Harvey Capital Management Inc. Buys New Stake in Marvell Technology, Inc. $MRVL

Harvey Capital Management Inc. acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 54,480 shares of the semiconductor company’s stock, valued at approximately $4,580,000.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in Marvell Technology by 1.7% during the third quarter. GAMMA Investing LLC now owns 7,306 shares of the semiconductor company’s stock valued at $614,000 after purchasing an additional 122 shares during the last quarter. FSM Wealth Advisors LLC lifted its holdings in shares of Marvell Technology by 4.4% in the 3rd quarter. FSM Wealth Advisors LLC now owns 2,939 shares of the semiconductor company’s stock valued at $247,000 after acquiring an additional 123 shares during the last quarter. Meeder Asset Management Inc. raised its position in Marvell Technology by 30.4% during the third quarter. Meeder Asset Management Inc. now owns 557 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 130 shares during the period. Nations Financial Group Inc. IA ADV lifted its stake in shares of Marvell Technology by 1.8% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 7,353 shares of the semiconductor company’s stock valued at $618,000 after purchasing an additional 133 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Marvell Technology by 6.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,115 shares of the semiconductor company’s stock worth $164,000 after purchasing an additional 137 shares during the period. Institutional investors own 83.51% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Susquehanna set a $120.00 price target on Marvell Technology and gave the company a “positive” rating in a report on Wednesday, December 3rd. Benchmark reissued a “hold” rating on shares of Marvell Technology in a research note on Tuesday, December 23rd. Melius Research upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $135.00 target price for the company in a report on Monday, January 5th. Piper Sandler set a $110.00 price target on shares of Marvell Technology in a report on Wednesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 3rd. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $115.09.

Insider Activity at Marvell Technology

In other news, EVP Mark Casper sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $93.08, for a total value of $465,400.00. Following the completion of the sale, the executive vice president owned 19,418 shares of the company’s stock, valued at approximately $1,807,427.44. This represents a 20.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Trading Down 3.5%

Shares of NASDAQ MRVL opened at $80.23 on Monday. The company has a quick ratio of 1.64, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. The business has a fifty day simple moving average of $85.69 and a two-hundred day simple moving average of $81.17. The firm has a market cap of $68.04 billion, a PE ratio of 28.15, a price-to-earnings-growth ratio of 0.78 and a beta of 1.95. Marvell Technology, Inc. has a twelve month low of $47.08 and a twelve month high of $127.20.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings results on Tuesday, December 2nd. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.06 billion. Marvell Technology had a return on equity of 13.15% and a net margin of 31.75%.The business’s revenue was up 36.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.43 EPS. Marvell Technology has set its Q4 2026 guidance at 0.740-0.840 EPS. Analysts expect that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 29th. Shareholders of record on Friday, January 9th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 9th. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. Marvell Technology’s dividend payout ratio (DPR) is 8.42%.

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.