Danica Pension Livsforsikringsaktieselskab bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 181,040 shares of the semiconductor company’s stock, valued at approximately $53,930,000. Marvell Technology comprises about 0.9% of Danica Pension Livsforsikringsaktieselskab’s holdings, making the stock its 27th biggest position.
A number of other hedge funds have also added to or reduced their stakes in the stock. Artemis Wealth Advisors LLC purchased a new stake in shares of Marvell Technology during the 2nd quarter valued at about $300,000. Diversify Advisory Services LLC purchased a new stake in shares of Marvell Technology in the second quarter worth $29,370,000. Gables Capital Management Inc. bought a new stake in shares of Marvell Technology during the 2nd quarter valued at $60,000. Wealthfront Advisers LLC raised its holdings in Marvell Technology by 64.2% during the second quarter. Wealthfront Advisers LLC now owns 125,070 shares of the semiconductor company’s stock valued at $37,257,000 after acquiring an additional 48,897 shares during the period. Finally, First National Bank of Omaha lifted its position in shares of Marvell Technology by 2.1% in the second quarter. First National Bank of Omaha now owns 116,746 shares of the semiconductor company’s stock valued at $32,716,000 after acquiring an additional 2,398 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.
Marvell Technology Trading Up 5.8%
Shares of MRVL opened at $251.01 on Friday. The company’s fifty day moving average is $234.59 and its 200 day moving average is $170.57. Marvell Technology, Inc. has a fifty-two week low of $61.44 and a fifty-two week high of $329.88. The stock has a market capitalization of $219.58 billion, a PE ratio of 85.96, a P/E/G ratio of 1.48 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 Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Shareholders of record on Friday, July 10th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Friday, July 10th. Marvell Technology’s payout ratio is presently 8.22%.
Marvell Technology News Roundup
Here are the key news stories impacting Marvell Technology this week:
- Positive Sentiment: Marvell agreed to develop custom silicon connected to Google’s Tensor Processing Unit ecosystem, including inference accelerators, storage and networking controllers, and memory-interface products. The deal broadens Marvell’s role in Google’s AI infrastructure and could challenge Broadcom’s long-standing position as Google’s primary custom-chip partner. Marvell pops on AI chip deal
- Positive Sentiment: Google received warrants to purchase up to approximately 58.97 million Marvell shares at $206.58 each, potentially representing about 6.7% of shares outstanding and roughly $12.2 billion in value. The warrants vest in stages based on Google’s purchases, aligning Google’s future AI-chip spending with Marvell’s growth. Marvell shares jump as Google warrant deepens partnership
- Positive Sentiment: Analysts described the agreement as a major long-term catalyst. JPMorgan sees a potential $120 billion cumulative opportunity through fiscal 2033, while RBC reaffirmed an Outperform rating with a $360 price target. Stifel and William Blair also issued or maintained Buy recommendations. Marvell’s Google AI deal could unlock opportunity
- Positive Sentiment: Technical momentum also improved after MRVL reclaimed its 50-day moving average, supporting a bullish-trend thesis and forecasts for a possible move toward $300. Marvell overtakes 50-day moving average
Insider Activity
In other Marvell Technology news, insider Sandeep Bharathi sold 2,231 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $299.13, for a total transaction of $667,359.03. Following the transaction, the insider owned 55,530 shares in the company, valued at $16,610,688.90. The trade was a 3.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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, CEO Matthew J. Murphy sold 7,500 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $236.08, for a total transaction of $1,770,600.00. Following the completion of the sale, the chief executive officer directly owned 783,186 shares in the company, valued at approximately $184,894,550.88. This represents a 0.95% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 41,981 shares of company stock valued at $9,753,132 over the last ninety days. 0.12% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several research firms recently issued reports on MRVL. Morgan Stanley increased their target price on Marvell Technology from $172.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 28th. B. Riley Financial reissued a “buy” rating on shares of Marvell Technology in a report on Wednesday. William Blair restated an “outperform” rating on shares of Marvell Technology in a research note on Thursday, May 28th. Bank of America increased their price objective on shares of Marvell Technology from $240.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of Marvell Technology from $195.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $250.27.
View Our Latest Analysis on Marvell Technology
Marvell Technology Company 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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