Assetmark Inc. Cuts Stock Position in Marvell Technology, Inc. $MRVL

Assetmark Inc. lessened its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 14.3% in the 3rd quarter, Holdings Channel reports. The fund owned 44,474 shares of the semiconductor company’s stock after selling 7,406 shares during the period. Assetmark Inc.’s holdings in Marvell Technology were worth $3,739,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ellsworth Advisors LLC purchased a new position in shares of Marvell Technology during the 3rd quarter worth $5,864,000. Waterfront Wealth Inc. lifted its position in Marvell Technology by 21.5% during the second quarter. Waterfront Wealth Inc. now owns 18,394 shares of the semiconductor company’s stock worth $1,424,000 after buying an additional 3,258 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in Marvell Technology by 1,292.1% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 389,809 shares of the semiconductor company’s stock worth $32,656,000 after buying an additional 361,807 shares during the last quarter. Norges Bank purchased a new stake in Marvell Technology in the 2nd quarter valued at about $716,713,000. Finally, Triton Financial Group Inc acquired a new position in shares of Marvell Technology during the 2nd quarter valued at about $1,543,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Stifel Nicolaus raised their target price on Marvell Technology from $95.00 to $114.00 and gave the company a “buy” rating in a report on Wednesday, December 3rd. Melius Research upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $135.00 target price on the stock in a research note on Monday, January 5th. Piper Sandler set a $110.00 price objective on Marvell Technology in a research note on Wednesday, December 3rd. Evercore lifted their target price on Marvell Technology from $122.00 to $156.00 and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. Finally, Barclays boosted their price target on shares of Marvell Technology from $80.00 to $105.00 and gave the company an “equal weight” rating in a report on Wednesday, December 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $115.16.

Marvell Technology Trading Up 0.5%

Marvell Technology stock opened at $79.01 on Wednesday. Marvell Technology, Inc. has a 1 year low of $47.08 and a 1 year high of $112.50. The firm’s 50 day moving average price is $82.88 and its two-hundred day moving average price is $81.79. The firm has a market cap of $66.94 billion, a price-to-earnings ratio of 27.72, a price-to-earnings-growth ratio of 0.62 and a beta of 1.97. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 2.01.

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

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 29th. Shareholders of record on Friday, January 9th were paid a $0.06 dividend. The ex-dividend date was Friday, January 9th. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. Marvell Technology’s payout ratio is 8.42%.

Insiders Place Their Bets

In related news, EVP Mark Casper sold 5,000 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $93.08, for a total value of $465,400.00. Following the transaction, the executive vice president owned 19,418 shares in the company, valued at approximately $1,807,427.44. This represents a 20.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.19% of the stock is currently owned by insiders.

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.