Magnetar Financial LLC Sells 64,947 Shares of Marvell Technology, Inc. $MRVL

Magnetar Financial LLC lessened its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 36.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,137 shares of the semiconductor company’s stock after selling 64,947 shares during the period. Magnetar Financial LLC’s holdings in Marvell Technology were worth $8,757,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MRVL. Nuveen LLC bought a new position in Marvell Technology in the first quarter valued at approximately $399,587,000. Goldman Sachs Group Inc. increased its position in shares of Marvell Technology by 32.3% during the first quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company’s stock worth $1,272,117,000 after acquiring an additional 5,050,159 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Marvell Technology by 662.9% during the first quarter. AQR Capital Management LLC now owns 3,119,855 shares of the semiconductor company’s stock worth $187,566,000 after acquiring an additional 2,710,894 shares during the period. Nordea Investment Management AB raised its holdings in shares of Marvell Technology by 48.3% during the second quarter. Nordea Investment Management AB now owns 7,195,669 shares of the semiconductor company’s stock worth $555,650,000 after acquiring an additional 2,344,245 shares during the period. Finally, DnB Asset Management AS lifted its position in Marvell Technology by 1,167.6% in the 1st quarter. DnB Asset Management AS now owns 2,015,860 shares of the semiconductor company’s stock valued at $124,116,000 after acquiring an additional 1,856,833 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Chris Koopmans acquired 6,800 shares of the firm’s stock in a transaction dated Thursday, September 25th. The stock was bought at an average price of $78.03 per share, with a total value of $530,604.00. Following the transaction, the chief operating officer directly owned 104,825 shares in the company, valued at approximately $8,179,494.75. The trade was a 6.94% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes acquired 3,400 shares of the stock in a transaction dated Thursday, September 25th. The shares were purchased at an average price of $78.03 per share, for a total transaction of $265,302.00. Following the completion of the purchase, the chief financial officer directly owned 132,159 shares in the company, valued at $10,312,366.77. The trade was a 2.64% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have bought 27,200 shares of company stock worth $2,109,632. 0.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Oppenheimer increased their target price on Marvell Technology from $95.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. TD Cowen reaffirmed a “hold” rating and set a $85.00 price objective (down from $90.00) on shares of Marvell Technology in a research report on Wednesday, October 1st. Benchmark reiterated a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a report on Friday, August 29th. Cowen lowered Marvell Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Finally, JPMorgan Chase & Co. cut their target price on Marvell Technology from $130.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, August 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $94.23.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL opened at $76.68 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.44 and a current ratio of 1.88. The stock has a 50 day moving average price of $84.34 and a 200 day moving average price of $75.04. The stock has a market capitalization of $66.11 billion, a PE ratio of -589.85, a price-to-earnings-growth ratio of 1.10 and a beta of 1.95. Marvell Technology, Inc. has a 52 week low of $47.08 and a 52 week high of $127.48.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. Marvell Technology had a positive return on equity of 11.01% and a negative net margin of 1.43%.The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the firm earned $0.30 EPS. The business’s quarterly revenue was up 57.6% on a year-over-year basis. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. Analysts predict that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology announced that its board has initiated a share buyback plan on Wednesday, September 24th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the semiconductor company to repurchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 30th. Shareholders of record on Friday, October 10th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Friday, October 10th. Marvell Technology’s dividend payout ratio is -184.62%.

Marvell Technology Company 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.