Channing Capital Management LLC Purchases New Position in Marvell Technology, Inc. $MRVL

Key Points

• Channing Capital Management LLC has invested $4.84 million in Marvell Technology by acquiring 78,614 shares, as noted in their recent SEC filing.
• Institutional investors collectively hold 83.51% of Marvell Technology's stock, with significant increases in holdings by firms like Goldman Sachs and Vanguard Group.
• Marvell Technology's recent quarterly earnings report showed an EPS of $0.62, beating estimates, and a year-over-year revenue increase of 63.3%.

Channing Capital Management LLC bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 78,614 shares of the semiconductor company's stock, valued at approximately $4,840,000.

Several other institutional investors have also recently added to or reduced their stakes in MRVL. Nuveen Asset Management LLC increased its holdings in Marvell Technology by 232.2% in the 4th 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 during the last quarter. Nuveen LLC acquired a new position in shares of Marvell Technology in the first quarter worth $399,587,000. Goldman Sachs Group Inc. grew its stake 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 worth $1,272,117,000 after acquiring an additional 5,050,159 shares in the last quarter. Impax Asset Management Group plc grew its stake 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 worth $227,033,000 after acquiring an additional 3,264,557 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Marvell Technology by 8,128.6% in the first quarter. Assenagon Asset Management S.A. now owns 2,460,851 shares of the semiconductor company's stock worth $151,515,000 after acquiring an additional 2,430,945 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

Insider Activity at Marvell Technology

In related news, CAO Panteha Dixon sold 1,283 shares of the business's 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 sale, the chief accounting officer directly owned 29,572 shares of the company's stock, valued at $2,025,682. The trade was a 4.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Casper sold 3,000 shares of the business's stock in a transaction 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 directly owned 17,163 shares of the company's stock, valued at approximately $1,241,743.05. This trade represents a 14.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,783 shares of company stock valued at $407,716 over the last ninety days. Insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on MRVL. Cantor Fitzgerald boosted their price target on shares of Marvell Technology from $60.00 to $75.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 18th. Morgan Stanley restated an "equal weight" rating on shares of Marvell Technology in a research note on Friday, August 8th. Loop Capital dropped their price target on shares of Marvell Technology from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Piper Sandler restated an "overweight" rating and issued a $85.00 price target (down previously from $95.00) on shares of Marvell Technology in a research note on Friday, May 30th. Finally, UBS Group restated a "buy" rating on shares of Marvell Technology in a research note on Monday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $94.70.

Marvell Technology Stock Up 2.5%

Shares of MRVL stock traded up $1.79 on Friday, reaching $73.00. 14,399,279 shares of the stock were exchanged, compared to its average volume of 16,045,754. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. The business's 50 day moving average price is $74.72 and its 200 day moving average price is $71.87. The company has a market capitalization of $63.06 billion, a price-to-earnings ratio of -128.07, a PEG ratio of 0.79 and a beta of 1.83. Marvell Technology, Inc. has a twelve month low of $47.08 and a twelve month high of $127.48.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.01. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. Marvell Technology had a negative net margin of 7.56% and a positive return on equity of 8.42%. The company's revenue was up 63.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.24 earnings per share. Marvell Technology has set its Q2 2026 guidance at 0.620-0.720 EPS. As a group, sell-side analysts expect that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Friday, July 11th were given 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 0.3%. Marvell Technology's payout ratio is -42.11%.

Marvell Technology 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.