Bank of America Corp DE Makes New Investment in Marvell Technology, Inc. $MRVL

Bank of America Corp DE acquired a new position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 8,754,223 shares of the semiconductor company's stock, valued at approximately $2,607,795,000. Bank of America Corp DE owned approximately 1.00% of Marvell Technology at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Cape ANN Savings Bank lifted its holdings in Marvell Technology by 2.3% in the 2nd quarter. Cape ANN Savings Bank now owns 2,245 shares of the semiconductor company's stock valued at $669,000 after purchasing an additional 50 shares in the last quarter. Arlington Trust Co LLC increased its holdings in Marvell Technology by 24.1% during the 2nd quarter. Arlington Trust Co LLC now owns 268 shares of the semiconductor company's stock worth $80,000 after purchasing an additional 52 shares during the period. GoalVest Advisory LLC grew its stake in shares of Marvell Technology by 26.0% during the second quarter. GoalVest Advisory LLC now owns 315 shares of the semiconductor company's stock worth $94,000 after purchasing an additional 65 shares in the last quarter. Mayflower Financial Advisors LLC grew its position in shares of Marvell Technology by 1.7% in the 1st quarter. Mayflower Financial Advisors LLC now owns 4,109 shares of the semiconductor company's stock valued at $407,000 after buying an additional 68 shares during the last quarter. Finally, Bell Investment Advisors Inc raised its position in Marvell Technology by 12.9% in the 1st quarter. Bell Investment Advisors Inc now owns 628 shares of the semiconductor company's stock valued at $62,000 after purchasing an additional 72 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marvell Technology

In other news, CEO Matthew Murphy sold 7,500 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $236.08, for a total transaction of $1,770,600.00. Following the sale, the chief executive officer directly owned 783,186 shares of the company's stock, valued at $184,894,550.88. This represents a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Chris Koopmans sold 10,000 shares of the firm's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $203.27, for a total value of $2,032,700.00. Following the completion of the transaction, the chief operating officer owned 217,941 shares in the company, valued at approximately $44,300,867.07. This represents a 4.39% 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. In the last 90 days, insiders sold 39,750 shares of company stock worth $9,059,772. 0.12% of the stock is currently owned by corporate insiders.

Marvell Technology Stock Down 7.3%

NASDAQ MRVL opened at $218.82 on Tuesday. The company has a current ratio of 3.17, a quick ratio of 2.62 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $191.88 billion, a price-to-earnings ratio of 72.22, a PEG ratio of 2.29 and a beta of 2.25. Marvell Technology, Inc. has a 1-year low of $66.33 and a 1-year high of $329.88. The stock's 50 day moving average is $215.80 and its two-hundred day moving average is $188.18.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its quarterly earnings results on Thursday, August 27th. The semiconductor company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.93 by $0.01. Marvell Technology had a return on equity of 13.57% and a net margin of 27.93%.The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.72 billion. During the same quarter in the previous year, the firm earned $0.67 EPS. Marvell Technology's quarterly revenue was up 36.5% on a year-over-year basis. Marvell Technology has set its Q3 2027 guidance at 1.050-1.150 EPS. Equities analysts forecast that Marvell Technology, Inc. will post 3.03 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Friday, July 10th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Friday, July 10th. Marvell Technology's payout ratio is currently 7.92%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MRVL shares. JPMorgan Chase & Co. boosted their price target on Marvell Technology from $135.00 to $240.00 and gave the stock an "overweight" rating in a research note on Thursday, May 28th. Rosenblatt Securities raised their price objective on Marvell Technology from $240.00 to $300.00 and gave the company a "buy" rating in a research note on Tuesday, August 25th. Compass Point set a $190.00 price objective on shares of Marvell Technology in a research report on Tuesday, May 26th. Barclays reaffirmed an "overweight" rating on shares of Marvell Technology in a report on Thursday, August 20th. Finally, Weiss Ratings raised Marvell Technology from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, August 31st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $270.47.

Trending Headlines about Marvell Technology

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

• Positive Sentiment: An analyst raised the company’s second-quarter EPS forecast, signaling continued confidence in Marvell’s earnings outlook. Q2 EPS Forecast for Marvell Technology Boosted by Analyst
• Positive Sentiment: Marvell remains positioned to benefit from demand for custom silicon and data-center connectivity, and investors are awaiting its presentation of its data-center portfolio. Its latest reported quarter showed 36.5% year-over-year revenue growth and earnings slightly above consensus. Marvell stock plunges as a new threat hits the AI trade
• Neutral Sentiment: Marvell is intensifying competition in custom silicon, an important growth market but one where AI-related optimism may already be reflected in the stock’s valuation. Comparisons with Nvidia highlighted Nvidia’s faster growth, higher gross margin and lower forward valuation. Marvell Heats Up Custom Silicon Competition
• Negative Sentiment: Anthropic CEO Dario Amodei’s call for a slower pace of AI development, reportedly supported by other technology leaders, fueled concerns that hyperscalers could moderate spending on AI servers, networking and custom chips. Why Is Marvell Stock Down Nearly 8%?
• Negative Sentiment: The AI-spending debate triggered broad selling across chipmakers, including Marvell, Nvidia and Broadcom. The decline was compounded by uncertainty ahead of Federal Reserve policy week and concerns that high-flying semiconductor stocks had outpaced near-term fundamentals. Marvell Falls as AI Pacing Debate Collides With Fed Week

About Marvell Technology

Marvell Technology, Inc NASDAQ: MRVL is a semiconductor company that develops infrastructure solutions for data centers, cloud computing, communications networks, automotive applications and enterprise environments. Its products are designed to move, process, secure and store data across increasingly complex computing and networking systems.

The company's portfolio includes networking and switching products, optical and electrical interconnect solutions, custom application-specific integrated circuits, storage controllers and processors.

Want to see what other hedge funds are holding MRVL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marvell Technology, Inc. (NASDAQ:MRVL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.