Canada Post Corp Registered Pension Plan bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL – Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 21,000 shares of the semiconductor company’s stock, valued at approximately $6,256,000.
Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank acquired a new position in Marvell Technology during the fourth quarter valued at approximately $895,455,000. Rafferty Asset Management LLC increased its holdings in Marvell Technology by 111.0% in the second quarter. Rafferty Asset Management LLC now owns 5,810,359 shares of the semiconductor company’s stock valued at $449,722,000 after purchasing an additional 3,056,808 shares during the period. Capital Research Global Investors raised its position in shares of Marvell Technology by 177.9% during the fourth quarter. Capital Research Global Investors now owns 4,551,249 shares of the semiconductor company’s stock worth $386,765,000 after acquiring an additional 2,913,368 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Marvell Technology by 397.3% in the 4th quarter. AQR Capital Management LLC now owns 2,172,943 shares of the semiconductor company’s stock worth $184,657,000 after purchasing an additional 1,736,006 shares during the period. Finally, State Street Corp lifted its holdings in Marvell Technology by 7.9% in the fourth quarter. State Street Corp now owns 22,834,816 shares of the semiconductor company’s stock valued at $1,940,503,000 after buying an additional 1,677,724 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.
Marvell Technology Price Performance
Shares of NASDAQ MRVL opened at $222.02 on Friday. The stock has a market cap of $194.22 billion, a price-to-earnings ratio of 76.03, a PEG ratio of 1.39 and a beta of 2.24. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.66 and a current ratio of 3.28. Marvell Technology, Inc. has a fifty-two week low of $61.44 and a fifty-two week high of $329.88. The firm’s 50-day simple moving average is $237.59 and its 200 day simple moving average is $165.67.
Marvell Technology Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Friday, July 10th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Friday, July 10th. Marvell Technology’s dividend payout ratio is presently 8.22%.
Insider Activity at Marvell Technology
In related news, COO Chris Koopmans sold 10,000 shares of Marvell Technology stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $180.50, for a total value of $1,805,000.00. Following the completion of the sale, the chief operating officer owned 227,941 shares of the company’s stock, valued at approximately $41,143,350.50. This trade represents a 4.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sandeep Bharathi sold 2,231 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $299.13, for a total value of $667,359.03. Following the sale, the insider owned 55,530 shares in the company, valued at approximately $16,610,688.90. This represents a 3.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last three months, insiders sold 34,481 shares of company stock valued at $7,982,532. 0.12% of the stock is owned by insiders.
Analysts Set New Price Targets
Several research firms recently commented on MRVL. Scotiabank began coverage on Marvell Technology in a research note on Tuesday, May 26th. They set an “outperform” rating for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $240.00 target price on shares of Marvell Technology in a research report on Friday, June 12th. Evercore reaffirmed an “outperform” rating and set a $155.00 price target on shares of Marvell Technology in a research note on Tuesday, May 19th. Bank of America increased their price target on Marvell Technology from $240.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $240.00 price objective on shares of Marvell Technology in a research note on Thursday, May 28th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $245.94.
Check Out Our Latest Analysis on Marvell Technology
Key Marvell Technology News
Here are the key news stories impacting Marvell Technology this week:
- Positive Sentiment: AI data-center demand supports the long-term outlook. Analysts and investors continue to highlight Marvell’s custom chips, optical networking, memory interconnects and high-speed data-movement products as key beneficiaries of expanding AI clusters. Management has also raised its long-term data-center growth outlook. Down 37% From Its Highs, Is Marvell Technology Stock a Buy on the Dip?
- Positive Sentiment: Wall Street price targets imply additional upside. Goldman Sachs has expressed a preference between Marvell and Nvidia ahead of earnings, while another report said Goldman analyst James Schneider raised Marvell’s 12-month price target. The broader analyst range remains bullish, with a reported median target of $250 and several targets between $300 and $385. Wall Street sets Marvell stock price for the next 12 months
- Positive Sentiment: Nvidia’s $2 billion investment remains a strategic vote of confidence. The investment strengthens Marvell’s profile as an AI-chip and infrastructure partner and is supporting comparisons between the two companies ahead of their earnings reports. NVIDIA Invested $2 Billion in Marvell
- Neutral Sentiment: Upcoming earnings are the immediate catalyst. Marvell’s latest quarter delivered $2.42 billion in revenue, up 27.6% year over year, and adjusted EPS in line with expectations. Investors will look for evidence that AI-related growth can justify the stock’s elevated valuation.
- Negative Sentiment: Insider selling may temper sentiment. QuiverQuant reported 21 insider sales and no purchases during the past six months, including sales by senior executives and the CEO. This does not necessarily signal weakening fundamentals, but it can raise caution after a major share-price advance. Marvell Technology Stock Opinions on AI Infrastructure Expansion
Marvell Technology Profile
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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