Cibc World Market Inc. Decreases Position in Marvell Technology, Inc. $MRVL

Key Points

• Cibc World Market Inc. cut its Marvell Technology stake by 11.4% in the fourth quarter, selling 25,875 shares and leaving it with 200,686 shares valued at about $17.1 million.
• Wall Street sentiment remains mixed but generally positive, with multiple analysts raising price targets; Raymond James lifted its target to $235 and kept a Strong Buy rating, while the consensus target is about $218.58.
• Marvell reported quarterly EPS of $0.80, matching estimates, on revenue of $2.42 billion, up 27.6% year over year, even as the stock has faced pressure from broader chip-sector weakness and concerns it may be overbought.

Cibc World Market Inc. lowered its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 11.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 200,686 shares of the semiconductor company's stock after selling 25,875 shares during the period. Cibc World Market Inc.'s holdings in Marvell Technology were worth $17,054,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of MRVL. Laurel Wealth Advisors LLC bought a new stake in shares of Marvell Technology in the fourth quarter valued at approximately $25,000. Cherry Tree Wealth Management LLC bought a new stake in shares of Marvell Technology in the fourth quarter valued at approximately $26,000. Elyxium Wealth LLC bought a new stake in shares of Marvell Technology in the fourth quarter valued at approximately $40,000. Strive Asset Management LLC bought a new stake in shares of Marvell Technology in the third quarter valued at approximately $42,000. Finally, Avalon Trust Co raised its position in shares of Marvell Technology by 70.6% in the third quarter. Avalon Trust Co now owns 650 shares of the semiconductor company's stock valued at $55,000 after purchasing an additional 269 shares during the period. Hedge funds and other institutional investors own 83.51% of the company's stock.

Marvell Technology News Roundup

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

• Positive Sentiment: Raymond James raised its price target on Marvell to $235 from $105 and reiterated a Strong Buy rating, reflecting continued analyst confidence. Raymond James Raises its Price Target on Marvell (MRVL) to $235 from $105
• Neutral Sentiment: Marvell received unusual call-option activity, which may signal trader interest, but it does not by itself change the fundamental outlook.
• Neutral Sentiment: There was ongoing speculation that Marvell could be added to the S&P 500 in an upcoming index rebalancing, which could provide a passive-fund boost if it happens.
• Negative Sentiment: Broader chip stocks sold off after Broadcom’s outlook disappointed Wall Street, dragging MRVL down with the sector. Micron, Marvell, and Broadcom lead chipmakers' premarket losses
• Negative Sentiment: Several reports warned that Marvell was overbought after its rapid run-up, making it vulnerable to profit-taking and a momentum unwind. Why Is Marvell Technology Stock Falling On Friday?

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $263.47 on Friday. The company has a current ratio of 3.28, a quick ratio of 2.66 and a debt-to-equity ratio of 0.27. Marvell Technology, Inc. has a 12 month low of $61.44 and a 12 month high of $324.20. The stock has a market cap of $230.48 billion, a P/E ratio of 90.23, a P/E/G ratio of 2.10 and a beta of 2.29. The company has a 50 day moving average of $164.84 and a 200 day moving average of $112.56.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its quarterly earnings data on Wednesday, May 27th. The semiconductor company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. Marvell Technology had a return on equity of 13.83% and a net margin of 28.99%.The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the company earned $0.62 earnings per share. The firm's quarterly revenue was up 27.6% on a year-over-year basis. Marvell Technology has set its Q2 2027 guidance at 0.880-0.980 EPS. As a group, sell-side analysts forecast that Marvell Technology, Inc. will post 3.04 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Bank of America boosted their price target on shares of Marvell Technology from $200.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, May 28th. KeyCorp boosted their price target on shares of Marvell Technology from $130.00 to $260.00 and gave the company an "overweight" rating in a research report on Thursday, May 28th. Cantor Fitzgerald boosted their price target on shares of Marvell Technology from $190.00 to $220.00 and gave the company a "neutral" rating in a research report on Thursday, May 28th. Melius Research set a $220.00 price target on shares of Marvell Technology in a research report on Monday, May 18th. Finally, Scotiabank assumed coverage on shares of Marvell Technology in a research report on Tuesday, May 26th. They issued an "outperform" rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Marvell Technology has an average rating of "Moderate Buy" and an average target price of $218.58.

Insider Activity

In other news, insider Sandeep Bharathi sold 66,892 shares of Marvell Technology stock in a transaction dated 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 sale, the insider owned 55,199 shares in the company, valued at approximately $7,195,189.65. This trade represents a 54.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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. Also, EVP Mark Casper sold 10,000 shares of Marvell Technology stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $135.50, for a total value of $1,355,000.00. Following the sale, the executive vice president owned 35,878 shares of the company's stock, valued at approximately $4,861,469. This trade represents a 21.80% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 255,060 shares of company stock worth $31,959,772. Company insiders own 0.12% of the company's stock.

Marvell Technology Company 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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