OMERS ADMINISTRATION Corp Sells 5,106 Shares of Marvell Technology, Inc. $MRVL

Key Points

• OMERS ADMINISTRATION Corp has reduced its stake in Marvell Technology, Inc. by 14.2%, owning 30,899 shares valued at approximately $1.9 million following the sale of 5,106 shares.
• Several hedge funds, including Truvestments Capital and Ieq Capital, have increased their holdings in Marvell Technology, reflecting a strong interest from institutional investors who own approximately 83.51% of the company.
• Wall Street analysts have mixed perspectives on Marvell's stock, with price targets ranging from $60 to $130 and a consensus rating of "Moderate Buy" with an average price target of $90.50.

OMERS ADMINISTRATION Corp cut its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 14.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,899 shares of the semiconductor company's stock after selling 5,106 shares during the period. OMERS ADMINISTRATION Corp's holdings in Marvell Technology were worth $1,902,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in MRVL. Nuveen Asset Management LLC increased its stake in shares of Marvell Technology by 232.2% during the fourth quarter. Nuveen Asset Management LLC now owns 9,360,425 shares of the semiconductor company's stock valued at $1,033,859,000 after buying an additional 6,543,132 shares during the period. Nuveen LLC purchased a new position in shares of Marvell Technology during the first quarter valued at approximately $399,587,000. Goldman Sachs Group Inc. increased its stake in shares of Marvell Technology by 32.3% during the first quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company's stock valued at $1,272,117,000 after buying an additional 5,050,159 shares during the period. Impax Asset Management Group plc increased its stake in shares of Marvell Technology by 748.3% during the first quarter. Impax Asset Management Group plc now owns 3,700,841 shares of the semiconductor company's stock valued at $227,033,000 after buying an additional 3,264,557 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of Marvell Technology by 8,128.6% during the first quarter. Assenagon Asset Management S.A. now owns 2,460,851 shares of the semiconductor company's stock valued at $151,515,000 after buying an additional 2,430,945 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Oppenheimer reissued an "outperform" rating and set a $95.00 target price on shares of Marvell Technology in a research note on Friday. Morgan Stanley reduced their price target on Marvell Technology from $80.00 to $76.00 and set an "equal weight" rating on the stock in a research note on Friday. Zacks Research cut Marvell Technology from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 26th. Bank of America reaffirmed a "neutral" rating and issued a $78.00 price target (down from $90.00) on shares of Marvell Technology in a research note on Friday. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $85.00 price target (down from $95.00) on shares of Marvell Technology in a research note on Friday, May 30th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $90.50.

Marvell Technology Stock Down 18.6%

Marvell Technology stock traded down $14.36 during mid-day trading on Friday, hitting $62.87. The company had a trading volume of 96,548,218 shares, compared to its average volume of 18,207,888. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. The stock's 50 day moving average price is $74.69 and its two-hundred day moving average price is $70.29. Marvell Technology, Inc. has a 12 month low of $47.08 and a 12 month high of $127.48. The company has a market capitalization of $54.31 billion, a PE ratio of -483.62, a price-to-earnings-growth ratio of 0.68 and a beta of 1.85.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its 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 11.02% and a negative net margin of 1.43%.The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the company posted $0.30 earnings per share. The company's revenue for the quarter 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. As a group, sell-side analysts anticipate that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Friday, July 11th were issued a $0.06 dividend. 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 -184.62%.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $68.52, for a total value of $102,780.00. Following the sale, the chief financial officer directly owned 121,348 shares of the company's stock, valued at approximately $8,314,764.96. The trade was a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Panteha Dixon sold 1,283 shares of the company's stock in a transaction on Monday, June 16th. The shares were 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 in the company, valued at approximately $2,025,682. The trade was a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,783 shares of company stock valued at $407,716. 0.33% of the stock is currently owned by corporate insiders.

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.