Westbourne Investments Inc. Purchases 17,695 Shares of Marvell Technology, Inc. $MRVL

Key Points

• Westbourne Investments Inc. significantly increased its stake in Marvell Technology, acquiring an additional 17,695 shares, resulting in a total of 21,695 shares worth approximately $1.68 million.
• Institutional investors now hold 83.51% of Marvell Technology's stock, indicating strong institutional interest in the company.
• Marvell Technology reported Q2 earnings of $0.67 per share, meeting consensus estimates, and highlighted a 57.6% year-over-year increase in revenue.

Westbourne Investments Inc. lifted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 442.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,695 shares of the semiconductor company's stock after acquiring an additional 17,695 shares during the quarter. Westbourne Investments Inc.'s holdings in Marvell Technology were worth $1,679,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Nuveen LLC acquired a new position in Marvell Technology in the first quarter valued at about $399,587,000. Goldman Sachs Group Inc. lifted 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 in the last quarter. Impax Asset Management Group plc raised its holdings in Marvell Technology by 748.3% during the first 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 in the last quarter. AQR Capital Management LLC raised its holdings in Marvell Technology by 662.9% during the first quarter. AQR Capital Management LLC now owns 3,119,855 shares of the semiconductor company's stock worth $187,566,000 after acquiring an additional 2,710,894 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Marvell Technology by 8,128.6% in the first quarter. Assenagon Asset Management S.A. now owns 2,460,851 shares of the semiconductor company's stock valued at $151,515,000 after buying an additional 2,430,945 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Stock Performance

Marvell Technology stock traded up $0.03 during trading on Friday, hitting $74.26. The stock had a trading volume of 31,760,619 shares, compared to its average volume of 19,251,078. Marvell Technology, Inc. has a 1 year low of $47.08 and a 1 year high of $127.48. 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 stock's 50 day moving average is $72.42 and its two-hundred day moving average is $67.51. The stock has a market cap of $64.02 billion, a price-to-earnings ratio of -571.23, a price-to-earnings-growth ratio of 0.86 and a beta of 1.85.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its earnings results on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.67. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.01 billion. Marvell Technology had a positive return on equity of 11.01% and a negative net margin of 1.43%.The business's quarterly revenue was up 57.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.30 earnings per share. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. As a group, analysts predict that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on MRVL. Needham & Company LLC reduced their price target on Marvell Technology from $85.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, August 29th. Bank of America reiterated a "neutral" rating and issued a $78.00 price target (down from $90.00) on shares of Marvell Technology in a research note on Friday, August 29th. B. Riley reaffirmed a "buy" rating and set a $115.00 target price (up from $110.00) on shares of Marvell Technology in a research report on Wednesday, June 18th. Evercore ISI lowered their target price on Marvell Technology from $133.00 to $122.00 and set an "outperform" rating for the company in a research report on Friday, August 29th. Finally, Wall Street Zen upgraded Marvell Technology from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Marvell Technology currently has an average rating of "Moderate Buy" and a consensus price target of $90.50.

Insider Buying and Selling

In other news, EVP Mark Casper sold 3,000 shares of the firm's 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 approximately $1,241,743.05. This trade represents a 14.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by corporate 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.