Guggenheim Capital LLC Sells 74,904 Shares of Marvell Technology, Inc. $MRVL

Key Points

• Guggenheim Capital LLC sold 74,904 shares of Marvell Technology, reducing its holdings by 19.5%, now owning a total of 310,056 shares valued at approximately $19 million.
• Several hedge funds increased their positions in Marvell Technology, with CreativeOne Wealth LLC raising its stake by 8.5% and FORA Capital LLC by 231.7% during the first quarter.
• Marvell Technology reported earnings per share of $0.62 for the most recent quarter, exceeding analysts' expectations and showing a 63.3% increase in revenue year-over-year.

Guggenheim Capital LLC lessened its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 19.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 310,056 shares of the semiconductor company's stock after selling 74,904 shares during the period. Guggenheim Capital LLC's holdings in Marvell Technology were worth $19,090,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hughes Financial Services LLC purchased a new position in shares of Marvell Technology in the 1st quarter worth approximately $26,000. Rossby Financial LCC purchased a new position in shares of Marvell Technology in the 1st quarter worth approximately $27,000. Financial Connections Group Inc. boosted its stake in shares of Marvell Technology by 776.0% in the 1st 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 last quarter. Vision Financial Markets LLC purchased a new position in Marvell Technology in the first quarter valued at approximately $28,000. Finally, Security National Bank purchased a new position in Marvell Technology in the first quarter valued at approximately $31,000. Hedge funds and other institutional investors own 83.51% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on MRVL shares. Barclays reiterated an "overweight" rating and issued a $80.00 price objective on shares of Marvell Technology in a research note on Friday. KeyCorp dropped their price objective on Marvell Technology from $115.00 to $90.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. The Goldman Sachs Group started coverage on Marvell Technology in a research note on Thursday, July 10th. They issued a "neutral" rating and a $75.00 price objective on the stock. Zacks Research downgraded Marvell Technology from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 26th. Finally, Redburn Atlantic initiated coverage on Marvell Technology in a research note on Wednesday, May 28th. They issued a "neutral" rating and a $67.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Marvell Technology has a consensus rating of "Moderate Buy" and an average target price of $90.50.

Insider Transactions at Marvell Technology

In other news, CAO Panteha Dixon sold 1,283 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $68.50, for a total value of $87,885.50. Following the transaction, the chief accounting officer owned 29,572 shares of the company's stock, valued at approximately $2,025,682. This represents a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark Casper sold 3,000 shares of the company's 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 completion of the transaction, the executive vice president directly owned 17,163 shares in the company, valued at approximately $1,241,743.05. The trade was a 14.88% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,783 shares of company stock valued at $407,716. 0.19% of the stock is currently owned by company insiders.

Marvell Technology Stock Performance

MRVL stock traded down $14.36 during midday trading on Friday, reaching $62.87. 96,548,218 shares of the company's stock traded hands, compared to its average volume of 14,810,202. The firm has a market capitalization of $54.31 billion, a PE ratio of -483.62, a price-to-earnings-growth ratio of 0.68 and a beta of 1.83. Marvell Technology, Inc. has a 52 week low of $47.08 and a 52 week high of $127.48. The company has a 50-day moving average price of $74.69 and a two-hundred day moving average price of $70.52. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 1.30.

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 firm 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 11.02%. The business's quarterly revenue was up 57.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 earnings per share. 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 year.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Friday, July 11th were issued a $0.06 dividend. 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 dividend payout ratio is presently -184.62%.

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.