Adage Capital Partners GP L.L.C. Sells 36,000 Shares of Marvell Technology, Inc. $MRVL

Adage Capital Partners GP L.L.C. lowered its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 15.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 192,328 shares of the semiconductor company's stock after selling 36,000 shares during the quarter. Adage Capital Partners GP L.L.C.'s holdings in Marvell Technology were worth $11,842,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Marvell Technology by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 63,770,122 shares of the semiconductor company's stock valued at $3,926,326,000 after acquiring an additional 1,212,338 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Marvell Technology by 32.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company's stock valued at $1,272,117,000 after acquiring an additional 5,050,159 shares during the period. Brown Advisory Inc. boosted its holdings in Marvell Technology by 2.2% during the 1st quarter. Brown Advisory Inc. now owns 19,300,527 shares of the semiconductor company's stock valued at $1,188,333,000 after acquiring an additional 423,892 shares during the period. Janus Henderson Group PLC grew its stake in Marvell Technology by 6.9% in the fourth quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company's stock worth $1,462,274,000 after purchasing an additional 857,087 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in 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 worth $1,033,859,000 after purchasing an additional 6,543,132 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Wall Street Analyst Weigh In

MRVL has been the topic of several research analyst reports. Susquehanna dropped their price objective on Marvell Technology from $110.00 to $90.00 and set a "positive" rating on the stock in a research note on Tuesday, May 27th. Melius cut Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 price objective on the stock. in a research note on Thursday, May 22nd. Cantor Fitzgerald reissued a "neutral" rating and issued a $75.00 price objective on shares of Marvell Technology in a research note on Friday, August 29th. Piper Sandler reissued an "overweight" rating and issued a $85.00 price objective (down previously from $95.00) on shares of Marvell Technology in a research note on Friday, May 30th. Finally, Needham & Company LLC dropped their price objective on Marvell Technology from $85.00 to $80.00 and set a "buy" rating on the stock in a research note on Friday, August 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $90.50.

Marvell Technology Trading Down 1.2%

NASDAQ MRVL opened at $63.33 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.88 and a debt-to-equity ratio of 0.30. The firm has a market cap of $54.60 billion, a PE ratio of -487.15, a price-to-earnings-growth ratio of 0.77 and a beta of 1.85. The company has a 50 day moving average price of $73.45 and a 200 day moving average price of $69.01. Marvell Technology, Inc. has a 52 week low of $47.08 and a 52 week high of $127.48.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its quarterly earnings data on Thursday, August 28th. The semiconductor company reported $0.67 EPS for the quarter, meeting the consensus estimate of $0.67. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.01 billion. Marvell Technology had a negative net margin of 1.43% and a positive return on equity of 11.01%. Marvell Technology's revenue was up 57.6% on a year-over-year basis. During the same period last year, the firm posted $0.30 EPS. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. As a group, sell-side analysts forecast that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Friday, July 11th were paid a $0.06 dividend. The ex-dividend date was Friday, July 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. Marvell Technology's dividend payout ratio is presently -184.62%.

Insider Transactions at Marvell Technology

In other news, EVP Mark Casper sold 3,000 shares of the company's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $72.35, for a total value of $217,050.00. Following the sale, the executive vice president owned 17,163 shares in the company, valued at $1,241,743.05. This represents a 14.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Panteha Dixon sold 1,283 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $68.50, for a total value of $87,885.50. Following the completion of the sale, the chief accounting officer owned 29,572 shares in the company, valued at $2,025,682. The trade was a 4.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,783 shares of company stock worth $407,716 over the last quarter. 0.19% of the stock is currently owned by insiders.

About Marvell Technology

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.

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