Marvell Technology, Inc. $MRVL Shares Sold by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management LLC reduced its holdings in Marvell Technology by 27.1%, owning 13,116 shares valued at $986,000 following a sale of 4,868 shares.
• Marvell Technology reported $2.01 billion in revenue and $0.67 earnings per share for the last quarter, meeting analysts' expectations and reflecting a 57.6% increase compared to the same quarter last year.
• The company revealed a $0.06 quarterly dividend to be paid on October 30th, which represents a 0.3% yield despite a negative payout ratio of -184.62%.

NorthCrest Asset Manangement LLC lowered its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 27.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,116 shares of the semiconductor company's stock after selling 4,868 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Marvell Technology were worth $986,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Nuveen LLC bought a new position in shares of Marvell Technology in the 1st quarter valued at $399,587,000. Goldman Sachs Group Inc. increased its holdings in Marvell Technology by 32.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company's stock worth $1,272,117,000 after purchasing an additional 5,050,159 shares in the last quarter. Impax Asset Management Group plc raised its position in Marvell Technology by 748.3% in the first quarter. Impax Asset Management Group plc now owns 3,700,841 shares of the semiconductor company's stock valued at $227,033,000 after purchasing an additional 3,264,557 shares during the last quarter. AQR Capital Management LLC raised its position in Marvell Technology by 662.9% in the first quarter. AQR Capital Management LLC now owns 3,119,855 shares of the semiconductor company's stock valued at $187,566,000 after purchasing an additional 2,710,894 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Marvell Technology by 8,128.6% during the first quarter. Assenagon Asset Management S.A. now owns 2,460,851 shares of the semiconductor company's stock valued at $151,515,000 after purchasing an additional 2,430,945 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Marvell Technology news, EVP Mark Casper sold 3,000 shares of Marvell Technology stock in a transaction on Friday, July 18th. The shares were sold at an average price of $72.35, for a total value of $217,050.00. Following the sale, the executive vice president directly owned 17,163 shares in the company, valued at approximately $1,241,743.05. The trade was a 14.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on MRVL. Benchmark reaffirmed a "buy" rating and issued a $95.00 price objective on shares of Marvell Technology in a research note on Friday, August 29th. Barclays reaffirmed an "overweight" rating and set a $80.00 price target on shares of Marvell Technology in a research note on Friday, August 29th. China Renaissance assumed coverage on shares of Marvell Technology in a research note on Thursday, June 5th. They set a "buy" rating and a $110.00 price target for the company. Susquehanna dropped their price target 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. Finally, Rosenblatt Securities dropped their price target on shares of Marvell Technology from $124.00 to $95.00 and set a "buy" rating for the company in a research note on Friday, August 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Marvell Technology has a consensus rating of "Moderate Buy" and an average target price of $90.50.

Marvell Technology Price Performance

Shares of Marvell Technology stock traded up $1.49 on Monday, hitting $75.75. 11,481,806 shares of the company traded hands, compared to its average volume of 19,205,432. The company has a current ratio of 1.88, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 12-month low of $47.08 and a 12-month high of $127.48. The firm's 50-day simple moving average is $72.45 and its 200 day simple moving average is $67.22. The company has a market cap of $65.30 billion, a P/E ratio of -583.22, a P/E/G ratio of 0.90 and a beta of 1.85.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released 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 business had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $2.01 billion. Marvell Technology had a negative net margin of 1.43% and a positive return on equity of 11.01%. The firm's revenue for the quarter was up 57.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 earnings per share. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. Analysts expect that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 30th. Investors of record on Friday, October 10th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, October 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. Marvell Technology's payout ratio is -184.62%.

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.