Horizon Investments LLC acquired a new position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 19,995 shares of the semiconductor company's stock, valued at approximately $1,699,000.
A number of other hedge funds also recently added to or reduced their stakes in the business. Trifecta Capital Advisors LLC lifted its stake in Marvell Technology by 8.8% in the third quarter. Trifecta Capital Advisors LLC now owns 1,430 shares of the semiconductor company's stock worth $120,000 after acquiring an additional 116 shares during the period. Faithward Advisors LLC lifted its stake in Marvell Technology by 2.1% in the third quarter. Faithward Advisors LLC now owns 6,242 shares of the semiconductor company's stock worth $525,000 after acquiring an additional 126 shares during the period. Meeder Asset Management Inc. raised its holdings in Marvell Technology by 30.4% in the third quarter. Meeder Asset Management Inc. now owns 557 shares of the semiconductor company's stock worth $47,000 after purchasing an additional 130 shares in the last quarter. South Plains Financial Inc. raised its holdings in Marvell Technology by 1.6% in the third quarter. South Plains Financial Inc. now owns 8,454 shares of the semiconductor company's stock worth $711,000 after purchasing an additional 130 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV raised its holdings in Marvell Technology by 1.8% in the third quarter. Nations Financial Group Inc. IA ADV now owns 7,353 shares of the semiconductor company's stock worth $618,000 after purchasing an additional 133 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.
Marvell Technology News Summary
Here are the key news stories impacting Marvell Technology this week:
Marvell Technology Trading Up 3.2%
Shares of Marvell Technology stock opened at $168.82 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.58. The firm has a fifty day moving average price of $110.46 and a 200 day moving average price of $93.96. Marvell Technology, Inc. has a 1 year low of $53.78 and a 1 year high of $172.98. The stock has a market cap of $147.62 billion, a PE ratio of 54.81, a price-to-earnings-growth ratio of 1.48 and a beta of 2.25.
Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its earnings results on Thursday, March 5th. The semiconductor company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.01. Marvell Technology had a net margin of 32.58% and a return on equity of 14.22%. The firm had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.21 billion. During the same quarter last year, the company posted $0.60 earnings per share. The firm's revenue was up 22.1% compared to the same quarter last year. Marvell Technology has set its Q1 2027 guidance at 0.740-0.840 EPS. Equities research analysts predict that Marvell Technology, Inc. will post 3.04 earnings per share for the current year.
Marvell Technology Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Friday, April 10th were given a $0.06 dividend. 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 is currently 7.79%.
Wall Street Analyst Weigh In
MRVL has been the subject of a number of recent research reports. Benchmark reiterated a "buy" rating and issued a $130.00 target price on shares of Marvell Technology in a report on Tuesday, March 31st. Needham & Company LLC reduced their target price on shares of Marvell Technology from $120.00 to $118.00 and set a "buy" rating for the company in a report on Tuesday, February 3rd. Citigroup boosted their target price on shares of Marvell Technology from $113.00 to $118.00 and gave the stock a "buy" rating in a report on Friday, March 6th. Deutsche Bank Aktiengesellschaft set a $120.00 target price on shares of Marvell Technology in a report on Tuesday, February 10th. Finally, Bank of America upgraded shares of Marvell Technology from a "neutral" rating to a "buy" rating and upped their price objective for the company from $90.00 to $110.00 in a report on Friday, March 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $125.00.
Get Our Latest Stock Report on MRVL
Insiders Place Their Bets
In other news, EVP Mark Casper sold 10,000 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $135.50, for a total transaction of $1,355,000.00. Following the transaction, the executive vice president owned 35,878 shares in the company, valued at $4,861,469. This trade represents a 21.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 30,000 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $134.01, for a total value of $4,020,300.00. Following the transaction, the chief financial officer owned 154,111 shares in the company, valued at $20,652,415.11. This trade represents a 16.29% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 233,560 shares of company stock worth $27,870,662. Corporate insiders own 0.33% of the company's stock.
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.
Featured Stories
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