Sumitomo Mitsui DS Asset Management Company Ltd Has $6.30 Million Holdings in Marvell Technology, Inc. $MRVL

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd reduced its stake in Marvell Technology by 41.9%, now holding 81,397 shares valued at approximately $6.3 million.
• Marvell Technology reported $2.01 billion in revenue last quarter, matching analysts' expectations, while earnings per share (EPS) met the consensus estimate of $0.67.
• The company declared a quarterly dividend of $0.06 per share, set to be paid on October 30th, despite a negative payout ratio of -184.62%.

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 41.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 81,397 shares of the semiconductor company's stock after selling 58,615 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Marvell Technology were worth $6,300,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Marvell Technology by 1.9% in the first quarter. Vanguard Group Inc. now owns 63,770,122 shares of the semiconductor company's stock valued at $3,926,326,000 after buying an additional 1,212,338 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Marvell Technology by 32.3% in the first quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company's stock valued at $1,272,117,000 after purchasing an additional 5,050,159 shares during the period. Brown Advisory Inc. grew its holdings in shares of Marvell Technology by 2.2% in the first quarter. Brown Advisory Inc. now owns 19,300,527 shares of the semiconductor company's stock valued at $1,188,333,000 after purchasing an additional 423,892 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Marvell Technology by 2.6% in the first quarter. Ameriprise Financial Inc. now owns 8,942,304 shares of the semiconductor company's stock valued at $562,991,000 after purchasing an additional 227,555 shares during the period. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Marvell Technology by 6.7% in the first quarter. Pictet Asset Management Holding SA now owns 7,776,196 shares of the semiconductor company's stock valued at $478,794,000 after purchasing an additional 488,610 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MRVL shares. Evercore ISI dropped their price objective on shares of Marvell Technology from $133.00 to $122.00 and set an "outperform" rating for the company in a report on Friday, August 29th. Cantor Fitzgerald reiterated a "neutral" rating and set a $75.00 price target on shares of Marvell Technology in a research report on Friday, August 29th. KeyCorp dropped their price target on shares of Marvell Technology from $115.00 to $90.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. Melius Research lifted their price target on shares of Marvell Technology from $67.00 to $76.00 and gave the company a "hold" rating in a research report on Wednesday, June 18th. Finally, Redburn Atlantic started coverage on shares of Marvell Technology in a report on Wednesday, May 28th. They issued a "neutral" rating and a $67.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $90.50.

Insider Transactions at Marvell Technology

In related 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 transaction of $217,050.00. Following the transaction, the executive vice president directly owned 17,163 shares of the company's stock, valued at $1,241,743.05. The trade was a 14.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is currently owned by insiders.

Marvell Technology Stock Up 0.7%

Shares of MRVL stock traded up $0.51 during mid-day trading on Tuesday, reaching $76.04. 4,734,821 shares of the company were exchanged, compared to its average volume of 19,172,805. The business's 50 day simple moving average is $72.51 and its 200 day simple moving average is $67.25. Marvell Technology, Inc. has a fifty-two week low of $47.08 and a fifty-two week high of $127.48. The company has a market capitalization of $65.55 billion, a P/E ratio of -584.92, a P/E/G ratio of 0.90 and a beta of 1.85. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.44 and a current ratio of 1.88.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its quarterly earnings data on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 for the quarter, compared to analysts' expectations of $2.01 billion. During the same period last year, the business posted $0.30 earnings per share. The firm's revenue for the quarter was up 57.6% on a year-over-year basis. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. Research analysts predict that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 30th. Investors of record on Friday, October 10th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, October 10th. Marvell Technology's payout ratio is currently -184.62%.

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.