Red Spruce Capital LLC Invests $1.98 Million in Marvell Technology, Inc. $MRVL

Key Points

• Red Spruce Capital LLC invested approximately $1.98 million in Marvell Technology, acquiring 25,521 shares during the second quarter.
• Marvell Technology reported a quarterly revenue of $2.01 billion, matching analyst estimates, with a year-over-year increase of 57.6%.
• Multiple large investors have recently increased their holdings in Marvell Technology, with 83.51% of the stock owned by hedge funds and institutional investors.

Red Spruce Capital LLC acquired a new position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 25,521 shares of the semiconductor company's stock, valued at approximately $1,975,000.

A number of other large investors also recently modified their holdings of the company. Parallel Advisors LLC raised its holdings in shares of Marvell Technology by 149.7% in the 2nd quarter. Parallel Advisors LLC now owns 23,657 shares of the semiconductor company's stock worth $1,831,000 after purchasing an additional 14,184 shares during the period. Wesbanco Bank Inc. raised its holdings in shares of Marvell Technology by 53.8% in the 2nd quarter. Wesbanco Bank Inc. now owns 68,615 shares of the semiconductor company's stock worth $5,311,000 after purchasing an additional 24,000 shares during the period. Modus Advisors LLC purchased a new position in shares of Marvell Technology in the 2nd quarter worth about $337,000. Salem Investment Counselors Inc. raised its holdings in shares of Marvell Technology by 415.9% in the 2nd quarter. Salem Investment Counselors Inc. now owns 31,136 shares of the semiconductor company's stock worth $2,410,000 after purchasing an additional 25,101 shares during the period. Finally, Garde Capital Inc. raised its holdings in shares of Marvell Technology by 29.3% in the 2nd quarter. Garde Capital Inc. now owns 817 shares of the semiconductor company's stock worth $63,000 after purchasing an additional 185 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $67.35 on Monday. Marvell Technology, Inc. has a fifty-two week low of $47.08 and a fifty-two week high of $127.48. The business has a 50 day moving average price of $72.57 and a two-hundred day moving average price of $67.73. The company has a quick ratio of 1.44, a current ratio of 1.88 and a debt-to-equity ratio of 0.30. The firm has a market cap of $58.06 billion, a PE ratio of -518.08, a price-to-earnings-growth ratio of 0.81 and a beta of 1.85.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings data on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share for the quarter, meeting analysts' consensus estimates of $0.67. Marvell Technology had a positive return on equity of 11.01% and a negative net margin of 1.43%.The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter last year, the firm earned $0.30 EPS. Marvell Technology's quarterly revenue was up 57.6% on a year-over-year basis. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. Sell-side analysts expect that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Marvell Technology news, EVP Mark Casper sold 3,000 shares of the firm'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 transaction of $217,050.00. Following the completion of the sale, the executive vice president owned 17,163 shares in the company, valued at $1,241,743.05. This trade represents a 14.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on MRVL. Cantor Fitzgerald restated a "neutral" rating and issued a $75.00 price objective on shares of Marvell Technology in a report on Friday, August 29th. Morgan Stanley lowered their target price on Marvell Technology from $80.00 to $76.00 and set an "equal weight" rating for the company in a research note on Friday, August 29th. Wells Fargo & Company lowered their target price on Marvell Technology from $95.00 to $90.00 and set an "overweight" rating for the company in a research note on Friday, August 29th. Deutsche Bank Aktiengesellschaft lowered their target price on Marvell Technology from $100.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $90.00 target price (down previously from $110.00) on shares of Marvell Technology in a research note on Friday, May 30th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.

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