9,825 Shares in Marvell Technology, Inc. $MRVL Acquired by Norway Savings Bank

Key Points

• Norway Savings Bank acquired a new stake in Marvell Technology, Inc. valued at approximately $760,000, purchasing 9,825 shares in the second quarter.
• Institutional investors currently own 83.51% of Marvell Technology's stock, indicating significant interest from hedge funds and investment firms.
• Marvell Technology reported a quarterly earnings per share (EPS) of $0.67, meeting expectations, with a revenue of $2.01 billion, a 57.6% increase from the previous year.

Norway Savings Bank acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,825 shares of the semiconductor company's stock, valued at approximately $760,000.

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

Insider Buying and Selling at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer owned 121,348 shares in the company, valued at $8,314,764.96. This trade represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Panteha Dixon sold 1,283 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $68.50, for a total value 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. This represents a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,783 shares of company stock valued at $407,716. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MRVL has been the subject of a number of recent research reports. Zacks Research downgraded shares of Marvell Technology from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 26th. Jefferies Financial Group decreased their price objective on shares of Marvell Technology from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, August 29th. TD Cowen increased their target price on Marvell Technology from $60.00 to $70.00 and gave the company a "buy" rating in a report on Friday, May 30th. Rosenblatt Securities cut their price target on Marvell Technology from $124.00 to $95.00 and set a "buy" rating on the stock in a research note on Friday, August 29th. Finally, Evercore ISI lowered their price objective on Marvell Technology from $133.00 to $122.00 and set an "outperform" rating for the company in a research report on Friday, August 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $90.50.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL traded up $0.76 during trading hours on Friday, reaching $67.35. The stock had a trading volume of 14,848,046 shares, compared to its average volume of 22,855,902. The firm has a 50-day moving average of $72.57 and a 200-day moving average of $67.73. The firm has a market cap of $58.06 billion, a price-to-earnings ratio of -518.08, a PEG ratio of 0.81 and a beta of 1.85. 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 fifty-two week low of $47.08 and a fifty-two week high of $127.48.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its earnings results on Thursday, August 28th. The semiconductor company reported $0.67 EPS for the quarter, meeting analysts' consensus estimates 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 company's quarterly revenue was up 57.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 EPS. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. Equities research analysts predict that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

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.