TKG Advisors LLC cut its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL – Get Rating) by 13.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,420 shares of the semiconductor company's stock after selling 1,558 shares during the quarter. TKG Advisors LLC's holdings in Marvell Technology were worth $454,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. MUFG Americas Holdings Corp increased its position in shares of Marvell Technology by 90.2% in the 1st quarter. MUFG Americas Holdings Corp now owns 369 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 175 shares during the last quarter. Covestor Ltd purchased a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $28,000. SOA Wealth Advisors LLC. purchased a new stake in shares of Marvell Technology in the 1st quarter valued at approximately $32,000. Atticus Wealth Management LLC grew its position in shares of Marvell Technology by 62.2% in the 1st quarter. Atticus Wealth Management LLC now owns 459 shares of the semiconductor company's stock valued at $33,000 after buying an additional 176 shares during the last quarter. Finally, Hoey Investments Inc. purchased a new position in shares of Marvell Technology in the 1st quarter valued at $36,000. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MRVL has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Marvell Technology from $75.00 to $65.00 in a research report on Wednesday, July 20th. Craig Hallum dropped their target price on shares of Marvell Technology to $90.00 in a research report on Friday, May 27th. Raymond James reissued a "buy" rating and set a $80.00 price objective on shares of Marvell Technology in a research 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 stock from $75.00 to $63.00 in a research report on Wednesday, June 15th. Finally, Bank of America raised their price objective on shares of Marvell Technology from $60.00 to $65.00 in a research report on Sunday, August 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have given a buy rating to the stock. According to data from MarketBeat.com, Marvell Technology presently has an average rating of "Moderate Buy" and an average price target of $81.21.

Marvell Technology Trading Down 4.3 %

Marvell Technology (NASDAQ:MRVL – Get Rating) last released its earnings results on Thursday, August 25th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $1.52 billion. During the same period in the previous year, the firm earned $0.21 earnings per share. Marvell Technology's revenue was up 41.0% compared to the same quarter last year. Equities research analysts expect that Marvell Technology, Inc. will post 1.61 earnings per share for the current fiscal year.

Insider Activity at Marvell Technology

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

About Marvell Technology

(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

• Get a free copy of the StockNews.com research report on Marvell Technology (MRVL)
• What Steelcase's Earnings Say About the Return to the Office?
• The Institutions Hold On To Darden Restaurants International
• Is The Golden Age Of Homebuilding Already Over?
• These 3 Big Dividend Payers Also Boast Strong Price Growth
• Natural Gas Prices Continue To Rally, These Stocks Should Benefit

Want to see what other hedge funds are holding MRVL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marvell Technology, Inc. (NASDAQ:MRVL – Get Rating).

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.