T. Rowe Price Investment Management Inc. Trims Holdings in Marvell Technology, Inc. $MRVL

Key Points

• T. Rowe Price Investment Management Inc. has reduced its holdings in Marvell Technology, Inc. by 18.4%, resulting in ownership of approximately 17.24 million shares after selling nearly 3.89 million shares in Q1.
• Despite a decrease in holdings from T. Rowe Price, other hedge funds have increased their stakes in Marvell Technology; Impax Asset Management Group grew its holdings by an impressive 748.3% during the same period.
• Marvell Technology recently reported $1.90 billion in revenue for the quarter, a 63.3% increase year-over-year, along with earnings per share of $0.62, surpassing analysts' expectations.

T. Rowe Price Investment Management Inc. lessened its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 18.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,244,465 shares of the semiconductor company's stock after selling 3,885,921 shares during the period. Marvell Technology comprises approximately 0.7% of T. Rowe Price Investment Management Inc.'s holdings, making the stock its 29th largest holding. T. Rowe Price Investment Management Inc. owned about 2.00% of Marvell Technology worth $1,061,742,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Nuveen Asset Management LLC grew its holdings in shares of Marvell Technology by 232.2% during the 4th quarter. Nuveen Asset Management LLC now owns 9,360,425 shares of the semiconductor company's stock worth $1,033,859,000 after acquiring an additional 6,543,132 shares during the period. Nuveen LLC purchased a new position in shares of Marvell Technology during the 1st quarter worth approximately $399,587,000. Goldman Sachs Group Inc. grew its holdings in shares of Marvell Technology by 32.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company's stock worth $1,272,117,000 after acquiring an additional 5,050,159 shares during the period. Impax Asset Management Group plc grew its holdings in shares of Marvell Technology by 748.3% during the 1st quarter. Impax Asset Management Group plc now owns 3,700,841 shares of the semiconductor company's stock worth $227,033,000 after acquiring an additional 3,264,557 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Marvell Technology by 8,128.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,460,851 shares of the semiconductor company's stock worth $151,515,000 after acquiring an additional 2,430,945 shares during the period. Hedge funds and other institutional investors own 83.51% of the company's stock.

Marvell Technology Price Performance

NASDAQ MRVL opened at $72.07 on Wednesday. The company has a market capitalization of $62.26 billion, a PE ratio of -126.44, a price-to-earnings-growth ratio of 0.83 and a beta of 1.83. 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 business's fifty day moving average is $74.52 and its 200 day moving average is $72.74. Marvell Technology, Inc. has a fifty-two week low of $47.08 and a fifty-two week high of $127.48.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its earnings results on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.01. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%.Marvell Technology's quarterly revenue was up 63.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 earnings per share. Marvell Technology has set its Q2 2026 guidance at 0.620-0.720 EPS. Sell-side 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 announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Friday, July 11th were given a dividend of $0.06 per share. The ex-dividend date was Friday, July 11th. This represents a $0.24 annualized dividend and a yield of 0.3%. Marvell Technology's payout ratio is -42.11%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MRVL shares. Evercore ISI reduced their target price on Marvell Technology from $135.00 to $133.00 and set an "outperform" rating on the stock in a report on Friday, May 30th. Needham & Company LLC downgraded Marvell Technology from a "buy" rating to a "cautious" rating in a research note on Wednesday, July 16th. Barclays cut their price target on Marvell Technology from $130.00 to $80.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Piper Sandler restated an "overweight" rating and issued a $85.00 price target (down previously from $95.00) on shares of Marvell Technology in a research note on Friday, May 30th. Finally, KeyCorp cut their price target on Marvell Technology from $115.00 to $90.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. One investment 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $94.70.

Insider Activity at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Monday, June 16th. The stock was sold at an average price of $68.52, for a total transaction of $102,780.00. Following the transaction, the chief financial officer directly owned 121,348 shares in the company, valued at approximately $8,314,764.96. The trade was a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Panteha Dixon sold 1,283 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $68.50, for a total value of $87,885.50. Following the sale, the chief accounting officer directly owned 29,572 shares in the company, valued at approximately $2,025,682. This represents a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,783 shares of company stock worth $407,716. Corporate insiders own 0.33% of the company's stock.

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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