Parallel Advisors LLC Grows Stock Holdings in Marvell Technology, Inc. $MRVL

Key Points

• Parallel Advisors LLC has increased its holdings in Marvell Technology, Inc. by 149.7%, owning 23,657 shares valued at approximately $1.83 million after acquiring an additional 14,184 shares.
• A number of analysts have lowered their price targets for Marvell's stock, with Needham & Company adjusting their target from $85.00 to $80.00, while Bank of America reduced theirs from $90.00 to $78.00.
• Marvell Technology reported earnings of $0.67 per share for the last quarter, meeting analysts' expectations and reflecting a 57.6% increase in revenue compared to the same quarter last year.

Parallel Advisors LLC increased its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 149.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,657 shares of the semiconductor company's stock after acquiring an additional 14,184 shares during the period. Parallel Advisors LLC's holdings in Marvell Technology were worth $1,831,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Hughes Financial Services LLC purchased a new stake in Marvell Technology in the 1st quarter worth $26,000. Rossby Financial LCC bought a new position in Marvell Technology in the 1st quarter worth about $27,000. Financial Connections Group Inc. boosted its stake in shares of Marvell Technology by 776.0% during the first quarter. Financial Connections Group Inc. now owns 438 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 388 shares in the last quarter. Vision Financial Markets LLC acquired a new stake in Marvell Technology in the first quarter valued at approximately $28,000. Finally, Security National Bank purchased a new position in shares of Marvell Technology in the first quarter worth $31,000. Institutional investors own 83.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MRVL shares. Needham & Company LLC cut their price objective on shares of Marvell Technology from $85.00 to $80.00 and set a "buy" rating for the company in a report on Friday, August 29th. Bank of America reaffirmed a "neutral" rating and set a $78.00 target price (down from $90.00) on shares of Marvell Technology in a research note on Friday, August 29th. Wells Fargo & Company reduced their price target on shares of Marvell Technology from $95.00 to $90.00 and set an "overweight" rating on the stock in a research note on Friday, August 29th. Susquehanna lowered their price target on shares of Marvell Technology from $110.00 to $90.00 and set a "positive" rating for the company in a report on Tuesday, May 27th. Finally, Jefferies Financial Group lowered their target price on shares of Marvell Technology from $90.00 to $80.00 and set a "buy" rating for the company in a report on Friday, August 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $90.50.

Insider Activity at Marvell Technology

In related news, EVP Mark Casper sold 3,000 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president owned 17,163 shares of the company's stock, valued at approximately $1,241,743.05. The trade was a 14.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.33% of the company's stock.

Marvell Technology Trading Up 2.1%

MRVL opened at $68.86 on Wednesday. The firm has a market capitalization of $59.36 billion, a P/E ratio of -529.69, a P/E/G ratio of 0.81 and a beta of 1.85. The firm's 50 day moving average is $72.42 and its 200-day moving average is $67.57. Marvell Technology, Inc. has a 52-week low of $47.08 and a 52-week high of $127.48. The company has a quick ratio of 1.44, a current ratio of 1.88 and a debt-to-equity ratio of 0.30.

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, hitting analysts' consensus estimates of $0.67. Marvell Technology had a negative net margin of 1.43% and a positive return on equity of 11.01%. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter last year, the company earned $0.30 earnings per share. The business's quarterly revenue was up 57.6% compared to the same quarter last year. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. Analysts expect that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

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.

Want to see what other hedge funds are holding MRVL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marvell Technology, Inc. (NASDAQ:MRVL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.