Sierra Summit Advisors LLC acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL – Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 94,925 shares of the semiconductor company’s stock, valued at approximately $9,402,000.
A number of other institutional investors have also recently bought and sold shares of MRVL. Intech Investment Management LLC grew its stake in shares of Marvell Technology by 3.9% during the first quarter. Intech Investment Management LLC now owns 28,784 shares of the semiconductor company’s stock worth $1,772,000 after purchasing an additional 1,085 shares during the period. Baird Financial Group Inc. increased its holdings in Marvell Technology by 22.7% in the second quarter. Baird Financial Group Inc. now owns 17,417 shares of the semiconductor company’s stock valued at $1,348,000 after purchasing an additional 3,221 shares during the last quarter. Flow Traders U.S. LLC bought a new stake in Marvell Technology in the second quarter valued at about $354,000. Treasurer of the State of North Carolina lifted its stake in Marvell Technology by 3.0% in the second quarter. Treasurer of the State of North Carolina now owns 403,818 shares of the semiconductor company’s stock valued at $31,256,000 after buying an additional 11,572 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in Marvell Technology by 1.0% in the second quarter. Alliancebernstein L.P. now owns 411,569 shares of the semiconductor company’s stock valued at $31,855,000 after buying an additional 4,060 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.
Marvell Technology Stock Down 9.8%
Shares of Marvell Technology stock opened at $245.29 on Friday. Marvell Technology, Inc. has a 1 year low of $61.44 and a 1 year high of $329.88. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.28 and a quick ratio of 2.66. The company has a market capitalization of $214.58 billion, a P/E ratio of 84.00, a price-to-earnings-growth ratio of 1.78 and a beta of 2.20. The business has a 50-day moving average of $227.17 and a two-hundred day moving average of $138.79.
Marvell Technology Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Friday, July 10th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Friday, July 10th. Marvell Technology’s dividend payout ratio is 8.22%.
Analysts Set New Price Targets
Several research firms have recently issued reports on MRVL. Benchmark boosted their target price on Marvell Technology from $130.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Loop Capital upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Tuesday, June 16th. Raymond James Financial set a $235.00 price target on shares of Marvell Technology and gave the company a “strong-buy” rating in a research report on Thursday, May 28th. HSBC set a $300.00 price objective on shares of Marvell Technology and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Finally, B. Riley Financial upped their target price on shares of Marvell Technology from $240.00 to $345.00 and gave the company a “buy” rating in a research note on Friday, June 12th. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $239.81.
View Our Latest Analysis on MRVL
Key Marvell Technology News
Here are the key news stories impacting Marvell Technology this week:
- Positive Sentiment: Recent commentary remains constructive on Marvell’s role in AI infrastructure, especially custom silicon, optics, and data-center connectivity, which continues to support the long-term growth story. Marvell Technology (MRVL) Gains from AI-Related Infrastructure Demand
- Positive Sentiment: Marvell has also drawn bullish coverage from several analysts and market commentators after strong quarterly results, reinforcing expectations for continued AI-related demand. MRVL Rallies 154% in 3 Months: Time to Hold or Fold the Stock?
- Neutral Sentiment: COO Chris Koopmans sold 10,000 shares under a pre-arranged 10b5-1 plan, which is routine but may still add some caution near recent highs. SEC Form 4 Filing
- Negative Sentiment: Several reports noted Marvell easing in premarket trade as investors took profits in high-growth semiconductor names amid softer market sentiment. Chip stocks selloff extends on valuation, Meta’s pivot fears
- Negative Sentiment: Some recent articles questioned whether MRVL’s valuation has gotten ahead of fundamentals after its huge rally, creating pressure if momentum slows. Marvell (MRVL) Stock Looks Overvalued On Earnings But Strong On Returns
Insider Buying and Selling
In other news, EVP Mark Casper sold 10,000 shares of the stock in a transaction on Friday, April 17th. The shares were sold at an average price of $135.50, for a total transaction of $1,355,000.00. Following the completion of the sale, the executive vice president owned 35,878 shares of the company’s stock, valued at $4,861,469. This represents a 21.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sandeep Bharathi sold 66,892 shares of the business’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $130.35, for a total transaction of $8,719,372.20. Following the completion of the sale, the insider directly owned 55,199 shares in the company, valued at $7,195,189.65. This represents a 54.79% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 177,273 shares of company stock valued at $26,796,269. 0.12% of the stock is owned by corporate insiders.
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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