Marvell Technology, Inc. $MRVL Shares Newly Purchased by First Pacific Financial

Key Points

• First Pacific Financial purchased 8,074 Marvell shares worth approximately $2.13 million in the third quarter, while institutional investors collectively own 83.51% of the company.
• Analysts remain broadly bullish, with Marvell receiving a consensus “Moderate Buy” rating and an average price target of $327.36; several firms recently raised their targets.
• Marvell raised its fiscal 2028 revenue target to approximately $20 billion, driven by custom silicon, AI connectivity and optical products, though the stock’s high valuation and recent AI-sector selloff increase downside sensitivity.

First Pacific Financial bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,074 shares of the semiconductor company's stock, valued at approximately $2,133,000.

A number of other institutional investors have also recently added to or reduced their stakes in MRVL. BlackRock Inc. grew its holdings in shares of Marvell Technology by 34.1% during the 2nd quarter. BlackRock Inc. now owns 85,641,174 shares of the semiconductor company's stock worth $25,511,649,000 after purchasing an additional 21,798,190 shares during the period. State Street Corp boosted its holdings in Marvell Technology by 79.3% in the 2nd quarter. State Street Corp now owns 41,834,272 shares of the semiconductor company's stock worth $12,462,011,000 after acquiring an additional 18,495,866 shares during the period. Bank of America Corp DE purchased a new position in Marvell Technology in the 2nd quarter worth approximately $2,607,795,000. Legal & General Group Plc acquired a new stake in Marvell Technology in the second quarter valued at approximately $1,742,526,000. Finally, Bank of New York Mellon Corp grew its position in Marvell Technology by 153.3% in the second quarter. Bank of New York Mellon Corp now owns 7,957,985 shares of the semiconductor company's stock valued at $2,370,604,000 after acquiring an additional 4,815,725 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Analysts Set New Price Targets

MRVL has been the topic of a number of analyst reports. Piper Sandler lifted their price objective on shares of Marvell Technology from $270.00 to $400.00 and gave the company an "overweight" rating in a research note on Wednesday, October 7th. Citigroup upped their target price on shares of Marvell Technology from $225.00 to $275.00 and gave the company a "buy" rating in a research note on Friday, August 21st. Erste Group Bank downgraded shares of Marvell Technology from a "buy" rating to a "hold" rating in a research note on Wednesday, July 15th. Wells Fargo & Company raised their price target on shares of Marvell Technology from $310.00 to $365.00 and gave the company an "overweight" rating in a report on Wednesday, October 7th. Finally, Morgan Stanley raised their price target on shares of Marvell Technology from $268.00 to $300.00 and gave the company an "equal weight" rating in a report on Wednesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, Marvell Technology currently has an average rating of "Moderate Buy" and a consensus target price of $327.36.

Trending Headlines about Marvell Technology

Here are the key news stories impacting Marvell Technology this week:

• Positive Sentiment: Marvell raised its fiscal 2028 revenue target to approximately $20 billion, above Wall Street’s prior estimate of $18.2 billion. Management also outlined a potential $70 billion–$90 billion revenue opportunity by fiscal 2031, supported by custom silicon, AI connectivity and optical products. Marvell Raises Its 2028 Revenue Target
• Positive Sentiment: The company introduced new connectivity products, including a 3.2-terabit protocol-aware retimer and a second-generation 1.6-terabit active electrical cable DSP, aimed at the bandwidth and power-efficiency needs of AI data centers. It also announced six-channel CXL memory expansion solutions for AI accelerators. Marvell Bolsters Connectivity Portfolio
• Positive Sentiment: Marvell, Microsoft and Oracle formed an Open Compute Project working group to develop standardized hardware security specifications for hyperscale data centers, strengthening Marvell’s relationships with major cloud customers. Marvell, Microsoft and Oracle Establish Security Group
• Positive Sentiment: Erste Group raised its fiscal 2028 EPS estimate for Marvell to $6.10 from $5.38, reflecting improving expectations for the company’s growth trajectory.
• Neutral Sentiment: Analysts and financial commentators remain broadly optimistic, citing Marvell’s custom silicon and connectivity exposure, but the stock’s rapid year-to-date appreciation has increased expectations and sensitivity to disappointing news. Broadcom Versus Marvell Technology
• Negative Sentiment: MRVL was pressured by a wider AI-chip selloff, investor caution ahead of inflation data and profit-taking following its large rally. The stock also faced reports of insider selling, adding to near-term sentiment concerns. Marvell Stock Price Down After Insider Selling

Marvell Technology Trading Down 8.7%

Shares of MRVL opened at $245.28 on Thursday. Marvell Technology, Inc. has a one year low of $70.68 and a one year high of $329.88. The stock has a 50-day moving average price of $240.34 and a 200 day moving average price of $215.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.62 and a current ratio of 3.17. The company has a market capitalization of $215.09 billion, a P/E ratio of 80.95, a P/E/G ratio of 8.01 and a beta of 2.26.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its quarterly earnings data on Thursday, August 27th. The semiconductor company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.01. Marvell Technology had a return on equity of 13.57% and a net margin of 27.93%. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.72 billion. During the same period in the previous year, the business earned $0.67 EPS. Marvell Technology's revenue for the quarter was up 36.5% compared to the same quarter last year. Marvell Technology has set its Q3 2027 guidance at 1.050-1.150 EPS. Sell-side analysts forecast that Marvell Technology, Inc. will post 3.05 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 29th. Stockholders of record on Friday, October 9th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.1%. Marvell Technology's dividend payout ratio (DPR) is presently 7.92%.

Insider Transactions at Marvell Technology

In related news, COO Chris Koopmans sold 10,000 shares of the company's stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $262.05, for a total value of $2,620,500.00. Following the sale, the chief operating officer directly owned 207,941 shares of the company's stock, valued at $54,490,939.05. This represents a 4.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Justin Scarpulla sold 1,100 shares of the stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $273.59, for a total transaction of $300,949.00. Following the transaction, the chief accounting officer owned 909 shares in the company, valued at $248,693.31. This trade represents a 54.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 46,100 shares of company stock valued at $10,205,174. 0.12% of the stock is currently owned by corporate insiders.

About Marvell Technology

Marvell Technology, Inc NASDAQ: MRVL is a fabless semiconductor company that develops technologies for data infrastructure. Its products are used to move, process, store and secure data across cloud data centers, enterprise networks, telecommunications systems, automotive platforms and other communications applications.

The company's portfolio includes custom application-specific integrated circuits, data processing and networking solutions, Ethernet products, storage controllers, optical and electro-optical components, and connectivity technologies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.