Cresset Asset Management LLC Sells 6,821 Shares of Marvell Technology, Inc. $MRVL

Key Points

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Cresset Asset Management LLC reduced its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 12.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,244 shares of the semiconductor company's stock after selling 6,821 shares during the period. Cresset Asset Management LLC's holdings in Marvell Technology were worth $3,032,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Marvell Technology by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 63,770,122 shares of the semiconductor company's stock valued at $3,926,326,000 after buying an additional 1,212,338 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in 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 acquiring an additional 5,050,159 shares in the last quarter. Brown Advisory Inc. increased its holdings in Marvell Technology by 2.2% during the 1st quarter. Brown Advisory Inc. now owns 19,300,527 shares of the semiconductor company's stock worth $1,188,333,000 after acquiring an additional 423,892 shares during the period. Janus Henderson Group PLC increased its holdings in Marvell Technology by 6.9% during the 4th quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company's stock worth $1,462,274,000 after acquiring an additional 857,087 shares during the period. Finally, Nuveen Asset Management LLC lifted its stake in Marvell Technology by 232.2% in the 4th quarter. Nuveen Asset Management LLC now owns 9,360,425 shares of the semiconductor company's stock worth $1,033,859,000 after purchasing an additional 6,543,132 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Panteha Dixon sold 1,283 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $68.50, for a total value of $87,885.50. Following the sale, the chief accounting officer directly owned 29,572 shares of the company's stock, valued at $2,025,682. This trade represents a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark Casper sold 3,000 shares of Marvell Technology stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $72.35, for a total value of $217,050.00. Following the completion of the sale, the executive vice president owned 17,163 shares in the company, valued at approximately $1,241,743.05. This represents a 14.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,783 shares of company stock valued at $407,716 over the last ninety days. 0.33% of the stock is owned by insiders.

Marvell Technology Trading Down 6.1%

NASDAQ MRVL traded down $4.67 during trading on Tuesday, hitting $72.07. 16,930,406 shares of the company's stock traded hands, compared to its average volume of 15,413,750. The stock has a fifty day moving average of $74.52 and a two-hundred day moving average of $72.74. Marvell Technology, Inc. has a 12-month low of $47.08 and a 12-month high of $127.48. The firm has a market cap of $62.26 billion, a P/E ratio of -126.44, a PEG ratio of 0.83 and a beta of 1.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.30 and a quick ratio of 0.94.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.01. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%.The business had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.88 billion. During the same period in the previous year, the firm earned $0.24 EPS. The business's quarterly revenue was up 63.3% on a year-over-year basis. Marvell Technology has set its Q2 2026 guidance at 0.620-0.720 EPS. As a group, sell-side analysts expect that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Friday, July 11th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Friday, July 11th. Marvell Technology's dividend payout ratio is currently -42.11%.

Analysts Set New Price Targets

A number of research analysts have recently commented on MRVL shares. Bank of America boosted their price target on shares of Marvell Technology from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Redburn Atlantic assumed coverage on Marvell Technology in a research report on Wednesday, May 28th. They set a "neutral" rating and a $67.00 target price for the company. Melius cut Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 price target on the stock. in a report on Thursday, May 22nd. Rosenblatt Securities reissued a "buy" rating and set a $124.00 price objective on shares of Marvell Technology in a report on Wednesday, June 18th. Finally, The Goldman Sachs Group began coverage on shares of Marvell Technology in a research report on Thursday, July 10th. They issued a "neutral" rating and a $75.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Marvell Technology currently has an average rating of "Moderate Buy" and a consensus price target of $94.70.

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.