Marvell Technology, Inc. $MRVL Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Marvell Technology by 1.7% in the first quarter, owning approximately 6 million shares valued at $370 million after selling 102,490 shares.
• Multiple analysts have adjusted their price targets for Marvell Technology, with Evercore ISI lowering theirs from $135 to $133, while Bank of America increased its target from $80 to $90, indicating varying confidence in the stock.
• Marvell Technology reported a quarterly earnings per share (EPS) of $0.62, surpassing estimates and reflecting a year-over-year revenue increase of 63.3%, driven by strong performance in the semiconductor sector.

Northern Trust Corp lessened its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,011,996 shares of the semiconductor company's stock after selling 102,490 shares during the quarter. Northern Trust Corp owned about 0.70% of Marvell Technology worth $370,159,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Brooklyn Investment Group increased its holdings in shares of Marvell Technology by 16.1% in the first quarter. Brooklyn Investment Group now owns 5,515 shares of the semiconductor company's stock valued at $339,000 after purchasing an additional 764 shares during the last quarter. Freestone Capital Holdings LLC acquired a new stake in shares of Marvell Technology in the first quarter valued at approximately $2,686,000. 17 Capital Partners LLC increased its holdings in shares of Marvell Technology by 202.4% in the first quarter. 17 Capital Partners LLC now owns 12,850 shares of the semiconductor company's stock valued at $791,000 after purchasing an additional 8,600 shares during the last quarter. Corient IA LLC purchased a new position in Marvell Technology in the first quarter worth approximately $246,000. Finally, Northwest & Ethical Investments L.P. purchased a new position in Marvell Technology in the first quarter worth approximately $16,346,000. Institutional investors and hedge funds own 83.51% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MRVL. Evercore ISI lowered their price objective on Marvell Technology from $135.00 to $133.00 and set an "outperform" rating for the company in a research report on Friday, May 30th. China Renaissance began coverage on Marvell Technology in a research report on Thursday, June 5th. They issued a "buy" rating and a $110.00 price objective for the company. KeyCorp lowered their price objective on Marvell Technology from $115.00 to $90.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. TD Cowen increased their price objective on Marvell Technology from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Finally, Bank of America increased their price objective on Marvell Technology from $80.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $94.70.

Marvell Technology Trading Down 6.1%

MRVL opened at $72.07 on Wednesday. Marvell Technology, Inc. has a 52 week low of $47.08 and a 52 week high of $127.48. The business has a fifty day simple moving average of $74.52 and a 200-day simple moving average of $72.74. The firm has a market cap of $62.26 billion, a P/E ratio of -126.44, a P/E/G ratio of 0.83 and a beta of 1.83. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 0.22.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the business posted $0.24 earnings per share. The company'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. On average, equities analysts expect that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Dividend Announcement

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

Insider Transactions at Marvell Technology

In other news, EVP Mark Casper sold 3,000 shares of the firm'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 completion of the transaction, the executive vice president directly owned 17,163 shares in the company, valued at $1,241,743.05. This trade represents a 14.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Panteha Dixon sold 1,283 shares of the firm'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 of the company's stock, valued at approximately $2,025,682. This represents a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,783 shares of company stock worth $407,716 over the last ninety days. Company insiders own 0.33% of the company's stock.

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.

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