Marvell Technology, Inc. $MRVL Shares Bought by Salem Investment Counselors Inc.

Key Points

• Salem Investment Counselors Inc. increased its stake in Marvell Technology by 415.9% in Q2, holding 31,136 shares worth approximately $2.41 million.
• Marvell Technology's recent quarterly earnings met expectations with $0.67 EPS and a revenue of $2.01 billion, indicating a 57.6% increase year-over-year.
• Institutional investors own 83.51% of Marvell Technology's stock, with a consensus rating of "Moderate Buy" and a price target of $90.50 according to analyst reports.

Salem Investment Counselors Inc. increased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 415.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,136 shares of the semiconductor company's stock after buying an additional 25,101 shares during the quarter. Salem Investment Counselors Inc.'s holdings in Marvell Technology were worth $2,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Chelsea Counsel Co. purchased a new position in Marvell Technology during the 4th quarter worth $44,000. Bernard Wealth Management Corp. purchased a new position in Marvell Technology during the 4th quarter worth $45,000. Hughes Financial Services LLC purchased a new position in Marvell Technology during the 1st quarter worth $26,000. Financial Connections Group Inc. grew its stake in Marvell Technology by 776.0% during 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. Finally, Rossby Financial LCC acquired a new stake in Marvell Technology during the 1st quarter worth about $27,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Price Performance

NASDAQ:MRVL traded up $0.76 during trading hours on Friday, hitting $67.35. 14,848,046 shares of the stock were exchanged, compared to its average volume of 22,855,902. Marvell Technology, Inc. has a 52-week low of $47.08 and a 52-week high of $127.48. The firm's fifty day moving average price is $72.57 and its 200 day moving average price is $67.73. The company has a current ratio of 1.88, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30. The company has a market cap of $58.06 billion, a P/E ratio of -518.08, a P/E/G ratio of 0.81 and a beta of 1.85.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its quarterly earnings data 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 11.01% and a negative net margin of 1.43%.The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period in the previous year, the business earned $0.30 EPS. Marvell Technology's quarterly revenue was up 57.6% on a year-over-year basis. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. As a group, equities research analysts anticipate that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Insider Activity

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the company's stock in a transaction 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 transaction, the chief financial officer directly owned 121,348 shares in the company, valued at $8,314,764.96. This represents a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Panteha Dixon sold 1,283 shares of the company'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 owned 29,572 shares in the company, valued at $2,025,682. This trade represents a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,783 shares of company stock worth $407,716 over the last ninety days. Corporate insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

MRVL has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lowered their price target on Marvell Technology from $100.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Needham & Company LLC lowered their price target 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. Zacks Research cut Marvell Technology from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 26th. Rosenblatt Securities lowered their price target on Marvell Technology from $124.00 to $95.00 and set a "buy" rating for the company in a research report on Friday, August 29th. Finally, UBS Group lowered their price target on Marvell Technology from $110.00 to $95.00 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 assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $90.50.

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.