CenterBook Partners LP Grows Stock Position in Marvell Technology, Inc. $MRVL

CenterBook Partners LP raised its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 96.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 84,084 shares of the semiconductor company’s stock after buying an additional 41,304 shares during the quarter. CenterBook Partners LP’s holdings in Marvell Technology were worth $7,145,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Intech Investment Management LLC raised its stake in shares of Marvell Technology by 3.9% in 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 last quarter. Baird Financial Group Inc. raised its stake in shares of Marvell Technology by 22.7% in the second quarter. Baird Financial Group Inc. now owns 17,417 shares of the semiconductor company’s stock worth $1,348,000 after purchasing an additional 3,221 shares during the last quarter. Flow Traders U.S. LLC purchased a new position in shares of Marvell Technology in the second quarter worth about $354,000. Treasurer of the State of North Carolina raised its stake in shares of 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 worth $31,256,000 after purchasing an additional 11,572 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Marvell Technology by 1.0% in the second quarter. Alliancebernstein L.P. now owns 411,569 shares of the semiconductor company’s stock worth $31,855,000 after purchasing an additional 4,060 shares during the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Price Performance

Shares of MRVL stock opened at $263.47 on Monday. The stock has a 50 day moving average of $164.84 and a 200 day moving average of $112.76. The company has a current ratio of 3.28, a quick ratio of 2.66 and a debt-to-equity ratio of 0.27. The stock has a market cap of $230.48 billion, a P/E ratio of 90.23, a P/E/G ratio of 1.72 and a beta of 2.29. Marvell Technology, Inc. has a twelve month low of $61.44 and a twelve month high of $324.20.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings results on Wednesday, May 27th. The semiconductor company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Marvell Technology had a return on equity of 13.83% and a net margin of 28.99%.Marvell Technology’s quarterly revenue was up 27.6% on a year-over-year basis. During the same period last year, the business earned $0.62 earnings per share. Marvell Technology has set its Q2 2027 guidance at 0.880-0.980 EPS. As a group, sell-side analysts expect that Marvell Technology, Inc. will post 3.08 EPS for the current year.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Friday, April 10th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.1%. The ex-dividend date was Friday, April 10th. Marvell Technology’s dividend payout ratio (DPR) is currently 8.22%.

Insider Activity at Marvell Technology

In related news, CEO Matthew J. Murphy sold 30,000 shares of Marvell Technology stock in a transaction that occurred on Thursday, March 26th. The stock was sold at an average price of $98.70, for a total transaction of $2,961,000.00. Following the completion of the transaction, the chief executive officer directly owned 310,106 shares in the company, valued at approximately $30,607,462.20. This trade represents a 8.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Chris Koopmans sold 10,000 shares of Marvell Technology stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $110.24, for a total value of $1,102,400.00. Following the transaction, the chief operating officer owned 133,870 shares of the company’s stock, valued at approximately $14,757,828.80. This represents a 6.95% 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. Insiders sold 255,060 shares of company stock valued at $31,959,772 in the last 90 days. 0.12% of the stock is currently owned by corporate insiders.

Trending Headlines about Marvell Technology

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

• Positive Sentiment: Raymond James raised its price target on Marvell to $235 from $105 and reiterated a Strong Buy rating, reflecting continued analyst confidence. Raymond James Raises its Price Target on Marvell (MRVL) to $235 from $105
• Neutral Sentiment: Marvell received unusual call-option activity, which may signal trader interest, but it does not by itself change the fundamental outlook.
• Neutral Sentiment: There was ongoing speculation that Marvell could be added to the S&P 500 in an upcoming index rebalancing, which could provide a passive-fund boost if it happens.
• Negative Sentiment: Broader chip stocks sold off after Broadcom’s outlook disappointed Wall Street, dragging MRVL down with the sector. Micron, Marvell, and Broadcom lead chipmakers’ premarket losses
• Negative Sentiment: Several reports warned that Marvell was overbought after its rapid run-up, making it vulnerable to profit-taking and a momentum unwind. Why Is Marvell Technology Stock Falling On Friday?

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. The Goldman Sachs Group set a $180.00 price objective on Marvell Technology in a research note on Thursday, May 28th. Citigroup raised their price objective on Marvell Technology from $118.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Wall Street Zen cut Marvell Technology from a “buy” rating to a “hold” rating in a research note on Sunday, March 15th. Weiss Ratings restated a “hold (c)” rating on shares of Marvell Technology in a research note on Friday, March 27th. Finally, Roth Mkm raised their price objective on Marvell Technology from $135.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $218.58.

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.