Connective Portfolio Management LLC Purchases Shares of 22,000 Marvell Technology, Inc. $MRVL

Key Points

• Connective Portfolio Management LLC has acquired 22,000 shares of Marvell Technology, valued at approximately $1.7 million, making it the firm's 11th largest position.
• Several institutional investors, including Burr Financial Services LLC and MassMutual Private Wealth & Trust FSB, have significantly increased their stakes in Marvell during the second quarter.
• Marvell Technology reported earnings of $0.67 per share for the last quarter, meeting analyst expectations, with revenues rising 57.6% year-over-year to $2.01 billion.

Connective Portfolio Management LLC purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 22,000 shares of the semiconductor company's stock, valued at approximately $1,703,000. Marvell Technology accounts for 3.6% of Connective Portfolio Management LLC's holdings, making the stock its 11th largest position.

Several other institutional investors have also added to or reduced their stakes in the business. Burr Financial Services LLC raised its stake in shares of Marvell Technology by 471.4% during the second quarter. Burr Financial Services LLC now owns 37,085 shares of the semiconductor company's stock valued at $2,870,000 after acquiring an additional 30,595 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Marvell Technology by 18.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 90,759 shares of the semiconductor company's stock valued at $7,025,000 after acquiring an additional 14,176 shares during the last quarter. Strategic Advocates LLC bought a new position in shares of Marvell Technology during the second quarter valued at about $306,000. Parisi Gray Wealth Management raised its stake in shares of Marvell Technology by 27.0% during the second quarter. Parisi Gray Wealth Management now owns 22,507 shares of the semiconductor company's stock valued at $1,742,000 after acquiring an additional 4,782 shares during the last quarter. Finally, Red Spruce Capital LLC bought a new position in shares of Marvell Technology during the second quarter valued at about $1,975,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 3,000 shares of the firm'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 transaction, the executive vice president 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.33% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on MRVL. Bank of America reaffirmed a "neutral" rating and set a $78.00 price objective (down from $90.00) on shares of Marvell Technology in a research note on Friday, August 29th. Loop Capital lowered their price objective 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. Raymond James Financial reaffirmed an "outperform" rating and set a $90.00 price objective (down from $110.00) on shares of Marvell Technology in a research note on Friday, May 30th. China Renaissance assumed coverage on shares of Marvell Technology in a research note on Thursday, June 5th. They set a "buy" rating and a $110.00 price objective for the company. Finally, Melius Research increased their price target on shares of Marvell Technology from $67.00 to $76.00 and gave the stock a "hold" rating in a research note on Wednesday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $90.50.

Marvell Technology Price Performance

MRVL stock opened at $67.43 on Tuesday. Marvell Technology, Inc. has a 1 year low of $47.08 and a 1 year high of $127.48. The company has a market cap of $58.13 billion, a P/E ratio of -518.69, a PEG ratio of 0.81 and a beta of 1.85. The firm has a 50-day moving average of $72.49 and a 200 day moving average of $67.56. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.88 and a quick ratio of 1.44.

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

About Marvell Technology

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.