Gateway Investment Advisers LLC Sells 5,265 Shares of Marvell Technology, Inc. $MRVL

Key Points

• Gateway Investment Advisers LLC has reduced its holdings in Marvell Technology by 6.0%, totaling 82,255 shares valued at approximately $6.37 million.
• Other investors, including Harbor Capital Advisors and Synovus Financial Corp, increased their stakes in Marvell during the same quarter, highlighting a mixed sentiment among institutional investors.
• Analysts have provided varied ratings for Marvell Technology; JPMorgan Chase downgraded its target price, while BNP Paribas upgraded its rating to "strong-buy", indicating differing views on the stock's future performance.

Gateway Investment Advisers LLC reduced its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 6.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,255 shares of the semiconductor company's stock after selling 5,265 shares during the period. Gateway Investment Advisers LLC's holdings in Marvell Technology were worth $6,367,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hughes Financial Services LLC acquired a new position in shares of Marvell Technology during the first quarter worth about $26,000. Rossby Financial LCC acquired a new position in shares of Marvell Technology during the first quarter worth about $27,000. Financial Connections Group Inc. boosted its position in shares of Marvell Technology by 776.0% during the first quarter. Financial Connections Group Inc. now owns 438 shares of the semiconductor company's stock worth $27,000 after buying an additional 388 shares during the period. Vision Financial Markets LLC acquired a new position in shares of Marvell Technology during the first quarter worth about $28,000. Finally, Security National Bank acquired a new position in Marvell Technology during the first quarter valued at approximately $31,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Zacks Research cut Marvell Technology from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 26th. TD Cowen increased their price target on Marvell Technology from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Evercore ISI reduced their price target on Marvell Technology from $133.00 to $122.00 and set an "outperform" rating for the company in a research report on Friday, August 29th. Melius Research increased their price target on Marvell Technology from $67.00 to $76.00 and gave the company a "hold" rating in a research report on Wednesday, June 18th. Finally, Raymond James Financial reissued an "outperform" rating and set a $90.00 price target (down from $110.00) on shares of Marvell Technology in a research report on Friday, May 30th. Two investment 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.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $90.50.

Marvell Technology Stock Performance

NASDAQ:MRVL traded up $0.03 during mid-day trading on Friday, hitting $74.26. 31,771,842 shares of the stock were exchanged, compared to its average volume of 24,598,630. The stock has a market capitalization of $64.02 billion, a price-to-earnings ratio of -571.23, a price-to-earnings-growth ratio of 0.90 and a beta of 1.85. The firm's 50-day simple moving average is $72.45 and its 200 day simple moving average is $67.41. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.44 and a current ratio of 1.88. Marvell Technology, Inc. has a fifty-two week low of $47.08 and a fifty-two week high of $127.48.

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 for the quarter, hitting the consensus estimate of $0.67. The business had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $2.01 billion. Marvell Technology had a positive return on equity of 11.01% and a negative net margin of 1.43%.The firm's revenue for the quarter was up 57.6% compared to the same quarter last year. During the same period last year, the firm posted $0.30 EPS. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. As a group, equities analysts anticipate that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 30th. Investors of record on Friday, October 10th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.3%. Marvell Technology's payout ratio is currently -184.62%.

Insiders Place Their Bets

In other Marvell Technology news, EVP Mark Casper sold 3,000 shares of Marvell Technology 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 completion of the transaction, the executive vice president directly owned 17,163 shares of the company's stock, valued at $1,241,743.05. The trade was a 14.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.19% of the company's stock.

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.