Glenview Trust co Decreases Position in Marvell Technology, Inc. $MRVL

Key Points

• Glenview Trust co reduced its stake in Marvell Technology by 35% in Q1, holding 390,173 shares valued at approximately $24.02 million after selling 209,812 shares.
• Marvell Technology reported a 57.6% year-over-year revenue increase with earnings per share of $0.67 for the most recent quarter, meeting analysts' expectations.
• The company's dividend yield is 0.4% based on a quarterly dividend of $0.06, despite a negative payout ratio of -184.62%.

Glenview Trust co lowered its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 35.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 390,173 shares of the semiconductor company's stock after selling 209,812 shares during the period. Glenview Trust co's holdings in Marvell Technology were worth $24,023,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MRVL. Vanguard Group Inc. increased its position in Marvell Technology by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 63,770,122 shares of the semiconductor company's stock valued at $3,926,326,000 after acquiring an additional 1,212,338 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of 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 purchasing an additional 5,050,159 shares during the period. Brown Advisory Inc. lifted its position in shares of Marvell Technology by 2.2% in the 1st quarter. Brown Advisory Inc. now owns 19,300,527 shares of the semiconductor company's stock worth $1,188,333,000 after purchasing an additional 423,892 shares during the period. Nuveen Asset Management LLC boosted its position in Marvell Technology by 232.2% during the fourth quarter. Nuveen Asset Management LLC now owns 9,360,425 shares of the semiconductor company's stock valued at $1,033,859,000 after acquiring an additional 6,543,132 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Marvell Technology by 2.6% during the first quarter. Ameriprise Financial Inc. now owns 8,942,304 shares of the semiconductor company's stock valued at $562,991,000 after acquiring an additional 227,555 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

Marvell Technology Stock Down 0.8%

NASDAQ MRVL traded down $0.51 during trading hours on Thursday, hitting $66.59. The company's stock had a trading volume of 13,805,513 shares, compared to its average volume of 22,583,890. Marvell Technology, Inc. has a 52 week low of $47.08 and a 52 week high of $127.48. The company has a market capitalization of $57.41 billion, a PE ratio of -512.23, a price-to-earnings-growth ratio of 0.81 and a beta of 1.85. The company has a current ratio of 1.88, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30. The company's 50-day simple moving average is $72.72 and its two-hundred day simple moving average is $68.23.

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

Marvell Technology Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have commented on MRVL shares. Barclays reaffirmed an "overweight" rating and set a $80.00 price target on shares of Marvell Technology in a research report on Friday, August 29th. Rosenblatt Securities reduced their price objective on shares of Marvell Technology from $124.00 to $95.00 and set a "buy" rating for the company in a research report on Friday, August 29th. Piper Sandler reaffirmed an "overweight" rating and set a $85.00 price objective (down previously from $95.00) on shares of Marvell Technology in a research report on Friday, May 30th. B. Riley reaffirmed a "buy" rating and set a $115.00 price objective (up previously from $110.00) on shares of Marvell Technology in a research report on Wednesday, June 18th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Marvell Technology from $130.00 to $120.00 and set an "overweight" rating for the company in a research report on Friday, August 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Marvell Technology presently has a consensus rating of "Moderate Buy" and an average price target of $90.50.

Insider Activity at Marvell Technology

In related news, EVP Mark Casper sold 3,000 shares of Marvell Technology stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $72.35, for a total transaction 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. The trade was a 14.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the company's stock in a transaction dated 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 sale, the chief financial officer directly owned 121,348 shares of the company's stock, valued at $8,314,764.96. The trade was a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,783 shares of company stock valued at $407,716 over the last 90 days. Insiders own 0.19% of the company's stock.

Marvell Technology Company 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.