Comerica Bank Has $4.04 Million Holdings in Marvell Technology, Inc. $MRVL

Key Points

• Comerica Bank increased its holdings in Marvell Technology, Inc. by 16.1%, now owning 65,532 shares valued at approximately $4,035,000.
• Marvell Technology reported a 57.6% increase in quarterly revenue year-over-year, aligning with analysts' expectations of $2.01 billion.
• The stock has faced insider selling, with the CFO and EVP reducing their positions by 1.22% and 14.88%, respectively, in recent transactions.

Comerica Bank boosted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 16.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,532 shares of the semiconductor company's stock after purchasing an additional 9,104 shares during the quarter. Comerica Bank's holdings in Marvell Technology were worth $4,035,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Chelsea Counsel Co. acquired a new position in Marvell Technology during the 4th quarter worth $44,000. Bernard Wealth Management Corp. acquired a new stake in shares of Marvell Technology in the fourth quarter valued at $45,000. Hughes Financial Services LLC acquired a new stake in shares of Marvell Technology in the first quarter valued at $26,000. Financial Connections Group Inc. lifted its holdings in shares of Marvell Technology by 776.0% in the first 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. Finally, Rossby Financial LCC acquired a new stake in shares of Marvell Technology in the first quarter valued at $27,000. Institutional investors and hedge funds own 83.51% of the company's stock.

Analyst Upgrades and Downgrades

MRVL has been the subject of several research analyst reports. Bank of America restated a "neutral" rating and issued a $78.00 price objective (down previously from $90.00) on shares of Marvell Technology in a report on Friday. Jefferies Financial Group cut their price objective on Marvell Technology from $90.00 to $80.00 and set a "buy" rating for the company in a report on Friday. Morgan Stanley cut their price objective on Marvell Technology from $80.00 to $76.00 and set an "equal weight" rating for the company in a report on Friday. Barclays reaffirmed an "overweight" rating and set a $80.00 target price on shares of Marvell Technology in a report on Friday. Finally, TD Cowen upped their target price on Marvell Technology from $60.00 to $70.00 and gave the company a "buy" rating in a report on Friday, May 30th. 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $90.50.

Insider Activity at Marvell Technology

In related news, 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 transaction, the executive vice president directly owned 17,163 shares of the company's stock, valued at approximately $1,241,743.05. The trade was a 14.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $68.52, for a total value of $102,780.00. Following the transaction, the chief financial officer directly owned 121,348 shares in the company, valued at $8,314,764.96. The trade was a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,783 shares of company stock valued at $407,716. Company insiders own 0.33% of the company's stock.

Marvell Technology Stock Up 2.2%

NASDAQ:MRVL traded up $1.37 during trading hours on Tuesday, hitting $64.24. 25,406,867 shares of the company's stock traded hands, compared to its average volume of 18,850,051. The firm has a market cap of $55.49 billion, a P/E ratio of -493.25, a P/E/G ratio of 0.68 and a beta of 1.85. Marvell Technology, Inc. has a twelve month low of $47.08 and a twelve month 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 stock's fifty day moving average price is $74.53 and its two-hundred day moving average price is $69.98.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its quarterly earnings results on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share 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 11.02% and a negative net margin of 1.43%.Marvell Technology's quarterly revenue was up 57.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 earnings per share. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. On average, research analysts expect that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Friday, July 11th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Friday, July 11th. Marvell Technology's payout ratio is presently -184.62%.

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.