NewEdge Wealth LLC Purchases 5,468 Shares of Marvell Technology, Inc. $MRVL

NewEdge Wealth LLC raised its position in Marvell Technology, Inc. (NASDAQ:MRVLFree Report) by 52.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,904 shares of the semiconductor company’s stock after purchasing an additional 5,468 shares during the period. NewEdge Wealth LLC’s holdings in Marvell Technology were worth $1,575,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of MRVL. Mayflower Financial Advisors LLC boosted its position in shares of Marvell Technology by 1.7% during the first quarter. Mayflower Financial Advisors LLC now owns 4,109 shares of the semiconductor company’s stock worth $407,000 after purchasing an additional 68 shares in the last quarter. Bell Investment Advisors Inc increased its position in shares of Marvell Technology by 12.9% in the 1st quarter. Bell Investment Advisors Inc now owns 628 shares of the semiconductor company’s stock valued at $62,000 after buying an additional 72 shares in the last quarter. World Equity Group Inc. raised its stake in Marvell Technology by 2.1% during the 1st quarter. World Equity Group Inc. now owns 3,919 shares of the semiconductor company’s stock worth $388,000 after buying an additional 80 shares during the period. Schear Investment Advisers LLC raised its stake in Marvell Technology by 1.4% during the 1st quarter. Schear Investment Advisers LLC now owns 7,551 shares of the semiconductor company’s stock worth $748,000 after buying an additional 106 shares during the period. Finally, Enterprise Financial Services Corp lifted its holdings in Marvell Technology by 3.5% during the first quarter. Enterprise Financial Services Corp now owns 3,188 shares of the semiconductor company’s stock worth $316,000 after acquiring an additional 107 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

More Marvell Technology News

Here are the key news stories impacting Marvell Technology this week:

Insider Activity at Marvell Technology

In other news, CFO Daniel Durn sold 2,250 shares of Marvell Technology stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $281.01, for a total value of $632,272.50. Following the sale, the chief financial officer directly owned 6,902 shares in the company, valued at $1,939,531.02. This trade represents a 24.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Chris Koopmans sold 10,000 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $281.92, for a total transaction of $2,819,200.00. Following the completion of the sale, the chief operating officer directly owned 227,754 shares in the company, valued at approximately $64,208,407.68. This represents a 4.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 45,981 shares of company stock worth $9,835,542. 0.12% of the stock is currently owned by corporate insiders.

Marvell Technology Stock Performance

Shares of Marvell Technology stock opened at $194.23 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.28 and a quick ratio of 2.66. The firm has a market cap of $169.91 billion, a price-to-earnings ratio of 66.52, a price-to-earnings-growth ratio of 1.22 and a beta of 2.20. The stock’s 50-day moving average is $243.42 and its 200-day moving average is $153.61. Marvell Technology, Inc. has a one year low of $61.44 and a one year high of $329.88.

Marvell Technology (NASDAQ:MRVLGet Free Report) last posted its quarterly earnings data on Wednesday, May 27th. The semiconductor company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. Marvell Technology had a return on equity of 13.83% and a net margin of 28.99%.The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the company earned $0.62 earnings per share. Marvell Technology’s quarterly revenue was up 27.6% on a year-over-year basis. Marvell Technology has set its Q2 2027 guidance at 0.880-0.980 EPS. Equities analysts predict that Marvell Technology, Inc. will post 3.07 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Friday, July 10th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.1%. Marvell Technology’s dividend payout ratio is 8.22%.

Analyst Ratings Changes

MRVL has been the subject of several recent analyst reports. Melius Research set a $220.00 price target on Marvell Technology in a report on Monday, May 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Marvell Technology in a research report on Wednesday, June 24th. Benchmark increased their target price on Marvell Technology from $130.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Roth Capital lifted their price target on shares of Marvell Technology from $135.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $240.00 price target on shares of Marvell Technology in a report on Friday, June 12th. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and a consensus target price of $245.45.

Read Our Latest Stock Report on MRVL

Marvell Technology Profile

(Free Report)

Marvell Technology Group is a global semiconductor company that designs and develops integrated circuits and related software for data infrastructure, networking, storage and connectivity markets. The company’s product portfolio includes system-on-chip (SoC) solutions, Ethernet physical-layer transceivers (PHYs), switch and switch silicon, optical interconnect components, storage controllers, and security processors. Marvell’s technology is used to enable high-performance data centers, carrier networks, enterprise and cloud storage, as well as connectivity in automotive and industrial applications.

Founded in 1995 and headquartered in Santa Clara, California, Marvell has grown through both organic development and strategic acquisitions to broaden its capabilities across networking and data interconnect.

See Also

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Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)

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