MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Stake in Marvell Technology, Inc. $MRVL

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its ownership in Marvell Technology, Inc. by 74.9%, now holding approximately 1,070,002 shares valued at about $65,939,000.
• Marvell Technology reported its latest earnings, achieving $0.67 earnings per share, matching expectations, with revenue growing 57.6% year-over-year to $2.01 billion.
• Analysts have mixed views on Marvell, with a consensus target price of $90.50, and ratings ranging from Strong Buy to Sell among various firms.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 74.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,070,002 shares of the semiconductor company's stock after acquiring an additional 458,380 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.12% of Marvell Technology worth $65,939,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MRVL. Synovus Financial Corp grew its position in Marvell Technology by 3.5% during the first quarter. Synovus Financial Corp now owns 4,791 shares of the semiconductor company's stock worth $295,000 after buying an additional 161 shares in the last quarter. Virtue Capital Management LLC raised its position in Marvell Technology by 2.1% in the 4th quarter. Virtue Capital Management LLC now owns 7,752 shares of the semiconductor company's stock worth $856,000 after purchasing an additional 163 shares during the last quarter. Kolinsky Wealth Management LLC raised its position in Marvell Technology by 3.3% in the 4th quarter. Kolinsky Wealth Management LLC now owns 5,628 shares of the semiconductor company's stock worth $622,000 after purchasing an additional 181 shares during the last quarter. Denali Advisors LLC raised its position in shares of Marvell Technology by 2.3% during the 1st quarter. Denali Advisors LLC now owns 8,713 shares of the semiconductor company's stock valued at $536,000 after acquiring an additional 200 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. raised its position in shares of Marvell Technology by 6.1% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 3,477 shares of the semiconductor company's stock valued at $214,000 after acquiring an additional 201 shares during the last quarter. 83.51% of the stock is owned by institutional investors.

Insider Transactions at Marvell Technology

In other news, CAO Panteha Dixon sold 1,283 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $68.50, for a total transaction of $87,885.50. Following the completion of the sale, the chief accounting officer directly owned 29,572 shares of the company's stock, valued at $2,025,682. The trade was a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $68.52, for a total transaction of $102,780.00. Following the completion of the sale, the chief financial officer directly 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. Insiders sold a total of 5,783 shares of company stock valued at $407,716 over the last three months. Corporate insiders own 0.33% of the company's stock.

Marvell Technology Trading Up 4.2%

NASDAQ MRVL traded up $2.67 during mid-day trading on Monday, reaching $66.00. 24,379,324 shares of the stock were exchanged, compared to its average volume of 21,268,870. Marvell Technology, Inc. has a one year low of $47.08 and a one year high of $127.48. The stock has a 50 day simple moving average of $73.23 and a 200-day simple moving average of $68.47. The stock has a market cap of $56.90 billion, a P/E ratio of -507.69, a P/E/G ratio of 0.77 and a beta of 1.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.88 and a quick ratio of 1.44.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its quarterly earnings results on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share for the quarter, meeting the consensus estimate of $0.67. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.01 billion. Marvell Technology had a negative net margin of 1.43% and a positive return on equity of 11.01%. The business's revenue was up 57.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 earnings per share. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. On average, analysts anticipate that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Friday, July 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. Marvell Technology's payout ratio is presently -184.62%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MRVL shares. KeyCorp decreased their price target on shares of Marvell Technology from $115.00 to $90.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Susquehanna reduced their price objective on shares of Marvell Technology from $110.00 to $90.00 and set a "positive" rating for the company in a research note on Tuesday, May 27th. Raymond James Financial reaffirmed an "outperform" rating and issued a $90.00 target price (down from $110.00) on shares of Marvell Technology in a report on Friday, May 30th. Loop Capital decreased their target price on shares of Marvell Technology from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Finally, Barclays reiterated an "overweight" rating and set a $80.00 price target on shares of Marvell Technology in a research report on Friday, August 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Marvell Technology currently has an average rating of "Moderate Buy" and an average target price of $90.50.

About Marvell Technology

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.