Cannon Global Investment Management LLC Sells 6,700 Shares of Marvell Technology, Inc. $MRVL

Key Points

• Cannon Global Investment Management reduced its Marvell Technology position by 40.6% in Q1, selling 6,700 shares and leaving it with 9,800 shares worth about $971,000.
• Marvell continues to draw bullish analyst attention, with Bank of America raising its price target to $365 and other firms lifting targets amid optimism tied to AI infrastructure demand.
• The company also announced a quarterly dividend of $0.06 per share, payable July 30, while recent quarterly results showed revenue up 27.6% year over year and EPS in line with estimates.

Cannon Global Investment Management LLC trimmed its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 40.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,800 shares of the semiconductor company's stock after selling 6,700 shares during the period. Marvell Technology makes up 1.9% of Cannon Global Investment Management LLC's investment portfolio, making the stock its 11th biggest holding. Cannon Global Investment Management LLC's holdings in Marvell Technology were worth $971,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Laurel Wealth Advisors LLC purchased a new stake in Marvell Technology during the 4th quarter worth about $25,000. Jessup Wealth Management Inc purchased a new position in Marvell Technology during the 4th quarter valued at about $25,000. Hilton Head Capital Partners LLC grew its holdings in Marvell Technology by 978.3% during the 1st quarter. Hilton Head Capital Partners LLC now owns 248 shares of the semiconductor company's stock valued at $25,000 after buying an additional 225 shares in the last quarter. Cherry Tree Wealth Management LLC bought a new stake in shares of Marvell Technology during the fourth quarter valued at about $26,000. Finally, MidFirst Bank bought a new stake in shares of Marvell Technology during the fourth quarter valued at about $28,000. Institutional investors own 83.51% of the company's stock.

Key Headlines Impacting Marvell Technology

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

• Positive Sentiment: Bank of America boosted its price target to $365 and reiterated a Buy rating, reinforcing the bullish case for Marvell’s AI-driven growth. BofA raises Marvell price target
• Positive Sentiment: Marvell declared a quarterly dividend, which can support investor confidence and signals ongoing capital returns to shareholders. Marvell declares quarterly dividend
• Positive Sentiment: Recent coverage continues to frame Marvell as a major beneficiary of AI infrastructure spending, with analysts pointing to continued upside in networking, optics, and custom silicon. Zacks on AI networking expansion
• Neutral Sentiment: Short interest data showed no meaningful change in the latest update, so it does not appear to be a major near-term trading catalyst. Short interest update
• Negative Sentiment: Marvell CFO Daniel Durn sold 2,250 shares, which may slightly pressure sentiment despite the sale being relatively small versus his remaining holdings. SEC insider transaction filing

Insider Activity

In related news, EVP Mark Casper sold 10,854 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $107.01, for a total transaction of $1,161,486.54. Following the transaction, the executive vice president owned 4,023 shares of the company's stock, valued at approximately $430,501.23. This trade represents a 72.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sandeep Bharathi sold 66,892 shares of Marvell Technology stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $130.35, for a total transaction of $8,719,372.20. Following the completion of the transaction, the insider owned 55,199 shares in the company, valued at approximately $7,195,189.65. The trade was a 54.79% decrease in their position. The SEC filing for this sale provides additional information. 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 three months, insiders sold 185,127 shares of company stock valued at $25,874,325. Insiders own 0.12% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wall Street Zen lowered shares of Marvell Technology from a "buy" rating to a "hold" rating in a research report on Sunday, March 15th. Susquehanna upped their target price on shares of Marvell Technology from $100.00 to $230.00 and gave the stock a "positive" rating in a report on Tuesday, May 26th. KGI Securities upgraded shares of Marvell Technology from a "neutral" rating to an "outperform" rating and set a $110.00 price target for the company in a research report on Friday, March 6th. Morgan Stanley upped their price target on shares of Marvell Technology from $172.00 to $195.00 and gave the stock an "equal weight" rating in a report on Thursday, May 28th. Finally, Stifel Nicolaus increased their price objective on Marvell Technology from $321.00 to $350.00 and gave the stock a "buy" rating in a research report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $233.68.

Marvell Technology Trading Up 1.6%

Shares of MRVL stock opened at $281.26 on Friday. The business has a 50-day moving average price of $214.11 and a two-hundred day moving average price of $132.36. Marvell Technology, Inc. has a 12-month low of $61.44 and a 12-month high of $329.88. The company has a quick ratio of 2.66, a current ratio of 3.28 and a debt-to-equity ratio of 0.27. The firm has a market cap of $246.05 billion, a P/E ratio of 96.32, a price-to-earnings-growth ratio of 1.81 and a beta of 2.29.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its quarterly earnings data on Wednesday, May 27th. The semiconductor company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.41 billion. Marvell Technology had a return on equity of 13.83% and a net margin of 28.99%.The company's revenue was up 27.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.62 EPS. Marvell Technology has set its Q2 2027 guidance at 0.880-0.980 EPS. Equities analysts anticipate that Marvell Technology, Inc. will post 3.07 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Friday, July 10th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Friday, July 10th. Marvell Technology's dividend payout ratio (DPR) is presently 8.22%.

Marvell Technology Profile

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.

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