Marvell Technology, Inc. $MRVL Shares Acquired by Bleakley Financial Group LLC

Bleakley Financial Group LLC increased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVLFree Report) by 30.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,854 shares of the semiconductor company’s stock after purchasing an additional 4,411 shares during the quarter. Bleakley Financial Group LLC’s holdings in Marvell Technology were worth $1,867,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MRVL. Mayflower Financial Advisors LLC lifted its position in shares of Marvell Technology by 1.7% in the 1st quarter. Mayflower Financial Advisors LLC now owns 4,109 shares of the semiconductor company’s stock worth $407,000 after buying an additional 68 shares during the last quarter. 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 valued at $62,000 after buying an additional 72 shares during the period. Schear Investment Advisers LLC grew 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 buying an additional 106 shares during the last quarter. Thoma Capital Management LLC grew its position in shares of Marvell Technology by 1.3% during the 1st quarter. Thoma Capital Management LLC now owns 8,711 shares of the semiconductor company’s stock valued at $863,000 after buying an additional 114 shares during the last quarter. Finally, Pittenger & Anderson Inc. raised its stake in Marvell Technology by 61.5% during the first quarter. Pittenger & Anderson Inc. now owns 315 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 120 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In related news, COO Chris Koopmans sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $281.92, for a total transaction of $2,819,200.00. Following the completion of the transaction, the chief operating officer owned 227,754 shares of the company’s stock, valued at $64,208,407.68. This trade represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Durn sold 2,250 shares of Marvell Technology stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $281.01, for a total value of $632,272.50. Following the transaction, the chief financial officer directly owned 6,902 shares in the company, valued at approximately $1,939,531.02. The trade was a 24.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 45,981 shares of company stock worth $9,835,542 in the last quarter. Company insiders own 0.12% of the company’s stock.

Marvell Technology Stock Down 8.7%

Marvell Technology stock opened at $188.30 on Friday. Marvell Technology, Inc. has a 52 week low of $61.44 and a 52 week high of $329.88. The stock has a market cap of $164.72 billion, a price-to-earnings ratio of 64.49, a PEG ratio of 1.35 and a beta of 2.20. The company’s 50-day moving average price is $240.15 and its two-hundred day moving average price is $148.79. The company has a current ratio of 3.28, a quick ratio of 2.66 and a debt-to-equity ratio of 0.27.

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

Marvell Technology Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Loop Capital raised shares of Marvell Technology to a “strong-buy” rating in a report on Tuesday, June 16th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $360.00 target price on shares of Marvell Technology in a report on Tuesday, July 7th. UBS Group increased their price target on Marvell Technology from $230.00 to $340.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Evercore reissued an “outperform” rating and issued a $155.00 price target on shares of Marvell Technology in a report on Tuesday, May 19th. Finally, Jefferies Financial Group boosted their price objective on Marvell Technology from $149.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $245.45.

Check Out Our Latest Analysis on Marvell Technology

Key Marvell Technology News

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

About Marvell Technology

(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.

Recommended Stories

Want to see what other hedge funds are holding MRVL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marvell Technology, Inc. (NASDAQ:MRVLFree Report).

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

Receive News & Ratings for Marvell Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marvell Technology and related companies with MarketBeat.com's FREE daily email newsletter.