Gries Financial LLC Acquires Shares of 7,421 Marvell Technology, Inc. $MRVL

Key Points

• Gries Financial LLC acquired 7,421 shares of Marvell Technology, valued at approximately $574,000, during the second quarter of this year.
• Insider trading was noted as EVP Mark Casper sold 3,000 shares of Marvell stock, resulting in a 14.88% decrease in his position.
• Analysts have varied target price adjustments for Marvell Technology, with prices ranging from $70.00 to $90.00, and the stock currently has a consensus rating of "Moderate Buy."

Gries Financial LLC bought a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 7,421 shares of the semiconductor company's stock, valued at approximately $574,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MRVL. Harbor Capital Advisors Inc. increased its holdings in Marvell Technology by 0.8% in the second quarter. Harbor Capital Advisors Inc. now owns 19,945 shares of the semiconductor company's stock valued at $1,544,000 after purchasing an additional 151 shares during the last quarter. Synovus Financial Corp grew its position in shares of Marvell Technology by 3.5% during the 1st quarter. Synovus Financial Corp now owns 4,791 shares of the semiconductor company's stock worth $295,000 after buying an additional 161 shares during the period. Moody National Bank Trust Division increased its stake in shares of Marvell Technology by 1.1% in the 2nd quarter. Moody National Bank Trust Division now owns 16,178 shares of the semiconductor company's stock valued at $1,252,000 after acquiring an additional 182 shares during the last quarter. Garde Capital Inc. raised its position in shares of Marvell Technology by 29.3% in the 2nd quarter. Garde Capital Inc. now owns 817 shares of the semiconductor company's stock valued at $63,000 after acquiring an additional 185 shares during the period. Finally, Denali Advisors LLC boosted its stake in Marvell Technology by 2.3% during the 1st quarter. Denali Advisors LLC now owns 8,713 shares of the semiconductor company's stock worth $536,000 after acquiring an additional 200 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Marvell Technology news, EVP Mark Casper sold 3,000 shares of the stock in a transaction 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 in the company, valued at $1,241,743.05. This trade represents a 14.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on MRVL shares. 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. Jefferies Financial Group decreased their price target on shares of Marvell Technology from $90.00 to $80.00 and set a "buy" rating for the company in a report on Friday, August 29th. Morgan Stanley dropped their price objective on Marvell Technology from $80.00 to $76.00 and set an "equal weight" rating on the stock in a research note on Friday, August 29th. Evercore ISI decreased their target price on Marvell Technology from $133.00 to $122.00 and set an "outperform" rating for the company in a research note on Friday, August 29th. Finally, TD Cowen increased their price target on Marvell Technology from $60.00 to $70.00 and gave the stock 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 issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $90.50.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $74.62 on Wednesday. The stock has a market cap of $64.33 billion, a PE ratio of -574.00, a P/E/G ratio of 0.91 and a beta of 1.85. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.44 and a current ratio of 1.88. The firm has a 50-day moving average of $72.55 and a 200-day moving average of $67.30. Marvell Technology, Inc. has a 52-week low of $47.08 and a 52-week high of $127.48.

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

Marvell Technology Dividend Announcement

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 paid a $0.06 dividend. The ex-dividend date is Friday, October 10th. This represents a $0.24 annualized dividend and a yield of 0.3%. Marvell Technology's payout ratio is -184.62%.

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.

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