Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 407.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,079 shares of the semiconductor company's stock after buying an additional 4,078 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Marvell Technology were worth $313,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of MRVL. Synovus Financial Corp grew its holdings in shares of Marvell Technology by 3.5% during the first quarter. Synovus Financial Corp now owns 4,791 shares of the semiconductor company's stock worth $295,000 after purchasing an additional 161 shares during the last quarter. Virtue Capital Management LLC grew its holdings in shares of Marvell Technology by 2.1% during the fourth quarter. Virtue Capital Management LLC now owns 7,752 shares of the semiconductor company's stock worth $856,000 after purchasing an additional 163 shares during the last quarter. Kolinsky Wealth Management LLC grew its holdings in shares of Marvell Technology by 3.3% during the fourth quarter. Kolinsky Wealth Management LLC now owns 5,628 shares of the semiconductor company's stock worth $622,000 after purchasing an additional 181 shares during the last quarter. Denali Advisors LLC grew its holdings in shares of Marvell Technology by 2.3% during the first quarter. Denali Advisors LLC now owns 8,713 shares of the semiconductor company's stock worth $536,000 after purchasing an additional 200 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC grew its holdings in shares of Marvell Technology by 5.0% during the first quarter. Dynamic Advisor Solutions LLC now owns 4,313 shares of the semiconductor company's stock worth $266,000 after purchasing an additional 206 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on MRVL. Cantor Fitzgerald restated a "neutral" rating and set a $75.00 price target on shares of Marvell Technology in a report on Friday. Jefferies Financial Group reduced their price target on Marvell Technology from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Friday. TD Cowen boosted 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. Loop Capital reduced their price target on Marvell Technology from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Finally, Rosenblatt Securities reduced their price target on Marvell Technology from $124.00 to $95.00 and set a "buy" rating on the stock in a report on Friday. One equities 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $90.50.
Read Our Latest Stock Report on Marvell Technology
Insiders Place Their Bets
In other Marvell Technology news, CAO Panteha Dixon sold 1,283 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $68.50, for a total transaction of $87,885.50. Following the transaction, the chief accounting officer directly owned 29,572 shares in the company, valued at approximately $2,025,682. This represents a 4.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Casper sold 3,000 shares of the 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 transaction, the executive vice president owned 17,163 shares in the company, valued at $1,241,743.05. The trade was a 14.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,783 shares of company stock worth $407,716. Corporate insiders own 0.19% of the company's stock.
Marvell Technology Trading Down 18.6%
MRVL stock traded down $14.36 during trading on Friday, hitting $62.87. The company had a trading volume of 96,548,218 shares, compared to its average volume of 14,810,202. The business has a 50-day moving average of $74.69 and a 200-day moving average of $70.52. Marvell Technology, Inc. has a one year low of $47.08 and a one year high of $127.48. The stock has a market cap of $54.31 billion, a PE ratio of -483.62, a PEG ratio of 0.68 and a beta of 1.83. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22.
Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its earnings results on Thursday, August 28th. The semiconductor company reported $0.67 EPS 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 positive return on equity of 11.02% and a negative net margin of 1.43%.The firm's revenue was up 57.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 earnings per share. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. Research analysts predict that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.
Marvell Technology Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Friday, July 11th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Friday, July 11th. Marvell Technology's dividend payout ratio is presently -184.62%.
About Marvell Technology
(
Free Report)
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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