worth approximately $547,000. Finally, AGF Investments Inc. purchased a new stake in shares of Marvell Technology during the 2nd quarter worth approximately $961,000. Institutional investors own 84.98% of the company’s stock.

NASDAQ:MRVL traded down $0.85 on Friday, reaching $62.40. The stock had a trading volume of 155,744 shares, compared to its average volume of 8,580,743. The company has a current ratio of 1.50, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average of $59.90 and a 200 day moving average of $52.57. The stock has a market cap of $51.39 billion, a P/E ratio of -131.77, a price-to-earnings-growth ratio of 3.23 and a beta of 1.07. Marvell Technology, Inc. has a 12-month low of $35.30 and a 12-month high of $64.07.

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

In other news, CEO Matthew J. Murphy sold 20,000 shares of the stock in a transaction dated Thursday, July 15th. The shares were sold at an average price of $55.92, for a total transaction of $1,118,400.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael G. Strachan sold 5,000 shares of the stock in a transaction dated Friday, September 10th. The stock was sold at an average price of $61.86, for a total transaction of $309,300.00. The disclosure for this sale can be found here. Insiders have sold 45,150 shares of company stock worth $2,620,125 in the last ninety days. Corporate insiders own 0.33% of the company’s stock.

A number of equities research analysts recently issued reports on the company. Evercore ISI upped their target price on Marvell Technology from $55.00 to $63.00 and gave the company an “outperform” rating in a research note on Tuesday, June 8th. Craig Hallum lowered Marvell Technology from a “buy” rating to a “hold” rating and set a $63.00 target price on the stock. in a research note on Friday, August 27th. They noted that the move was a valuation call. Rosenblatt Securities increased their price target on Marvell Technology from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, June 8th. Susquehanna Bancshares increased their price target on Marvell Technology from $64.00 to $72.00 and gave the stock a “positive” rating in a research note on Wednesday, August 25th. Finally, Citigroup increased their price target on Marvell Technology from $64.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, August 27th. Five investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $67.38.

Marvell Technology 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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