Swedbank AB Sells 701,812 Shares of Marvell Technology, Inc. $MRVL

Swedbank AB decreased its position in Marvell Technology, Inc. (NASDAQ:MRVLFree Report) by 18.4% during the 4th quarter, Holdings Channel reports. The firm owned 3,103,735 shares of the semiconductor company’s stock after selling 701,812 shares during the period. Swedbank AB’s holdings in Marvell Technology were worth $263,755,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Intech Investment Management LLC increased its position in shares of Marvell Technology by 3.9% in the first quarter. Intech Investment Management LLC now owns 28,784 shares of the semiconductor company’s stock valued at $1,772,000 after acquiring an additional 1,085 shares during the period. Baird Financial Group Inc. boosted its holdings in shares of Marvell Technology by 22.7% during the second quarter. Baird Financial Group Inc. now owns 17,417 shares of the semiconductor company’s stock worth $1,348,000 after purchasing an additional 3,221 shares during the period. Flow Traders U.S. LLC bought a new stake in shares of Marvell Technology in the second quarter worth about $354,000. Treasurer of the State of North Carolina grew its stake in shares of Marvell Technology by 3.0% in the second quarter. Treasurer of the State of North Carolina now owns 403,818 shares of the semiconductor company’s stock worth $31,256,000 after purchasing an additional 11,572 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Marvell Technology by 1.0% during the 2nd quarter. Alliancebernstein L.P. now owns 411,569 shares of the semiconductor company’s stock valued at $31,855,000 after purchasing an additional 4,060 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Trading Up 3.2%

MRVL opened at $168.82 on Wednesday. The stock has a market cap of $147.62 billion, a PE ratio of 54.81, a PEG ratio of 1.48 and a beta of 2.25. The company has a quick ratio of 1.58, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average of $110.46 and a 200-day moving average of $93.96. Marvell Technology, Inc. has a 52 week low of $53.78 and a 52 week high of $172.98.

Marvell Technology (NASDAQ:MRVLGet Free Report) last issued its quarterly earnings results on Thursday, March 5th. The semiconductor company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.01. The company had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Marvell Technology had a return on equity of 14.22% and a net margin of 32.58%.The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 earnings per share. Marvell Technology has set its Q1 2027 guidance at 0.740-0.840 EPS. Equities research analysts predict that Marvell Technology, Inc. will post 3.04 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Friday, April 10th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, April 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.1%. Marvell Technology’s dividend payout ratio is currently 7.79%.

Wall Street Analyst Weigh In

MRVL has been the subject of several research analyst reports. Wall Street Zen cut Marvell Technology from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Raymond James Financial reissued a “strong-buy” rating on shares of Marvell Technology in a research note on Tuesday, January 6th. Susquehanna restated a “positive” rating on shares of Marvell Technology in a report on Tuesday, February 24th. Bank of America raised Marvell Technology from a “neutral” rating to a “buy” rating and raised their price target for the stock from $90.00 to $110.00 in a research note on Friday, March 6th. Finally, Zacks Research raised shares of Marvell Technology from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $125.00.

Get Our Latest Report on MRVL

Key Marvell Technology News

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

Insider Buying and Selling

In related news, EVP Mark Casper sold 10,854 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $107.01, for a total value of $1,161,486.54. Following the completion of the transaction, the executive vice president directly owned 4,023 shares in the company, valued at $430,501.23. This trade represents a 72.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 30,000 shares of Marvell Technology stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $134.01, for a total transaction of $4,020,300.00. Following the transaction, the chief financial officer directly owned 154,111 shares of the company’s stock, valued at approximately $20,652,415.11. This trade represents a 16.29% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 233,560 shares of company stock worth $27,870,662 over the last 90 days. Corporate insiders own 0.33% 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.

Featured Articles

Want to see what other hedge funds are holding MRVL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marvell Technology, Inc. (NASDAQ:MRVLFree Report).

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

Receive News & Ratings for Marvell Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marvell Technology and related companies with MarketBeat.com's FREE daily email newsletter.