Danica Pension Livsforsikringsaktieselskab Sells 632,069 Shares of Marvell Technology, Inc. $MRVL

Danica Pension Livsforsikringsaktieselskab trimmed its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVLFree Report) by 67.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 304,532 shares of the semiconductor company’s stock after selling 632,069 shares during the quarter. Danica Pension Livsforsikringsaktieselskab’s holdings in Marvell Technology were worth $30,164,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Mayflower Financial Advisors LLC raised its position in Marvell Technology by 1.7% during the first quarter. Mayflower Financial Advisors LLC now owns 4,109 shares of the semiconductor company’s stock valued at $407,000 after purchasing an additional 68 shares during the period. Bell Investment Advisors Inc boosted its holdings in shares of Marvell Technology by 12.9% in the 1st quarter. Bell Investment Advisors Inc now owns 628 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 72 shares during the period. World Equity Group Inc. increased its position in shares of Marvell Technology by 2.1% during the 1st quarter. World Equity Group Inc. now owns 3,919 shares of the semiconductor company’s stock valued at $388,000 after purchasing an additional 80 shares during the last quarter. Schear Investment Advisers LLC increased its position in shares of Marvell Technology by 1.4% during the 1st quarter. Schear Investment Advisers LLC now owns 7,551 shares of the semiconductor company’s stock valued at $748,000 after purchasing an additional 106 shares during the last quarter. Finally, Enterprise Financial Services Corp raised its holdings in Marvell Technology by 3.5% during the 1st quarter. Enterprise Financial Services Corp now owns 3,188 shares of the semiconductor company’s stock valued at $316,000 after buying an additional 107 shares during the period. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Performance

MRVL stock opened at $207.96 on Wednesday. The company has a quick ratio of 2.66, a current ratio of 3.28 and a debt-to-equity ratio of 0.27. The business’s fifty day simple moving average is $241.88 and its two-hundred day simple moving average is $151.14. Marvell Technology, Inc. has a twelve month low of $61.44 and a twelve month high of $329.88. The firm has a market cap of $181.92 billion, a price-to-earnings ratio of 71.22, a PEG ratio of 1.28 and a beta of 2.20.

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

Marvell Technology Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, July 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.1%. Marvell Technology’s dividend payout ratio (DPR) is presently 8.22%.

Key Stories Impacting Marvell Technology

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

Analysts Set New Price Targets

MRVL has been the subject of a number of analyst reports. Evercore restated an “outperform” rating and issued a $155.00 price target on shares of Marvell Technology in a research report on Tuesday, May 19th. Erste Group Bank cut shares of Marvell Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Loop Capital upgraded shares of Marvell Technology to a “strong-buy” rating in a report on Tuesday, June 16th. HSBC set a $300.00 target price on shares of Marvell Technology and gave the stock a “buy” rating in a report on Tuesday, May 26th. Finally, Bank of America lifted their price target on shares of Marvell Technology from $240.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average target price of $245.45.

Read Our Latest Research Report on Marvell Technology

Insider Buying and Selling

In other news, CFO Daniel Durn sold 2,250 shares of Marvell Technology stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $281.01, for a total transaction of $632,272.50. Following the completion of the sale, the chief financial officer owned 6,902 shares of the company’s stock, valued at approximately $1,939,531.02. The trade was a 24.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Willem A. Meintjes sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $175.24, for a total value of $700,960.00. Following the completion of the sale, the chief financial officer owned 226,675 shares of the company’s stock, valued at $39,722,527. The trade was a 1.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 45,981 shares of company stock worth $9,835,542 over the last 90 days. Corporate insiders own 0.12% of the company’s stock.

Marvell Technology 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.

Further Reading

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

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