GRIMES & Co WEALTH MANAGEMENT LLC Makes New $1.82 Million Investment in Marvell Technology, Inc. $MRVL

GRIMES & Co WEALTH MANAGEMENT LLC acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 6,882 shares of the semiconductor company's stock, valued at approximately $1,818,000.

A number of other institutional investors have also recently modified their holdings of MRVL. Blue Bell Private Wealth Management LLC bought a new stake in Marvell Technology during the third quarter worth about $55,000. Signature Equity Partners LLC bought a new stake in shares of Marvell Technology during the third quarter worth $522,000. Summit Wealth Group LLC Co. acquired a new position in Marvell Technology in the 3rd quarter worth about $530,000. SilverOak Wealth Management LLC acquired a new position in shares of Marvell Technology in the third quarter valued at approximately $1,521,000. Finally, Salomon & Ludwin LLC acquired a new position in Marvell Technology in the 3rd quarter valued at approximately $172,000. 83.51% of the stock is currently owned by institutional investors.

Insider Activity at Marvell Technology

In other news, CAO Justin Scarpulla sold 1,100 shares of the firm's stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $273.59, for a total transaction of $300,949.00. Following the completion of the sale, the chief accounting officer owned 909 shares in the company, valued at $248,693.31. This trade represents a 54.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Matthew J. Murphy sold 7,500 shares of Marvell Technology stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $223.39, for a total transaction of $1,675,425.00. Following the completion of the sale, the chief executive officer directly owned 775,686 shares in the company, valued at $173,280,495.54. This trade represents a 0.96% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 57,285 shares of company stock valued at $12,901,763 in the last three months. Insiders own 0.12% of the company's stock.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $171.97 on Wednesday. The firm has a market capitalization of $150.80 billion, a P/E ratio of 56.76, a P/E/G ratio of 5.11 and a beta of 2.32. The firm's 50-day moving average price is $240.15 and its 200-day moving average price is $183.26. The company has a current ratio of 3.17, a quick ratio of 2.62 and a debt-to-equity ratio of 0.27. Marvell Technology, Inc. has a 1-year low of $70.68 and a 1-year high of $329.88.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings data on Thursday, August 27th. The semiconductor company reported $0.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.01. The firm had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.72 billion. Marvell Technology had a net margin of 27.93% and a return on equity of 13.57%. The business's revenue was up 36.5% on a year-over-year basis. During the same period last year, the company earned $0.67 earnings per share. Marvell Technology has set its Q3 2027 guidance at 1.050-1.150 EPS. Equities research analysts anticipate that Marvell Technology, Inc. will post 3.05 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 29th. Shareholders of record on Friday, October 9th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, October 9th. This represents a $0.24 annualized dividend and a yield of 0.1%. Marvell Technology's payout ratio is currently 7.92%.

Trending Headlines about Marvell Technology

Here are the key news stories impacting Marvell Technology this week:

• Positive Sentiment: The proposed all-stock acquisition of Lumentum would combine Marvell’s custom chips and networking products with Lumentum’s optical technology for AI data centers. Marvell expects more than $1 billion in annual cost savings and says the deal could increase adjusted earnings per share in its first year after closing. Read More.
• Positive Sentiment: Some analysts continue to see upside: BMO kept its Buy rating and $325 target, while UBS maintained its Buy rating and $350 target, viewing the deal as supportive of Marvell’s optical-networking opportunity. Read More. Read More.
• Neutral Sentiment: Shares recovered some ground as chip stocks bounced following a sharp selloff, though the rebound followed pronounced losses tied to the acquisition announcement. Read More.
• Neutral Sentiment: COO Chris Koopmans sold 10,000 shares under a pre-arranged Rule 10b5-1 trading plan; he retained 202,800 shares, making the transaction less clearly a signal about near-term prospects. Read More.
• Negative Sentiment: Downgrades and steep target cuts highlighted concerns about dilution, regulatory approval, potential customer conflicts, and execution. BofA cut its rating to Neutral and TD Cowen moved to Hold, with both sharply reducing their targets. Read More. Read More.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MRVL shares. DA Davidson set a $225.00 price objective on Marvell Technology in a research report on Tuesday, August 18th. Evercore reissued an "outperform" rating and issued a $433.00 price objective on shares of Marvell Technology in a research note on Tuesday, October 6th. Bank of America lowered Marvell Technology from a "buy" rating to a "neutral" rating and cut their target price for the company from $400.00 to $225.00 in a research report on Tuesday. JPMorgan Chase & Co. raised their target price on Marvell Technology from $305.00 to $360.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 7th. Finally, Wolfe Research lifted their target price on Marvell Technology from $280.00 to $375.00 and gave the stock an "outperform" rating in a report on Wednesday, October 7th. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $300.85.

Marvell Technology Profile

Marvell Technology, Inc NASDAQ: MRVL is a semiconductor company that develops infrastructure solutions for data centers, telecommunications networks, enterprise systems, automotive applications and other connected markets. Its products are designed to support the movement, processing, storage and security of data across complex computing and communications environments.

The company's portfolio includes data-processing and networking processors, custom application-specific integrated circuits, Ethernet switches and controllers, storage controllers, connectivity products, and electro-optics solutions.

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