Allstate Corp Sells 18,560 Shares of Marvell Technology, Inc. $MRVL

Key Points

• Allstate Corp significantly reduced its stake in Marvell Technology, Inc. by 80.7% in the first quarter, now holding 4,440 shares valued at approximately $273,000.
• Institutional investors control 83.51% of Marvell Technology's stock, with various funds modifying their holdings, including Kestra Advisory Services increasing its stake by 16.5%.
• Several research analysts have recently adjusted their price targets on Marvell stock, with an average target price of $94.70 and a majority rating it as a Moderate Buy.

Allstate Corp cut its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 80.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,440 shares of the semiconductor company's stock after selling 18,560 shares during the period. Allstate Corp's holdings in Marvell Technology were worth $273,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Marvell Technology during the fourth quarter worth $234,000. Dynamic Advisor Solutions LLC grew its stake in Marvell Technology by 5.0% in the first quarter. Dynamic Advisor Solutions LLC now owns 4,313 shares of the semiconductor company's stock valued at $266,000 after acquiring an additional 206 shares during the period. Yousif Capital Management LLC grew its stake in Marvell Technology by 8.4% in the first quarter. Yousif Capital Management LLC now owns 15,057 shares of the semiconductor company's stock valued at $927,000 after acquiring an additional 1,164 shares during the period. Credit Agricole S A grew its stake in Marvell Technology by 27.7% in the first quarter. Credit Agricole S A now owns 585,947 shares of the semiconductor company's stock valued at $36,077,000 after acquiring an additional 127,169 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in Marvell Technology by 32.3% in 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 during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Marvell Technology

In other news, EVP Mark Casper sold 3,000 shares of the stock in a transaction 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 transaction, the executive vice president directly owned 17,163 shares in the company, valued at approximately $1,241,743.05. This represents a 14.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $68.52, for a total value of $102,780.00. Following the completion of the transaction, the chief financial officer owned 121,348 shares of the company's stock, valued at $8,314,764.96. The trade was a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,783 shares of company stock valued at $407,716. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MRVL. UBS Group cut their price target on Marvell Technology from $110.00 to $95.00 and set a "buy" rating on the stock in a report on Friday. Melius lowered Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 target price on the stock. in a report on Thursday, May 22nd. Oppenheimer reiterated an "outperform" rating and set a $95.00 target price on shares of Marvell Technology in a report on Friday. B. Riley reiterated a "buy" rating and set a $115.00 target price (up previously from $110.00) on shares of Marvell Technology in a report on Wednesday, June 18th. Finally, Wall Street Zen lowered Marvell Technology from a "buy" rating to a "hold" rating in a research note on Sunday, August 17th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Marvell Technology has an average rating of "Moderate Buy" and an average target price of $90.97.

Marvell Technology Price Performance

NASDAQ:MRVL traded down $14.45 during trading hours on Friday, reaching $62.78. 73,679,081 shares of the company were exchanged, compared to its average volume of 18,646,596. The company has a market capitalization of $54.23 billion, a P/E ratio of -110.21, a P/E/G ratio of 0.81 and a beta of 1.83. Marvell Technology, Inc. has a 1-year low of $47.08 and a 1-year high of $127.48. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.30 and a quick ratio of 0.94. The business has a 50 day moving average of $74.90 and a 200 day moving average of $71.08.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its earnings results on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share for the quarter, meeting analysts' consensus estimates of $0.67. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.01 billion. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%.The company's revenue was up 57.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 EPS. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. Research analysts forecast that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, July 11th. Marvell Technology's dividend payout ratio (DPR) is currently -42.11%.

Marvell Technology Company 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.