ABN Amro Investment Solutions Has $14.99 Million Holdings in Marvell Technology, Inc. $MRVL

ABN Amro Investment Solutions cut its stake in Marvell Technology, Inc. (NASDAQ:MRVLFree Report) by 2.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 151,374 shares of the semiconductor company’s stock after selling 3,045 shares during the period. ABN Amro Investment Solutions’ holdings in Marvell Technology were worth $14,994,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Intech Investment Management LLC lifted its position in 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 period. Baird Financial Group Inc. increased its holdings in Marvell Technology by 22.7% in the 2nd quarter. Baird Financial Group Inc. now owns 17,417 shares of the semiconductor company’s stock valued at $1,348,000 after buying an additional 3,221 shares during the period. Flow Traders U.S. LLC acquired a new position in shares of Marvell Technology in the 2nd quarter valued at $354,000. Treasurer of the State of North Carolina raised its stake in shares of Marvell Technology by 3.0% in the 2nd quarter. Treasurer of the State of North Carolina now owns 403,818 shares of the semiconductor company’s stock valued at $31,256,000 after buying an additional 11,572 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Marvell Technology by 1.0% during the 2nd quarter. Alliancebernstein L.P. now owns 411,569 shares of the semiconductor company’s stock worth $31,855,000 after acquiring an additional 4,060 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, COO Chris Koopmans sold 10,000 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $281.92, for a total value of $2,819,200.00. Following the transaction, the chief operating officer owned 227,754 shares of the company’s stock, valued at approximately $64,208,407.68. The trade was a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Willem A. Meintjes sold 4,000 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $175.24, for a total value of $700,960.00. Following the sale, the chief financial officer owned 226,675 shares in the company, 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. Company insiders own 0.12% of the company’s stock.

Key Headlines Impacting Marvell Technology

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

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. William Blair reiterated an “outperform” rating on shares of Marvell Technology in a research report on Thursday, May 28th. Bank of America increased their price target on shares of Marvell Technology from $240.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Oppenheimer lifted their price objective on Marvell Technology from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, May 28th. HSBC set a $300.00 price objective on Marvell Technology and gave the company a “buy” rating in a research note on Tuesday, May 26th. Finally, Raymond James Financial set a $235.00 target price on Marvell Technology and gave the stock a “strong-buy” rating in a report on Thursday, May 28th. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $245.45.

Check Out Our Latest Stock Report on Marvell Technology

Marvell Technology Trading Up 6.7%

Shares of MRVL stock opened at $207.96 on Wednesday. Marvell Technology, Inc. has a 12-month low of $61.44 and a 12-month high of $329.88. The company has a market capitalization of $181.92 billion, a P/E ratio of 71.22, a P/E/G ratio of 1.28 and a beta of 2.20. The firm has a 50-day moving average price of $241.88 and a 200 day moving average price of $151.14. The company has a quick ratio of 2.66, a current ratio of 3.28 and a debt-to-equity ratio of 0.27.

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

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Investors 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 dividend on an annualized basis and a yield of 0.1%. Marvell Technology’s dividend payout ratio is 8.22%.

Marvell Technology Company 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.

See Also

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

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