Great Lakes Advisors LLC Lowers Position in Marvell Technology, Inc. $MRVL

Great Lakes Advisors LLC cut its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 56.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,030 shares of the semiconductor company's stock after selling 7,902 shares during the quarter. Great Lakes Advisors LLC's holdings in Marvell Technology were worth $371,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Hughes Financial Services LLC purchased a new stake in Marvell Technology in the first quarter worth about $26,000. Rossby Financial LCC bought a new position in Marvell Technology in the first quarter worth about $27,000. Financial Connections Group Inc. raised its holdings in Marvell Technology by 776.0% in the first quarter. Financial Connections Group Inc. now owns 438 shares of the semiconductor company's stock worth $27,000 after purchasing an additional 388 shares in the last quarter. Vision Financial Markets LLC bought a new position in Marvell Technology in the first quarter worth about $28,000. Finally, Security National Bank bought a new position in Marvell Technology in the first quarter worth about $31,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $67.35 on Friday. The business's 50 day moving average price is $72.57 and its 200 day moving average price is $68.05. The firm has a market cap of $58.06 billion, a P/E ratio of -518.08, a P/E/G ratio of 0.80 and a beta of 1.85. Marvell Technology, Inc. has a 52 week low of $47.08 and a 52 week high of $127.48. The company has a quick ratio of 1.44, a current ratio of 1.88 and a debt-to-equity ratio of 0.30.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its earnings results on Thursday, August 28th. The semiconductor company reported $0.67 EPS for the quarter, meeting analysts' consensus estimates of $0.67. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.01 billion. Marvell Technology had a positive return on equity of 11.01% and a negative net margin of 1.43%.Marvell Technology's revenue for the quarter was up 57.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 earnings per share. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. On average, sell-side analysts expect that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Insider Activity at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $68.52, for a total value of $102,780.00. Following the sale, the chief financial officer owned 121,348 shares in the company, valued at approximately $8,314,764.96. This represents a 1.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Mark Casper sold 3,000 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president owned 17,163 shares in the company, valued at approximately $1,241,743.05. This represents a 14.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,783 shares of company stock worth $407,716 over the last quarter. Insiders own 0.19% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Evercore ISI reduced their target price on shares of Marvell Technology from $133.00 to $122.00 and set an "outperform" rating for the company in a report on Friday, August 29th. Needham & Company LLC reduced their target price on shares of Marvell Technology from $85.00 to $80.00 and set a "buy" rating for the company in a report on Friday, August 29th. Piper Sandler reiterated an "overweight" rating and issued a $85.00 target price (down from $95.00) on shares of Marvell Technology in a report on Friday, May 30th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $75.00 target price on shares of Marvell Technology in a report on Friday, August 29th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Marvell Technology from $100.00 to $85.00 and set a "buy" rating for the company in a report on Friday, May 30th. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $90.50.

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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