Knightsbridge Asset Management LLC Sells 4,664 Shares of Marvell Technology, Inc. $MRVL

Key Points

• Knightsbridge Asset Management LLC reduced its holdings in Marvell Technology by 4.2%, selling 4,664 shares and now holding a total of 106,745 shares valued at approximately $6.57 million.
• Insider transactions revealed that EVP Mark Casper sold 3,000 shares at an average price of $72.35, decreasing his ownership by 14.88%.
• Marvell Technology reported a quarterly EPS of $0.67, matching analysts' expectations, with revenue of $2.01 billion, a year-over-year increase of 57.6%.

Knightsbridge Asset Management LLC trimmed its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 4.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 106,745 shares of the semiconductor company's stock after selling 4,664 shares during the period. Marvell Technology accounts for about 1.6% of Knightsbridge Asset Management LLC's investment portfolio, making the stock its 19th largest position. Knightsbridge Asset Management LLC's holdings in Marvell Technology were worth $6,572,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Synovus Financial Corp raised its position 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 acquiring an additional 161 shares during the last quarter. Virtue Capital Management LLC grew its stake 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 period. Kolinsky Wealth Management LLC grew its stake in Marvell Technology by 3.3% in the fourth quarter. Kolinsky Wealth Management LLC now owns 5,628 shares of the semiconductor company's stock valued at $622,000 after acquiring an additional 181 shares during the period. Denali Advisors LLC grew its stake in Marvell Technology by 2.3% in the first quarter. Denali Advisors LLC now owns 8,713 shares of the semiconductor company's stock valued at $536,000 after acquiring an additional 200 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. grew its stake in Marvell Technology by 6.1% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 3,477 shares of the semiconductor company's stock valued at $214,000 after acquiring an additional 201 shares during the period. Institutional investors and hedge funds own 83.51% of the company's stock.

Wall Street Analyst Weigh In

MRVL has been the subject of several recent research reports. Bank of America reaffirmed a "neutral" rating and set a $78.00 price objective (down from $90.00) on shares of Marvell Technology in a research report on Friday, August 29th. Morgan Stanley reduced their price objective on Marvell Technology from $80.00 to $76.00 and set an "equal weight" rating for the company in a research report on Friday, August 29th. JPMorgan Chase & Co. reduced their price objective on Marvell Technology from $130.00 to $120.00 and set an "overweight" rating for the company in a research report on Friday, August 29th. Redburn Atlantic initiated coverage on Marvell Technology in a research report on Wednesday, May 28th. They set a "neutral" rating and a $67.00 price objective for the company. Finally, Needham & Company LLC reduced their price objective on Marvell Technology from $85.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, August 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Marvell Technology presently has an average rating of "Moderate Buy" and a consensus target price of $90.50.

Marvell Technology Stock Up 4.2%

MRVL traded up $2.67 on Monday, hitting $66.00. 24,379,324 shares of the company were exchanged, compared to its average volume of 21,268,870. Marvell Technology, Inc. has a 12 month low of $47.08 and a 12 month high of $127.48. The company has a market cap of $56.90 billion, a PE ratio of -507.69, a PEG ratio of 0.77 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 stock's fifty day moving average is $73.23 and its 200-day moving average is $68.47.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its quarterly earnings data on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share (EPS) for the quarter, meeting the consensus estimate 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%.The business's revenue for the quarter was up 57.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.30 earnings per share. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. Equities research analysts predict that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Friday, July 11th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, July 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. Marvell Technology's dividend payout ratio (DPR) is -184.62%.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $68.52, for a total transaction of $102,780.00. Following the sale, the chief financial officer owned 121,348 shares of the company's stock, valued at $8,314,764.96. This represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark Casper sold 3,000 shares of the business's stock in a transaction 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 directly owned 17,163 shares of the company's stock, valued at $1,241,743.05. This trade represents 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 worth $407,716. Company insiders own 0.33% of the company's stock.

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.