CenterBook Partners LP Grows Stake in Marvell Technology, Inc. $MRVL

CenterBook Partners LP lifted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 96.5% in the fourth quarter, Holdings Channel reports. The firm owned 84,084 shares of the semiconductor company’s stock after buying an additional 41,304 shares during the period. CenterBook Partners LP’s holdings in Marvell Technology were worth $7,145,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of MRVL. Laurel Wealth Advisors LLC acquired a new stake in Marvell Technology in the 4th quarter worth about $25,000. Cherry Tree Wealth Management LLC acquired a new stake in Marvell Technology in the 4th quarter worth about $26,000. Elyxium Wealth LLC acquired a new stake in shares of Marvell Technology in the fourth quarter worth approximately $40,000. Strive Asset Management LLC purchased a new stake in shares of Marvell Technology during the third quarter worth approximately $42,000. Finally, Avalon Trust Co increased its position in shares of Marvell Technology by 70.6% during the third quarter. Avalon Trust Co now owns 650 shares of the semiconductor company’s stock worth $55,000 after purchasing an additional 269 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In other Marvell Technology news, CEO Matthew J. Murphy sold 30,000 shares of the business’s stock in a transaction on Thursday, March 26th. The stock was sold at an average price of $98.70, for a total transaction of $2,961,000.00. Following the transaction, the chief executive officer owned 310,106 shares of the company’s stock, valued at approximately $30,607,462.20. The trade was a 8.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark Casper sold 10,854 shares of the business’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $107.01, for a total value of $1,161,486.54. Following 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 255,060 shares of company stock valued at $31,959,772 in the last three months. Company insiders own 0.12% of the company’s stock.

Key Marvell Technology News

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

• Positive Sentiment: Raymond James raised its price target on Marvell to $235 from $105 and reiterated a Strong Buy rating, reflecting continued analyst confidence. Raymond James Raises its Price Target on Marvell (MRVL) to $235 from $105
• Neutral Sentiment: Marvell received unusual call-option activity, which may signal trader interest, but it does not by itself change the fundamental outlook.
• Neutral Sentiment: There was ongoing speculation that Marvell could be added to the S&P 500 in an upcoming index rebalancing, which could provide a passive-fund boost if it happens.
• Negative Sentiment: Broader chip stocks sold off after Broadcom’s outlook disappointed Wall Street, dragging MRVL down with the sector. Micron, Marvell, and Broadcom lead chipmakers’ premarket losses
• Negative Sentiment: Several reports warned that Marvell was overbought after its rapid run-up, making it vulnerable to profit-taking and a momentum unwind. Why Is Marvell Technology Stock Falling On Friday?

Analyst Upgrades and Downgrades

Several analysts recently commented on MRVL shares. Craig Hallum boosted their price target on Marvell Technology from $141.00 to $164.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Wells Fargo & Company boosted their price target on Marvell Technology from $195.00 to $240.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. UBS Group boosted their price target on Marvell Technology from $195.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Susquehanna boosted their price target on Marvell Technology from $100.00 to $230.00 and gave the stock a “positive” rating in a research report on Tuesday, May 26th. Finally, Royal Bank Of Canada boosted their price target on Marvell Technology from $170.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $218.58.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $263.47 on Monday. The stock’s fifty day moving average is $164.84 and its two-hundred day moving average is $112.76. The firm has a market capitalization of $230.48 billion, a P/E ratio of 90.23, a price-to-earnings-growth ratio of 1.72 and a beta of 2.29. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.66 and a current ratio of 3.28. Marvell Technology, Inc. has a fifty-two week low of $61.44 and a fifty-two week high of $324.20.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data on Wednesday, May 27th. The semiconductor company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.41 billion. Marvell Technology had a return on equity of 13.83% and a net margin of 28.99%.The firm’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 earnings per share. Marvell Technology has set its Q2 2027 guidance at 0.880-0.980 EPS. On average, research analysts anticipate that Marvell Technology, Inc. will post 3.08 earnings per share for the current year.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Friday, April 10th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, April 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.1%. Marvell Technology’s payout ratio is 8.22%.

Marvell Technology Profile

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.