Deepwater Asset Management LLC Sells 31,120 Shares of Marvell Technology, Inc. $MRVL

Deepwater Asset Management LLC decreased its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 57.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,492 shares of the semiconductor company's stock after selling 31,120 shares during the quarter. Marvell Technology accounts for approximately 3.2% of Deepwater Asset Management LLC's holdings, making the stock its 18th biggest holding. Deepwater Asset Management LLC's holdings in Marvell Technology were worth $6,998,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MRVL. Focused Wealth Management Inc acquired a new stake in Marvell Technology during the first quarter valued at approximately $608,000. Swedbank AB grew its stake in shares of Marvell Technology by 2.8% in the 1st quarter. Swedbank AB now owns 3,189,551 shares of the semiconductor company's stock valued at $315,925,000 after purchasing an additional 85,816 shares during the period. Wilson Asset Management International PTY Ltd. raised its holdings in shares of Marvell Technology by 20.4% in the 4th quarter. Wilson Asset Management International PTY Ltd. now owns 134,642 shares of the semiconductor company's stock worth $11,442,000 after buying an additional 22,837 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of Marvell Technology by 49.7% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 273,647 shares of the semiconductor company's stock worth $27,105,000 after buying an additional 90,800 shares in the last quarter. Finally, Varma Mutual Pension Insurance Co lifted its position in shares of Marvell Technology by 25.4% during the 4th quarter. Varma Mutual Pension Insurance Co now owns 158,588 shares of the semiconductor company's stock worth $13,477,000 after buying an additional 32,130 shares during the period. 83.51% of the stock is owned by institutional investors.

Marvell Technology Stock Up 5.8%

NASDAQ MRVL opened at $251.01 on Friday. The firm has a market cap of $219.58 billion, a PE ratio of 85.96, a price-to-earnings-growth ratio of 1.48 and a beta of 2.24. Marvell Technology, Inc. has a one year low of $61.44 and a one year high of $329.88. The stock's 50 day simple moving average is $234.59 and its 200 day simple moving average is $170.57. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.28 and a quick ratio of 2.66.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its quarterly earnings results on Wednesday, May 27th. The semiconductor company reported $0.80 earnings per share for the quarter, meeting analysts' consensus estimates of $0.80. Marvell Technology had a return on equity of 13.83% and a net margin of 28.99%.The firm had revenue of $2.42 billion during the quarter, compared to analysts' expectations of $2.41 billion. During the same period last year, the firm posted $0.62 EPS. The business's 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 3.07 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Friday, July 10th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Friday, July 10th. Marvell Technology's payout ratio is currently 8.22%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MRVL shares. Barclays reaffirmed an "overweight" rating on shares of Marvell Technology in a research note on Thursday. Loop Capital raised Marvell Technology to a "strong-buy" rating in a report on Tuesday, June 16th. JPMorgan Chase & Co. lifted their price objective on Marvell Technology from $135.00 to $240.00 and gave the company an "overweight" rating in a report on Thursday, May 28th. Weiss Ratings restated a "hold (c)" rating on shares of Marvell Technology in a research note on Wednesday, June 24th. Finally, Melius Research set a $220.00 target price on shares of Marvell Technology in a report on Monday, May 18th. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Marvell Technology presently has an average rating of "Moderate Buy" and an average target price of $250.27.

Marvell Technology News Summary

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

• Positive Sentiment: Marvell agreed to develop custom silicon connected to Google’s Tensor Processing Unit ecosystem, including inference accelerators, storage and networking controllers, and memory-interface products. The deal broadens Marvell’s role in Google’s AI infrastructure and could challenge Broadcom’s long-standing position as Google’s primary custom-chip partner. Marvell pops on AI chip deal
• Positive Sentiment: Google received warrants to purchase up to approximately 58.97 million Marvell shares at $206.58 each, potentially representing about 6.7% of shares outstanding and roughly $12.2 billion in value. The warrants vest in stages based on Google’s purchases, aligning Google’s future AI-chip spending with Marvell’s growth. Marvell shares jump as Google warrant deepens partnership
• Positive Sentiment: Analysts described the agreement as a major long-term catalyst. JPMorgan sees a potential $120 billion cumulative opportunity through fiscal 2033, while RBC reaffirmed an Outperform rating with a $360 price target. Stifel and William Blair also issued or maintained Buy recommendations. Marvell’s Google AI deal could unlock opportunity
• Positive Sentiment: Technical momentum also improved after MRVL reclaimed its 50-day moving average, supporting a bullish-trend thesis and forecasts for a possible move toward $300. Marvell overtakes 50-day moving average

Insider Activity at Marvell Technology

In other Marvell Technology news, CFO Daniel Durn sold 2,250 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $281.01, for a total transaction of $632,272.50. Following the sale, the chief financial officer owned 6,902 shares of the company's stock, valued at $1,939,531.02. This represents a 24.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sandeep Bharathi sold 2,231 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $299.13, for a total transaction of $667,359.03. Following the sale, the insider directly owned 55,530 shares in the company, valued at approximately $16,610,688.90. This represents a 3.86% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold 41,981 shares of company stock worth $9,753,132 in the last 90 days. Corporate insiders own 0.12% of the company's stock.

About Marvell Technology

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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