Magnetar Financial LLC Grows Stock Position in Marvell Technology, Inc. $MRVL

Key Points

• Magnetar Financial LLC increased its stake in Marvell Technology by 704% in the first quarter, owning 178,084 shares valued at approximately $10.97 million.
• Marvell Technology reported a revenue of $2.01 billion for the quarter, matching analysts' expectations, with a substantial 57.6% increase compared to the previous year.
• The company's stock has a market cap of $66.71 billion and is currently trading at around $77.23, after a recent increase of 3.3%.

Magnetar Financial LLC grew its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 704.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 178,084 shares of the semiconductor company's stock after purchasing an additional 155,935 shares during the quarter. Magnetar Financial LLC's holdings in Marvell Technology were worth $10,965,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of MRVL. Hughes Financial Services LLC acquired a new stake in shares of Marvell Technology in the 1st quarter worth $26,000. Rossby Financial LCC purchased a new position in Marvell Technology during the first quarter worth about $27,000. Financial Connections Group Inc. grew 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 valued at $27,000 after buying an additional 388 shares during the period. Vision Financial Markets LLC acquired a new stake in shares of Marvell Technology during the 1st quarter worth approximately $28,000. Finally, Security National Bank acquired 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.

Marvell Technology Trading Up 3.3%

NASDAQ MRVL opened at $77.23 on Friday. The firm's fifty day moving average is $74.90 and its two-hundred day moving average is $71.08. Marvell Technology, Inc. has a one year low of $47.08 and a one year high of $127.48. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 1.30. The firm has a market cap of $66.71 billion, a PE ratio of -135.49, a P/E/G ratio of 0.81 and a beta of 1.83.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its quarterly earnings results on Thursday, August 28th. The semiconductor company reported $0.67 EPS for the quarter, hitting the consensus estimate of $0.67. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%.The business had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $2.01 billion. During the same quarter in the prior year, the business earned $0.30 earnings per share. The company's quarterly revenue was up 57.6% compared to the same quarter last year. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. Analysts expect that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Friday, July 11th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Friday, July 11th. Marvell Technology's dividend payout ratio (DPR) is presently -42.11%.

Insider Buying and Selling

In other news, EVP Mark Casper sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were 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 of the company's stock, valued at $1,241,743.05. This trade represents a 14.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Panteha Dixon sold 1,283 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $68.50, for a total value of $87,885.50. Following the transaction, the chief accounting officer directly owned 29,572 shares of the company's stock, valued at $2,025,682. The trade was a 4.16% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,783 shares of company stock valued at $407,716. 0.19% of the stock is owned by insiders.

Analysts Set New Price Targets

MRVL has been the subject of several research reports. Morgan Stanley reaffirmed an "equal weight" rating on shares of Marvell Technology in a research report on Friday, August 8th. Melius lowered Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 target price for the company. in a report on Thursday, May 22nd. Wells Fargo & Company set a $95.00 price objective on Marvell Technology and gave the company an "overweight" rating in a research note on Friday, August 22nd. Redburn Atlantic began coverage on shares of Marvell Technology in a research note on Wednesday, May 28th. They issued a "neutral" rating and a $67.00 price target for the company. Finally, Loop Capital dropped their price objective on shares of Marvell Technology from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $94.70.

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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