Resonant Capital Advisors LLC Takes $219,000 Position in Marvell Technology, Inc. $MRVL

Resonant Capital Advisors LLC acquired a new position in Marvell Technology, Inc. (NASDAQ:MRVLFree Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,211 shares of the semiconductor company’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC raised its stake in shares of Marvell Technology by 978.3% during the first quarter. Hilton Head Capital Partners LLC now owns 248 shares of the semiconductor company’s stock worth $25,000 after buying an additional 225 shares during the last quarter. Jessup Wealth Management Inc acquired a new stake in Marvell Technology during the 4th quarter worth $25,000. Laurel Wealth Advisors LLC acquired a new stake in Marvell Technology during the 4th quarter worth $25,000. Cherry Tree Wealth Management LLC bought a new stake in shares of Marvell Technology during the 4th quarter valued at $26,000. Finally, MidFirst Bank acquired a new position in shares of Marvell Technology in the 4th quarter valued at $28,000. 83.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MRVL. Oppenheimer lifted their price objective on Marvell Technology from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. HSBC set a $300.00 target price on Marvell Technology and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Wall Street Zen downgraded shares of Marvell Technology from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. Wells Fargo & Company lifted their price objective on shares of Marvell Technology from $195.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Finally, TD Cowen increased their price target on Marvell Technology from $180.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, May 28th. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and a consensus target price of $244.97.

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More Marvell Technology News

Here are the key news stories impacting Marvell Technology this week:

Insider Activity

In other news, insider Sandeep Bharathi sold 66,892 shares of the stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $130.35, for a total value of $8,719,372.20. Following the completion of the sale, the insider owned 55,199 shares of the company’s stock, valued at approximately $7,195,189.65. This represents a 54.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Chris Koopmans sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $281.92, for a total transaction of $2,819,200.00. Following the completion of the transaction, the chief operating officer directly owned 227,754 shares of the company’s stock, valued at $64,208,407.68. This represents a 4.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 160,373 shares of company stock valued at $24,938,664. Corporate insiders own 0.12% of the company’s stock.

Marvell Technology Stock Performance

Shares of MRVL opened at $243.27 on Friday. The stock has a market capitalization of $212.81 billion, a price-to-earnings ratio of 83.31, a PEG ratio of 1.52 and a beta of 2.20. Marvell Technology, Inc. has a 12 month low of $61.44 and a 12 month high of $329.88. The firm has a fifty day simple moving average of $235.20 and a 200 day simple moving average of $144.29. The company has a current ratio of 3.28, a quick ratio of 2.66 and a debt-to-equity ratio of 0.27.

Marvell Technology (NASDAQ:MRVLGet Free Report) last issued its quarterly earnings results on Wednesday, May 27th. The semiconductor company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. Marvell Technology had a net margin of 28.99% and a return on equity of 13.83%. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the business earned $0.62 EPS. The company’s revenue was up 27.6% compared to the same quarter last year. Marvell Technology has set its Q2 2027 guidance at 0.880-0.980 EPS. Research analysts forecast that Marvell Technology, Inc. will post 3.07 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Friday, July 10th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.1%. The ex-dividend date is Friday, July 10th. Marvell Technology’s dividend payout ratio is presently 8.22%.

Marvell Technology Company Profile

(Free Report)

Marvell Technology Group is a global semiconductor company that designs and develops integrated circuits and related software for data infrastructure, networking, storage and connectivity markets. The company’s product portfolio includes system-on-chip (SoC) solutions, Ethernet physical-layer transceivers (PHYs), switch and switch silicon, optical interconnect components, storage controllers, and security processors. Marvell’s technology is used to enable high-performance data centers, carrier networks, enterprise and cloud storage, as well as connectivity in automotive and industrial applications.

Founded in 1995 and headquartered in Santa Clara, California, Marvell has grown through both organic development and strategic acquisitions to broaden its capabilities across networking and data interconnect.

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

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