Financiere des Professionnels Fonds d investissement inc. Purchases Shares of 25,413 Marvell Technology, Inc. $MRVL

Financiere des Professionnels Fonds d investissement inc. bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVLFree Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 25,413 shares of the semiconductor company’s stock, valued at approximately $2,517,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Marvell Technology in the 4th quarter valued at approximately $895,455,000. Rafferty Asset Management LLC grew its holdings in shares of Marvell Technology by 111.0% during the 2nd quarter. Rafferty Asset Management LLC now owns 5,810,359 shares of the semiconductor company’s stock worth $449,722,000 after purchasing an additional 3,056,808 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Marvell Technology by 177.9% during the 4th quarter. Capital Research Global Investors now owns 4,551,249 shares of the semiconductor company’s stock worth $386,765,000 after purchasing an additional 2,913,368 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Marvell Technology by 397.3% during the fourth quarter. AQR Capital Management LLC now owns 2,172,943 shares of the semiconductor company’s stock valued at $184,657,000 after purchasing an additional 1,736,006 shares during the period. Finally, State Street Corp increased its position in shares of Marvell Technology by 7.9% during the fourth quarter. State Street Corp now owns 22,834,816 shares of the semiconductor company’s stock valued at $1,940,503,000 after purchasing an additional 1,677,724 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Marvell Technology

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

Marvell Technology Trading Down 8.7%

Shares of NASDAQ:MRVL opened at $188.30 on Friday. The firm has a market cap of $164.72 billion, a price-to-earnings ratio of 64.49, a PEG ratio of 1.35 and a beta of 2.20. The company’s fifty day simple moving average is $240.15 and its 200 day simple moving average is $148.79. Marvell Technology, Inc. has a 12 month low of $61.44 and a 12 month high of $329.88. The company has a quick ratio of 2.66, a current ratio of 3.28 and a debt-to-equity ratio of 0.27.

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. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.41 billion. Marvell Technology had a return on equity of 13.83% and a net margin of 28.99%.Marvell Technology’s quarterly revenue was up 27.6% on a year-over-year basis. During the same period last year, the company earned $0.62 earnings per share. Marvell Technology has set its Q2 2027 guidance at 0.880-0.980 EPS. As a group, research analysts forecast that Marvell Technology, Inc. will post 3.07 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Friday, July 10th will be issued a $0.06 dividend. The ex-dividend date is Friday, July 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.1%. Marvell Technology’s dividend payout ratio (DPR) is presently 8.22%.

Wall Street Analyst Weigh In

MRVL has been the subject of several recent research reports. Rosenblatt Securities reissued a “buy” rating and issued a $240.00 price target on shares of Marvell Technology in a research report on Friday, June 12th. Benchmark lifted their price target on Marvell Technology from $130.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Barclays upped their price objective on Marvell Technology from $150.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Raymond James Financial set a $235.00 target price on shares of Marvell Technology and gave the company a “strong-buy” rating in a research report on Thursday, May 28th. Finally, Oppenheimer raised their price target on Marvell Technology from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $245.45.

View Our Latest Research Report on MRVL

Insider Activity

In other news, insider Sandeep Bharathi sold 2,231 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $299.13, for a total value of $667,359.03. Following the sale, the insider directly owned 55,530 shares of the company’s stock, valued at approximately $16,610,688.90. This represents a 3.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Chris Koopmans sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $281.92, for a total value of $2,819,200.00. Following the completion of the sale, the chief operating officer owned 227,754 shares in the company, valued at $64,208,407.68. This represents a 4.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 45,981 shares of company stock worth $9,835,542. Corporate insiders own 0.12% of the company’s stock.

About Marvell Technology

(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.

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

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