Marvell Technology, Inc. $MRVL Shares Newly Bought by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL – Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,571 shares of the semiconductor company’s stock, valued at approximately $1,472,000.

Several other large investors have also bought and sold shares of MRVL. 626 Financial LLC purchased a new stake in shares of Marvell Technology during the third quarter valued at approximately $352,000. Lido Advisors LLC bought a new stake in shares of Marvell Technology during the third quarter valued at approximately $17,145,000. Keybank National Association OH purchased a new position in Marvell Technology in the 3rd quarter worth approximately $5,527,000. Cornerstone Wealth Management LLC purchased a new position in Marvell Technology in the 3rd quarter worth approximately $3,169,000. Finally, Csenge Advisory Group purchased a new position in Marvell Technology in the 3rd quarter worth approximately $1,521,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating on shares of Marvell Technology in a research report on Tuesday, August 25th. TD Cowen lowered Marvell Technology from a “buy” rating to a “hold” rating and reduced their target price for the stock from $350.00 to $175.00 in a report on Tuesday, November 3rd. Rosenblatt Securities reissued a “buy” rating and issued a $300.00 target price on shares of Marvell Technology in a report on Friday, October 30th. Needham & Company LLC decreased their price target on Marvell Technology from $400.00 to $300.00 and set a “buy” rating for the company in a research note on Tuesday, November 3rd. Finally, Wells Fargo & Company lowered their price target on Marvell Technology from $365.00 to $285.00 and set an “overweight” rating on the stock in a report on Tuesday, November 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $300.09.

Read Our Latest Analysis on MRVL

Marvell Technology Stock Performance

Shares of MRVL stock opened at $168.80 on Thursday. The company has a 50 day moving average price of $231.09 and a 200-day moving average price of $185.39. Marvell Technology, Inc. has a 52 week low of $70.68 and a 52 week high of $329.88. The firm has a market capitalization of $148.02 billion, a PE ratio of 55.71, a P/E/G ratio of 4.61 and a beta of 2.32. The company has a quick ratio of 2.62, a current ratio of 3.17 and a debt-to-equity ratio of 0.27.

Marvell Technology (NASDAQ:MRVL – Get Free Report) last released its quarterly earnings data on Thursday, August 27th. The semiconductor company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.01. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.72 billion. Marvell Technology had a net margin of 27.93% and a return on equity of 13.57%. The firm’s quarterly revenue was up 36.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 earnings per share. Marvell Technology has set its Q3 2027 guidance at 1.050-1.150 EPS. As a group, equities research analysts expect that Marvell Technology, Inc. will post 3.05 earnings per share for the current year.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 29th. Shareholders of record on Friday, October 9th 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, October 9th. Marvell Technology’s payout ratio is 7.92%.

Insider Activity at Marvell Technology

In other news, insider Sandeep Bharathi sold 3,685 shares of the stock in a transaction on Friday, October 16th. The stock was sold at an average price of $234.97, for a total transaction of $865,864.45. Following the transaction, the insider directly owned 58,748 shares of the company’s stock, valued at $13,804,017.56. This represents a 5.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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, CAO Justin Scarpulla sold 1,100 shares of the firm’s stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $273.59, for a total value of $300,949.00. Following the completion of the transaction, the chief accounting officer owned 909 shares in the company, valued at approximately $248,693.31. This trade represents a 54.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 57,285 shares of company stock worth $12,901,763. Company insiders own 0.12% of the company’s stock.

Latest Marvell Technology News

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Marvell Technology Company Profile

(Free Report)

Marvell Technology is a fabless semiconductor company that develops data infrastructure chips and related technologies. Its products include networking and Ethernet chips, storage controllers, processors, optical and connectivity solutions, and custom silicon used in data centers, carrier networks, enterprise systems, and other applications. The company’s products help move, store, process, and secure data across cloud and telecommunications infrastructure. Marvell serves customers around the world, including equipment makers and technology companies that incorporate its semiconductors into their systems.

Further Reading

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

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