"Cullen Frost Bankers Inc. Holds a $21.03 Million Position in Marvell Technology"

"Cullen Frost Bankers Inc. Reduces Stake in Marvell Technology Amidst Strong Market Performance

Cullen Frost Bankers Inc. disclosed a 7.7% reduction in its holdings of Marvell Technology, Inc. (NASDAQ: MRVL) during the third quarter, according to its recent filing with the SEC. The bank's fund sold 32,328 shares, leaving them with 388,491 shares by the end of the reporting period, valued at $21,029,000.

Other significant investors have also made adjustments to their positions in the semiconductor company. Lindbrook Capital LLC increased its holdings by 67.6% in the second quarter, owning 429 shares valued at $26,000. Octavia Wealth Advisors LLC and Deseret Mutual Benefit Administrators also raised their stakes during the same period. Trifecta Capital Advisors LLC increased its holdings in the third quarter by 17.7%, and Whittier Trust Co. raised its position by 59.9%.

Insider Activity and Stock Performance:

In related news, EVP Chris Koopmans sold 5,000 shares on November 15th at an average price of $57.33, totaling $286,650. Following the sale, Koopmans holds 129,492 shares valued at $7,423,776.36. Additionally, CEO Matthew J. Murphy sold 30,000 shares on January 16th at an average price of $65.59, totaling $1,967,700. Following the sale, Murphy owns 792,929 shares valued at $52,008,213.11. Over the last three months, insiders collectively sold 200,000 shares valued at $11,988,040, representing 0.45% of the company's stock.

Marvell Technology's stock experienced a 4.3% increase and traded at $68.16 on Thursday, with a trading volume of 12,814,954 shares. The company's fifty-day moving average is $57.93, and the 200-day moving average is $57.12. Marvell Technology has a market cap of $58.92 billion, a PE ratio of -105.89, and a beta of 1.52.

Earnings and Dividend Announcement:

Marvell Technology reported earnings of $0.41 per share for the last quarter, beating the consensus estimate by $0.01. The company's quarterly revenue was $1.42 billion, exceeding the consensus estimate of $1.40 billion. Analysts project an EPS of 0.85 for the current fiscal year.

The company declared a quarterly dividend, with an ex-dividend date of January 4th. Investors of record on January 5th will receive a dividend of $0.06 per share, resulting in an annualized dividend yield of 0.35%.

Analyst Ratings:

Marvell Technology has been the subject of various research analyst reports. While Evercore ISI reduced its price target to $60.00, Rosenblatt Securities reaffirmed a "buy" rating with a $100.00 price target. According to MarketBeat.com, the consensus rating for Marvell Technology is a "Moderate Buy," with an average price target of $68.88.

Conclusion:

Amidst positive market performance and strong financial results, Cullen Frost Bankers Inc. made adjustments to its holdings in Marvell Technology. The company continues to attract investor attention, with a favorable outlook supported by increased earnings, dividend announcements, and positive analyst ratings."

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