State of New Jersey Common Pension Fund D Sells 24,885 Shares of Marvell Technology, Inc. $MRVL

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Marvell Technology, Inc. by 7.8%, trimming its holdings to 292,346 shares valued at approximately $18 million.
• Several hedge funds have increased their positions in Marvell Technology, with Goldman Sachs Group Inc. growing its holdings by 32.3% and holding over 20 million shares, worth around $1.27 billion.
• Marvell Technology reported a 63.3% increase in quarterly revenue year-over-year, achieving $1.90 billion against an estimated $1.88 billion, with earnings per share beating expectations.

State of New Jersey Common Pension Fund D lessened its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 7.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 292,346 shares of the semiconductor company's stock after selling 24,885 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Marvell Technology were worth $18,000,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MRVL. Bank Pictet & Cie Europe AG lifted its holdings in Marvell Technology by 0.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 66,710 shares of the semiconductor company's stock worth $7,368,000 after buying an additional 460 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in Marvell Technology by 12.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 51,022 shares of the semiconductor company's stock valued at $5,635,000 after acquiring an additional 5,765 shares in the last quarter. Townsquare Capital LLC raised its stake in Marvell Technology by 9.1% during the 4th quarter. Townsquare Capital LLC now owns 12,731 shares of the semiconductor company's stock valued at $1,406,000 after acquiring an additional 1,062 shares in the last quarter. Mariner LLC raised its stake in Marvell Technology by 6.0% during the 4th quarter. Mariner LLC now owns 113,446 shares of the semiconductor company's stock valued at $12,530,000 after acquiring an additional 6,471 shares in the last quarter. Finally, CreativeOne Wealth LLC increased its position in shares of Marvell Technology by 18.5% during the 4th quarter. CreativeOne Wealth LLC now owns 8,222 shares of the semiconductor company's stock valued at $908,000 after purchasing an additional 1,283 shares during the period. Institutional investors and hedge funds own 83.51% of the company's stock.

Marvell Technology Trading Down 6.1%

MRVL traded down $4.67 during mid-day trading on Tuesday, reaching $72.07. The stock had a trading volume of 16,562,142 shares, compared to its average volume of 18,396,980. Marvell Technology, Inc. has a 52 week low of $47.08 and a 52 week high of $127.48. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 1.30. The stock has a market capitalization of $62.26 billion, a P/E ratio of -126.44, a P/E/G ratio of 0.83 and a beta of 1.83. The firm's fifty day simple moving average is $74.45 and its two-hundred day simple moving average is $72.74.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.01. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%.The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the company earned $0.24 EPS. The firm's 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. On average, equities analysts predict that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Friday, July 11th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Friday, July 11th. Marvell Technology's dividend payout ratio (DPR) is presently -42.11%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Cantor Fitzgerald lifted their target price on Marvell Technology from $60.00 to $75.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th. Melius Research lifted their price objective on Marvell Technology from $67.00 to $76.00 and gave the company a "hold" rating in a research report on Wednesday, June 18th. KeyCorp reduced their price objective on Marvell Technology from $115.00 to $90.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. Evercore ISI reduced their price target on Marvell Technology from $135.00 to $133.00 and set an "outperform" rating for the company in a research report on Friday, May 30th. Finally, China Renaissance assumed coverage on Marvell Technology in a research report on Thursday, June 5th. They issued a "buy" rating and a $110.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Marvell Technology has a consensus rating of "Moderate Buy" and an average price target of $94.70.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 3,000 shares of Marvell Technology stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $72.35, for a total value of $217,050.00. Following the sale, the executive vice president owned 17,163 shares of the company's stock, valued at $1,241,743.05. This trade represents a 14.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 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 directly owned 121,348 shares in the company, valued at approximately $8,314,764.96. This represents a 1.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,783 shares of company stock valued at $407,716 in the last 90 days. 0.19% of the stock is currently owned by company insiders.

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.