Contour Asset Management LLC Reduces Stock Position in Marvell Technology, Inc. $MRVL

Contour Asset Management LLC trimmed its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 47.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 906,128 shares of the semiconductor company's stock after selling 825,524 shares during the quarter. Marvell Technology makes up approximately 2.2% of Contour Asset Management LLC's holdings, making the stock its 17th largest position. Contour Asset Management LLC owned 0.10% of Marvell Technology worth $55,790,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Hughes Financial Services LLC bought a new stake in shares of Marvell Technology in the 1st quarter valued at approximately $26,000. Rossby Financial LCC bought a new stake in shares of Marvell Technology in the 1st quarter valued at approximately $27,000. Financial Connections Group Inc. increased its holdings in shares of Marvell Technology by 776.0% in the 1st quarter. Financial Connections Group Inc. now owns 438 shares of the semiconductor company's stock valued at $27,000 after acquiring an additional 388 shares during the last quarter. Vision Financial Markets LLC bought a new stake in shares of Marvell Technology in the 1st quarter valued at approximately $28,000. Finally, Security National Bank bought a new stake in shares of Marvell Technology in the 1st quarter valued at approximately $31,000. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Trading Down 18.6%

Shares of MRVL stock opened at $62.87 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 1.30. Marvell Technology, Inc. has a 1 year low of $47.08 and a 1 year high of $127.48. The stock has a fifty day moving average of $74.53 and a two-hundred day moving average of $69.98. The firm has a market capitalization of $54.31 billion, a PE ratio of -483.62, a price-to-earnings-growth ratio of 0.68 and a beta of 1.85.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced 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 positive return on equity of 11.02% and a negative net margin of 1.43%.The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the firm posted $0.30 EPS. The firm's quarterly 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. As a group, research analysts expect that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Friday, July 11th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Friday, July 11th. Marvell Technology's payout ratio is -184.62%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MRVL. Bank of America reiterated a "neutral" rating and issued a $78.00 price target (down from $90.00) on shares of Marvell Technology in a report on Friday. Wells Fargo & Company reduced their price objective on Marvell Technology from $95.00 to $90.00 and set an "overweight" rating for the company in a research report on Friday. Raymond James Financial restated an "outperform" rating and set a $90.00 price objective (down previously from $110.00) on shares of Marvell Technology in a research report on Friday, May 30th. Evercore ISI reduced their price objective on Marvell Technology from $133.00 to $122.00 and set an "outperform" rating for the company in a research report on Friday. Finally, Zacks Research lowered Marvell Technology from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $90.50.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $68.52, for a total transaction of $102,780.00. Following the completion of the transaction, the chief financial officer owned 121,348 shares in the company, valued at approximately $8,314,764.96. The trade was a 1.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark Casper sold 3,000 shares of the business's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $72.35, for a total value of $217,050.00. Following the transaction, the executive vice president owned 17,163 shares of the company's stock, valued at $1,241,743.05. This trade represents a 14.88% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,783 shares of company stock worth $407,716. 0.33% of the stock is owned by company insiders.

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.

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