Ascent Group LLC Invests $1.90 Million in Marvell Technology, Inc. $MRVL

Key Points

• Ascent Group LLC has invested approximately $1.90 million in Marvell Technology, acquiring 30,804 shares during the 1st quarter, according to a recent 13F filing.
• Marvell Technology's stock has seen significant institutional interest, with 83.51% of shares currently owned by institutional investors and hedge funds.
• Marvell's quarterly earnings met analysts' expectations, reporting $0.67 EPS on revenue of $2.01 billion, marking a 57.6% increase compared to the previous year.

Ascent Group LLC acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 30,804 shares of the semiconductor company's stock, valued at approximately $1,897,000.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Marvell Technology by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 63,770,122 shares of the semiconductor company's stock worth $3,926,326,000 after purchasing an additional 1,212,338 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of 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 worth $1,272,117,000 after purchasing an additional 5,050,159 shares during the last quarter. Brown Advisory Inc. boosted its holdings in shares of Marvell Technology by 2.2% during the 1st quarter. Brown Advisory Inc. now owns 19,300,527 shares of the semiconductor company's stock worth $1,188,333,000 after buying an additional 423,892 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of Marvell Technology by 232.2% during the 4th quarter. Nuveen Asset Management LLC now owns 9,360,425 shares of the semiconductor company's stock worth $1,033,859,000 after buying an additional 6,543,132 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Marvell Technology by 2.6% during the 1st quarter. Ameriprise Financial Inc. now owns 8,942,304 shares of the semiconductor company's stock worth $562,991,000 after buying an additional 227,555 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 news, EVP Mark Casper sold 3,000 shares of the company's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $72.35, for a total transaction of $217,050.00. Following the completion of the sale, the executive vice president owned 17,163 shares of the company's stock, valued at approximately $1,241,743.05. This represents a 14.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Panteha Dixon sold 1,283 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $68.50, for a total transaction of $87,885.50. Following the sale, the chief accounting officer directly owned 29,572 shares of the company's stock, valued at approximately $2,025,682. This trade represents a 4.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,783 shares of company stock valued at $407,716 in the last quarter. Company insiders own 0.33% of the company's stock.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $66.00 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 1.88 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $56.90 billion, a P/E ratio of -507.69, a P/E/G ratio of 0.77 and a beta of 1.85. Marvell Technology, Inc. has a 12-month low of $47.08 and a 12-month high of $127.48. The firm has a 50-day moving average price of $73.23 and a two-hundred day moving average price of $68.47.

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

Marvell Technology Dividend Announcement

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

Analyst Upgrades and Downgrades

MRVL has been the subject of several research analyst reports. Oppenheimer reaffirmed an "outperform" rating and set a $95.00 target price on shares of Marvell Technology in a report on Friday, August 29th. Morgan Stanley reduced their target price on shares of Marvell Technology from $80.00 to $76.00 and set an "equal weight" rating for the company in a report on Friday, August 29th. TD Cowen lifted their target price on shares of Marvell Technology from $60.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Rosenblatt Securities reduced their target price on shares of Marvell Technology from $124.00 to $95.00 and set a "buy" rating for the company in a report on Friday, August 29th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $90.00 target price (down previously from $110.00) on shares of Marvell Technology in a report on Friday, May 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $90.50.

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.

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