DnB Asset Management AS Purchases 1,856,833 Shares of Marvell Technology, Inc. $MRVL

DnB Asset Management AS boosted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1,167.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,015,860 shares of the semiconductor company’s stock after buying an additional 1,856,833 shares during the quarter. DnB Asset Management AS’s holdings in Marvell Technology were worth $124,116,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nuveen Asset Management LLC boosted its position in Marvell Technology by 232.2% in the fourth quarter. Nuveen Asset Management LLC now owns 9,360,425 shares of the semiconductor company’s stock valued at $1,033,859,000 after buying an additional 6,543,132 shares during the last quarter. Nuveen LLC acquired a new stake in Marvell Technology in the first quarter valued at approximately $399,587,000. Goldman Sachs Group Inc. increased its holdings in Marvell Technology by 32.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company’s stock worth $1,272,117,000 after acquiring an additional 5,050,159 shares in the last quarter. Impax Asset Management Group plc lifted its stake in Marvell Technology by 748.3% in the 1st quarter. Impax Asset Management Group plc now owns 3,700,841 shares of the semiconductor company’s stock valued at $227,033,000 after buying an additional 3,264,557 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Marvell Technology by 662.9% during the first quarter. AQR Capital Management LLC now owns 3,119,855 shares of the semiconductor company’s stock worth $187,566,000 after purchasing an additional 2,710,894 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on MRVL. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $75.00 price target on shares of Marvell Technology in a report on Friday, August 29th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Marvell Technology from $100.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, May 30th. UBS Group reduced their price target on Marvell Technology from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, August 29th. Evercore ISI lowered their target price on shares of Marvell Technology from $133.00 to $122.00 and set an “outperform” rating for the company in a research note on Friday, August 29th. Finally, Rosenblatt Securities lowered their target price on shares of Marvell Technology from $124.00 to $95.00 and set a “buy” rating for the company in a report on Friday, August 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.50.

Marvell Technology Trading Down 3.5%

Shares of MRVL stock opened at $62.31 on Thursday. Marvell Technology, Inc. has a 1-year low of $47.08 and a 1-year high of $127.48. The firm has a market cap of $53.83 billion, a P/E ratio of -479.31, a PEG ratio of 0.68 and a beta of 1.85. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.30 and a quick ratio of 0.94. The firm’s 50-day simple moving average is $74.05 and its 200-day simple moving average is $69.89.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.67. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.01 billion. Marvell Technology had a negative net margin of 1.43% and a positive return on equity of 11.02%. The business’s quarterly revenue was up 57.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 earnings per share. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. As a group, equities analysts forecast that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Friday, July 11th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Friday, July 11th. Marvell Technology’s dividend payout ratio (DPR) is currently -184.62%.

Insider Activity

In other Marvell Technology news, CAO Panteha Dixon sold 1,283 shares of the business’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $68.50, for a total transaction of $87,885.50. Following the completion of the transaction, the chief accounting officer owned 29,572 shares in the company, valued at approximately $2,025,682. The trade was a 4.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark Casper sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $72.35, for a total value of $217,050.00. Following the sale, the executive vice president directly owned 17,163 shares in the company, valued at approximately $1,241,743.05. The trade was a 14.88% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,783 shares of company stock valued at $407,716. Company insiders own 0.33% of the company’s stock.

About Marvell Technology

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.