Third View Private Wealth LLC Acquires 7,596 Shares of Marvell Technology, Inc. $MRVL

Third View Private Wealth LLC acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 7,596 shares of the semiconductor company’s stock, valued at approximately $2,007,000.

A number of other hedge funds have also modified their holdings of the stock. C M Bidwell & Associates Ltd. acquired a new stake in shares of Marvell Technology during the second quarter worth $27,000. Investment Research & Advisory Group Inc. acquired a new position in shares of Marvell Technology in the 3rd quarter valued at $25,000. Aberdeen Wealth Management LLC acquired a new position in shares of Marvell Technology in the 2nd quarter valued at $30,000. Sawyer & Company Inc purchased a new position in Marvell Technology in the 3rd quarter worth about $26,000. Finally, Sunrise Financial Services LLC purchased a new position in Marvell Technology in the 3rd quarter worth about $26,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Marvell Technology

In other Marvell Technology news, insider Sandeep Bharathi sold 3,685 shares of the company’s stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $234.97, for a total value of $865,864.45. Following the transaction, the insider owned 58,748 shares in the company, valued at approximately $13,804,017.56. This represents a 5.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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, CAO Justin Scarpulla sold 1,100 shares of the stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of $273.59, for a total transaction of $300,949.00. Following the completion of the sale, the chief accounting officer owned 909 shares of the company’s stock, valued at approximately $248,693.31. The trade was a 54.75% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 57,285 shares of company stock valued at $12,901,763. 0.12% of the stock is owned by company insiders.

Marvell Technology Stock Up 0.3%

Shares of Marvell Technology stock opened at $171.97 on Wednesday. The stock has a 50-day moving average price of $240.15 and a 200 day moving average price of $183.26. The company 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. The company has a current ratio of 3.17, a quick ratio of 2.62 and a debt-to-equity ratio of 0.27. Marvell Technology, Inc. has a 1 year low of $70.68 and a 1 year high of $329.88.

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

Marvell Technology Dividend Announcement

The business 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. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Friday, October 9th. Marvell Technology’s dividend payout ratio is 7.92%.

Analysts Set New Price Targets

Several analysts have issued reports on MRVL shares. Bank of America downgraded Marvell Technology from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $400.00 to $225.00 in a report on Tuesday. Stifel Nicolaus raised their target price on shares of Marvell Technology from $350.00 to $370.00 and gave the stock a “buy” rating in a report on Wednesday, October 7th. Susquehanna dropped their target price on shares of Marvell Technology from $340.00 to $300.00 and set a “positive” rating on the stock in a research report on Tuesday. B. Riley Financial cut their price target on shares of Marvell Technology from $365.00 to $275.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Piper Sandler restated an “overweight” rating on shares of Marvell Technology in a report on Thursday, October 29th. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $300.85.

More Marvell Technology News

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.

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.