EFG Asset Management North America Corp. Takes $2.50 Million Position in Marvell Technology, Inc. $MRVL

Key Points

• EFG Asset Management North America Corp. acquired 40,659 shares of Marvell Technology, Inc. ($MRVL), valued at approximately $2.5 million, indicating growing institutional interest in the semiconductor company.
• Marvell reported a quarterly revenue of $2.01 billion, reflecting a 57.6% increase year-over-year, while earnings per share matched analysts' expectations at $0.67.
• Insiders at Marvell sold a total of 5,783 shares valued at $407,716 last quarter, with executives reducing their ownership stakes amid a backdrop of significant institutional investments.

EFG Asset Management North America Corp. purchased a new position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 40,659 shares of the semiconductor company's stock, valued at approximately $2,503,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MRVL. Nuveen Asset Management LLC lifted its holdings in shares of Marvell Technology by 232.2% in the fourth quarter. Nuveen Asset Management LLC now owns 9,360,425 shares of the semiconductor company's stock valued at $1,033,859,000 after purchasing an additional 6,543,132 shares in the last quarter. Nuveen LLC bought a new position in shares of Marvell Technology in the first quarter valued at approximately $399,587,000. Goldman Sachs Group Inc. lifted its holdings in shares of Marvell Technology by 32.3% in the first quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company's stock valued at $1,272,117,000 after purchasing an additional 5,050,159 shares in the last quarter. Impax Asset Management Group plc lifted its holdings in shares of Marvell Technology by 748.3% in the first quarter. Impax Asset Management Group plc now owns 3,700,841 shares of the semiconductor company's stock valued at $227,033,000 after purchasing an additional 3,264,557 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Marvell Technology by 662.9% in the first quarter. AQR Capital Management LLC now owns 3,119,855 shares of the semiconductor company's stock valued at $187,566,000 after purchasing an additional 2,710,894 shares in the last quarter. Institutional investors own 83.51% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MRVL. Melius Research raised their target price on Marvell Technology from $67.00 to $76.00 and gave the company a "hold" rating in a report on Wednesday, June 18th. Morgan Stanley dropped their target price on Marvell Technology from $80.00 to $76.00 and set an "equal weight" rating on the stock in a report on Friday, August 29th. Benchmark restated a "buy" rating and issued a $95.00 target price on shares of Marvell Technology in a report on Friday, August 29th. Oppenheimer reiterated an "outperform" rating and set a $95.00 price target on shares of Marvell Technology in a report on Friday, August 29th. Finally, TD Cowen lifted their price target on Marvell Technology from $60.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $90.50.

Insiders Place Their Bets

In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Monday, June 16th. The stock was sold at an average price of $68.52, for a total value of $102,780.00. Following the completion of the transaction, the chief financial officer directly owned 121,348 shares in the company, valued at approximately $8,314,764.96. The trade was a 1.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Panteha Dixon sold 1,283 shares of Marvell Technology stock in a transaction on Monday, June 16th. The shares were sold at an average price of $68.50, for a total value of $87,885.50. Following the completion of the transaction, the chief accounting officer owned 29,572 shares of the company's stock, valued at approximately $2,025,682. This trade represents a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,783 shares of company stock valued at $407,716 over the last ninety days. 0.19% of the stock is currently owned by insiders.

Marvell Technology Stock Performance

NASDAQ:MRVL traded down $0.77 during trading hours on Friday, reaching $63.33. The stock had a trading volume of 25,742,906 shares, compared to its average volume of 20,477,784. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.94 and a current ratio of 1.88. The stock has a 50 day simple moving average of $73.45 and a 200 day simple moving average of $69.30. Marvell Technology, Inc. has a 12-month low of $47.08 and a 12-month high of $127.48. The stock has a market cap of $54.60 billion, a P/E ratio of -487.15, a price-to-earnings-growth ratio of 0.77 and a beta of 1.85.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its earnings results on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.67. Marvell Technology had a positive return on equity of 11.01% and a negative net margin of 1.43%.The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period last year, the business posted $0.30 earnings per share. The business's revenue for the quarter was up 57.6% on a year-over-year basis. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. On average, research analysts forecast 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, July 31st. Shareholders of record on Friday, July 11th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Friday, July 11th. Marvell Technology's dividend payout ratio (DPR) is currently -184.62%.

Marvell Technology Company Profile

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.