Rafferty Asset Management LLC Has $169.54 Million Position in Marvell Technology, Inc. $MRVL

Key Points

• Rafferty Asset Management LLC reduced its stake in Marvell Technology by 12.0%, owning approximately $169.54 million worth of shares after selling 375,300 shares.
• Marvell Technology reported a 63.3% year-over-year increase in quarterly revenue, amounting to $1.90 billion, with an EPS of $0.62, beating analyst estimates by $0.01.
• The company recently announced a quarterly dividend of $0.06 per share, reflecting an annualized dividend yield of 0.3%.

Rafferty Asset Management LLC reduced its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 12.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,753,551 shares of the semiconductor company's stock after selling 375,300 shares during the period. Rafferty Asset Management LLC owned approximately 0.32% of Marvell Technology worth $169,536,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. FORA Capital LLC raised its holdings in Marvell Technology by 231.7% in the first quarter. FORA Capital LLC now owns 248,051 shares of the semiconductor company's stock worth $15,272,000 after purchasing an additional 173,274 shares during the period. South Plains Financial Inc. acquired a new stake in Marvell Technology in the first quarter worth $192,000. Taikang Asset Management Hong Kong Co Ltd raised its holdings in Marvell Technology by 64.2% in the first quarter. Taikang Asset Management Hong Kong Co Ltd now owns 56,994 shares of the semiconductor company's stock worth $3,509,000 after purchasing an additional 22,294 shares during the period. Ally Financial Inc. acquired a new stake in Marvell Technology in the first quarter worth $862,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings in Marvell Technology by 407.4% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,079 shares of the semiconductor company's stock worth $313,000 after purchasing an additional 4,078 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Panteha Dixon sold 1,283 shares of Marvell Technology 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 owned 29,572 shares of the company's stock, valued at approximately $2,025,682. The trade was a 4.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology 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 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,783 shares of company stock valued at $407,716. Company insiders own 0.33% of the company's stock.

Marvell Technology Stock Performance

Shares of MRVL opened at $72.95 on Tuesday. The firm has a 50-day moving average of $74.78 and a 200-day moving average of $71.28. Marvell Technology, Inc. has a one year low of $47.08 and a one year high of $127.48. The company has a market cap of $63.02 billion, a PE ratio of -127.98, a price-to-earnings-growth ratio of 0.79 and a beta of 1.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.30 and a quick ratio of 0.94.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. Marvell Technology had a negative net margin of 7.56% and a positive return on equity of 8.42%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the firm posted $0.24 EPS. The company's quarterly revenue was up 63.3% on a year-over-year basis. Marvell Technology has set its Q2 2026 guidance at 0.620-0.720 EPS. As a group, equities analysts forecast that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Friday, July 11th were issued 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 0.3%. Marvell Technology's payout ratio is presently -42.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Marvell Technology from $100.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Benchmark reiterated a "buy" rating and issued a $95.00 target price on shares of Marvell Technology in a report on Wednesday, June 18th. Loop Capital cut their target price on shares of Marvell Technology from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, May 30th. UBS Group restated a "buy" rating on shares of Marvell Technology in a report on Monday, June 2nd. Finally, Piper Sandler restated an "overweight" rating and set a $85.00 price objective (down from $95.00) on shares of Marvell Technology in a report on Friday, May 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $94.70.

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.

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