Glenview Trust Co Cuts Stock Holdings in Marvell Technology, Inc. $MRVL

Glenview Trust Co trimmed its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 6.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,876 shares of the semiconductor company’s stock after selling 15,728 shares during the quarter. Glenview Trust Co’s holdings in Marvell Technology were worth $23,760,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Intech Investment Management LLC boosted its stake in shares of Marvell Technology by 3.9% during the 1st quarter. Intech Investment Management LLC now owns 28,784 shares of the semiconductor company’s stock worth $1,772,000 after acquiring an additional 1,085 shares in the last quarter. Baird Financial Group Inc. raised its holdings in Marvell Technology by 22.7% in the 2nd 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 acquired a new position in Marvell Technology in the 2nd quarter worth about $354,000. Treasurer of the State of North Carolina boosted its position in Marvell Technology by 3.0% during 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 in the last quarter. Finally, Alliancebernstein L.P. boosted its position in Marvell Technology by 1.0% during the second quarter. Alliancebernstein L.P. now owns 411,569 shares of the semiconductor company’s stock worth $31,855,000 after purchasing an additional 4,060 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marvell Technology

In related news, CFO Willem A. Meintjes sold 4,000 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $175.24, for a total value of $700,960.00. Following the completion of the sale, the chief financial officer owned 226,675 shares of the company’s stock, valued at approximately $39,722,527. This trade represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Durn sold 2,250 shares of Marvell Technology stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $281.01, for a total value of $632,272.50. Following the transaction, the chief financial officer owned 6,902 shares in the company, valued at approximately $1,939,531.02. The trade was a 24.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 45,981 shares of company stock worth $9,835,542. 0.12% of the stock is owned by company insiders.

Marvell Technology Trading Up 3.3%

Shares of MRVL opened at $194.94 on Tuesday. Marvell Technology, Inc. has a 52-week low of $61.44 and a 52-week high of $329.88. The stock has a market cap of $170.53 billion, a PE ratio of 66.76, a price-to-earnings-growth ratio of 1.24 and a beta of 2.20. The firm’s fifty day moving average is $241.01 and its two-hundred day moving average is $150.28. 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:MRVL) last posted its quarterly earnings results on Wednesday, May 27th. The semiconductor company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.41 billion. Marvell Technology had a net margin of 28.99% and a return on equity of 13.83%. The company’s revenue for the quarter was up 27.6% on a year-over-year basis. During the same period last year, the firm posted $0.62 earnings per share. Marvell Technology has set its Q2 2027 guidance at 0.880-0.980 EPS. Research analysts forecast that Marvell Technology, Inc. will post 3.07 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

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

Key Marvell Technology News

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

• Positive Sentiment: Chip stocks, including Marvell, rallied as investors bought the dip after a broad semiconductor sell-off, suggesting improving sentiment toward the group. The Memory Stock Sell-Off Created a ‘Strong Entry Point,’ Says Morgan Stanley. Investors Are Buying In.
• Positive Sentiment: Wall Street is warming to Marvell after its XConn acquisition, reinforcing the bullish case that the company is gaining traction in AI data center infrastructure. Wall Street Is Warming to Marvell After Its XConn Acquisition. Here’s The Price Target
• Positive Sentiment: Analyst and investor commentary continues to highlight Marvell as a potential winner from rising AI memory and data-center spending, which supports the stock’s rebound narrative. AI Investors Are Becoming Pickier. 2 Stocks Still Stand Out.
• Neutral Sentiment: Quarterly earnings roundup coverage keeps Marvell in focus versus other semiconductor manufacturers, but the headline does not appear to introduce a major new catalyst on its own. Q1 earnings roundup: Marvell Technology (NASDAQ:MRVL) and the rest of the semiconductor manufacturing segment
• Negative Sentiment: The stock has also been described as highly volatile after a sharp recent decline, which reminds investors that sentiment can turn quickly even amid AI optimism. Wall Street Is Warming to Marvell After Its XConn Acquisition. Here’s The Price Target

Analysts Set New Price Targets

A number of research firms have recently commented on MRVL. Citigroup boosted their price objective on Marvell Technology from $118.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. KeyCorp lifted their price target on shares of Marvell Technology from $385.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Wells Fargo & Company boosted their price target on shares of Marvell Technology from $195.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Needham & Company LLC upped their price objective on shares of Marvell Technology from $118.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Finally, Jefferies Financial Group increased their price objective on shares of Marvell Technology from $149.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $245.45.

About Marvell Technology

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.