Marvell Technology, Inc. $MRVL Stock Acquired by Factory Mutual Insurance Co.

Factory Mutual Insurance Co. raised its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 81.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 356,909 shares of the semiconductor company’s stock after purchasing an additional 159,700 shares during the quarter. Factory Mutual Insurance Co.’s holdings in Marvell Technology were worth $94,299,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Marvell Technology by 34.1% during the second quarter. BlackRock Inc. now owns 85,641,174 shares of the semiconductor company’s stock worth $25,511,649,000 after purchasing an additional 21,798,190 shares during the last quarter. State Street Corp raised its holdings in Marvell Technology by 79.3% in the 2nd quarter. State Street Corp now owns 41,834,272 shares of the semiconductor company’s stock valued at $12,462,011,000 after buying an additional 18,495,866 shares during the last quarter. Bank of America Corp DE bought a new position in Marvell Technology in the 2nd quarter valued at approximately $2,607,795,000. Legal & General Group Plc bought a new position in Marvell Technology in the 2nd quarter valued at approximately $1,742,526,000. Finally, Bank of New York Mellon Corp raised its holdings in Marvell Technology by 153.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 7,957,985 shares of the semiconductor company’s stock valued at $2,370,604,000 after buying an additional 4,815,725 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Price Performance

Marvell Technology stock opened at $171.97 on Wednesday. The stock’s 50 day moving average is $240.15 and its 200 day moving average is $183.26. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.17 and a quick ratio of 2.62. The firm has a market cap of $150.80 billion, a P/E ratio of 56.76, a P/E/G ratio of 5.11 and a beta of 2.32. Marvell Technology, Inc. has a one year low of $70.68 and a one year high of $329.88.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, August 27th. The semiconductor company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.93 by $0.01. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.72 billion. Marvell Technology had a return on equity of 13.57% and a net margin of 27.93%. The firm’s revenue was up 36.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.67 earnings per share. Marvell Technology has set its Q3 2027 guidance at 1.050-1.150 EPS. As a group, research analysts expect that Marvell Technology, Inc. will post 3.05 EPS for the current year.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 29th. Stockholders of record on Friday, October 9th were given a $0.06 dividend. The ex-dividend date was Friday, October 9th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.1%. Marvell Technology’s payout ratio is 7.92%.

Key Stories Impacting Marvell Technology

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

• Positive Sentiment: The proposed all-stock acquisition of Lumentum would combine Marvell’s custom chips and networking products with Lumentum’s optical technology for AI data centers. Marvell expects more than $1 billion in annual cost savings and says the deal could increase adjusted earnings per share in its first year after closing. Read More.
• Positive Sentiment: Some analysts continue to see upside: BMO kept its Buy rating and $325 target, while UBS maintained its Buy rating and $350 target, viewing the deal as supportive of Marvell’s optical-networking opportunity. Read More. Read More.
• Neutral Sentiment: Shares recovered some ground as chip stocks bounced following a sharp selloff, though the rebound followed pronounced losses tied to the acquisition announcement. Read More.
• Neutral Sentiment: COO Chris Koopmans sold 10,000 shares under a pre-arranged Rule 10b5-1 trading plan; he retained 202,800 shares, making the transaction less clearly a signal about near-term prospects. Read More.
• Negative Sentiment: Downgrades and steep target cuts highlighted concerns about dilution, regulatory approval, potential customer conflicts, and execution. BofA cut its rating to Neutral and TD Cowen moved to Hold, with both sharply reducing their targets. Read More. Read More.

Insider Activity

In other news, CAO Justin Scarpulla sold 1,100 shares of the company’s stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $273.59, for a total value of $300,949.00. Following the sale, the chief accounting officer directly owned 909 shares of the company’s stock, valued at approximately $248,693.31. This represents a 54.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Chris Koopmans sold 10,000 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $186.97, for a total transaction of $1,869,700.00. Following the sale, the chief operating officer owned 202,800 shares of the company’s stock, valued at approximately $37,917,516. This trade represents a 4.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 57,285 shares of company stock worth $12,901,763 over the last quarter. Company insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. William Blair reiterated an “outperform” rating on shares of Marvell Technology in a research report on Monday. TD Cowen downgraded shares of Marvell Technology from a “buy” rating to a “hold” rating and dropped their price target for the company from $350.00 to $175.00 in a research note on Tuesday. Barclays reaffirmed an “overweight” rating on shares of Marvell Technology in a research note on Thursday, August 20th. JPMorgan Chase & Co. lifted their price target on shares of Marvell Technology from $305.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, October 7th. Finally, Craig Hallum reissued a “buy” rating and issued a $380.00 price objective on shares of Marvell Technology in a research note on Wednesday, October 7th. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $300.85.

About Marvell Technology

Marvell Technology, Inc (NASDAQ: MRVL) is a semiconductor company that develops infrastructure solutions for data centers, telecommunications networks, enterprise systems, automotive applications and other connected markets. Its products are designed to support the movement, processing, storage and security of data across complex computing and communications environments.

The company’s portfolio includes data-processing and networking processors, custom application-specific integrated circuits, Ethernet switches and controllers, storage controllers, connectivity products, and electro-optics solutions.