Family Legacy Financial Solutions LLC acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 20,902 shares of the semiconductor company's stock, valued at approximately $1,618,000. Marvell Technology makes up approximately 1.4% of Family Legacy Financial Solutions LLC's investment portfolio, making the stock its 16th largest position.
A number of other hedge funds have also modified their holdings of MRVL. Nuveen LLC purchased a new stake in Marvell Technology in the 1st quarter worth approximately $399,587,000. Goldman Sachs Group Inc. grew its stake in Marvell Technology by 32.3% in the 1st 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 during the period. Impax Asset Management Group plc grew its stake in Marvell Technology by 748.3% in the 1st 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 during the period. AQR Capital Management LLC grew its stake in Marvell Technology by 662.9% in the 1st quarter. AQR Capital Management LLC now owns 3,119,855 shares of the semiconductor company's stock worth $187,566,000 after acquiring an additional 2,710,894 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in Marvell Technology by 8,128.6% in the 1st 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 during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have commented on MRVL. Loop Capital lowered their target price 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. Cantor Fitzgerald reiterated a "neutral" rating and issued a $75.00 price target on shares of Marvell Technology in a report on Friday, August 29th. Needham & Company LLC decreased their price target on shares of Marvell Technology from $85.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, August 29th. Raymond James Financial reiterated an "outperform" rating and issued a $90.00 price target (down previously from $110.00) on shares of Marvell Technology in a report on Friday, May 30th. Finally, TD Cowen lifted their price target on shares of Marvell Technology from $60.00 to $70.00 and gave the company a "buy" rating in a report on Friday, May 30th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.50.
View Our Latest Stock Report on MRVL
Insider Buying and Selling at Marvell Technology
In other news, EVP Mark Casper sold 3,000 shares of the company'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 value 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 represents a 14.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company's stock.
Marvell Technology Stock Performance
Shares of NASDAQ:MRVL traded up $0.03 during trading on Friday, reaching $74.26. 31,771,842 shares of the company's stock traded hands, compared to its average volume of 24,598,630. 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, Inc. has a 12 month low of $47.08 and a 12 month high of $127.48. The company has a 50 day moving average of $72.45 and a 200-day moving average of $67.26. The stock has a market capitalization of $64.02 billion, a P/E ratio of -571.23, a price-to-earnings-growth ratio of 0.90 and a beta of 1.85.
Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its quarterly earnings data on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share for the quarter, meeting 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 business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. The company's revenue for the quarter was up 57.6% compared to the same quarter last year. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. On average, equities analysts expect that Marvell Technology, Inc. will post 0.91 EPS for the current year.
Marvell Technology Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 30th. Stockholders of record on Friday, October 10th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. Marvell Technology's dividend payout ratio is currently -184.62%.
Marvell Technology Profile
(
Free Report)
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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