Kimelman & Baird LLC Cuts Stock Holdings in Marvell Technology, Inc. $MRVL

Kimelman & Baird LLC lessened its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 3.4% in the second quarter, Holdings Channel.com reports. The firm owned 238,388 shares of the semiconductor company’s stock after selling 8,394 shares during the period. Marvell Technology makes up about 3.8% of Kimelman & Baird LLC’s investment portfolio, making the stock its 3rd largest position. Kimelman & Baird LLC’s holdings in Marvell Technology were worth $71,013,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Marvell Technology by 34.1% during the second quarter. BlackRock Inc. now owns 85,641,174 shares of the semiconductor company’s stock worth $25,511,649,000 after buying an additional 21,798,190 shares during the period. Norges Bank acquired a new stake in Marvell Technology in the 4th quarter valued at approximately $895,455,000. Bank of America Corp DE acquired a new stake in Marvell Technology in the 2nd quarter valued at approximately $2,607,795,000. Legal & General Group Plc bought a new stake in Marvell Technology in the 2nd quarter valued at approximately $1,742,526,000. Finally, Bank of New York Mellon Corp lifted its stake in Marvell Technology by 153.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 7,957,985 shares of the semiconductor company’s stock valued at $2,370,604,000 after acquiring an additional 4,815,725 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity

In related news, CEO Matthew J. Murphy sold 7,500 shares of Marvell Technology stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $236.08, for a total transaction of $1,770,600.00. Following the completion of the transaction, the chief executive officer owned 783,186 shares in the company, valued at approximately $184,894,550.88. This trade represents a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sandeep Bharathi sold 2,231 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $299.13, for a total value of $667,359.03. Following the transaction, the insider directly owned 55,530 shares in the company, valued at approximately $16,610,688.90. This trade represents a 3.86% decrease in their position. The SEC filing for this sale provides additional information. 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. Over the last quarter, insiders have sold 41,981 shares of company stock valued at $9,753,132. Company insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $360.00 price target on shares of Marvell Technology in a research note on Thursday, August 20th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $240.00 price objective on shares of Marvell Technology in a research report on Thursday, May 28th. Scotiabank initiated coverage on shares of Marvell Technology in a research report on Tuesday, May 26th. They issued an “outperform” rating for the company. Rosenblatt Securities lifted their price target on shares of Marvell Technology from $240.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, DA Davidson set a $225.00 price target on shares of Marvell Technology in a research report on Tuesday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $265.76.

Key Stories Impacting Marvell Technology

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

• Positive Sentiment: Marvell reported record fiscal Q2 revenue of $2.74 billion, up 36.5% year over year, while adjusted EPS of $0.94 narrowly exceeded the $0.93 consensus estimate. Data-center revenue jumped 46% to $2.17 billion, highlighting strong AI infrastructure demand. MRVL Q2 Earnings Beat on Data Center Strength, Outlook Raised
• Positive Sentiment: Management raised its fiscal 2027 revenue outlook to approximately $12 billion and expects fiscal Q3 EPS of $1.05-$1.15, above the $1.03 analyst estimate. The company also pointed to accelerating custom-chip and networking opportunities across AI data centers. Marvell Q2 Earnings Call Highlights Faster AI Data Center Growth
• Positive Sentiment: Several analysts remained constructive: Needham raised its target to $300, Oppenheimer increased its target to $325 and maintained an outperform rating, while Rosenblatt and Needham cited the long-term potential of Marvell’s Google AI-chip relationship. Marvell’s Google AI Chip Deal Could Drive Long-Term Revenue
• Neutral Sentiment: Analyst opinion is divided on timing and valuation. TD Cowen raised its target to $245 but retained a hold rating, and B. Riley lowered its target to $315 while keeping a buy rating. Options activity and some analysts view the selloff as a potential buying opportunity.
• Negative Sentiment: The immediate catalyst for the decline was disappointment with the longer-term outlook. Investors reportedly learned that meaningful revenue from the Google custom-AI-chip deal may not arrive until fiscal 2029, delaying the payoff from a partnership that had fueled lofty expectations. Marvell Shares Slide Over Timing of Google AI Deal Revenue
• Negative Sentiment: At a valuation near 74 times earnings after a surge of more than 180% this year, investors expected a much larger earnings and guidance beat. The narrow quarterly beat therefore failed to justify the premium multiple for some market participants.
• Negative Sentiment: Concerns about margins, execution and the competitive custom-silicon market also weighed on sentiment, particularly as management’s fiscal 2028 outlook did not provide enough upside relative to expectations. Marvell Shares Tumble as Outlook Underwhelms
• Negative Sentiment: Quiver data showed 22 insider sales and no insider purchases over the past six months, an additional, though not necessarily company-specific, caution signal for investors evaluating the stock’s elevated valuation.

Marvell Technology Trading Down 10.3%

NASDAQ MRVL opened at $216.62 on Friday. Marvell Technology, Inc. has a 12 month low of $61.44 and a 12 month high of $329.88. The company has a current ratio of 3.28, a quick ratio of 2.66 and a debt-to-equity ratio of 0.27. The stock has a 50 day moving average of $227.22 and a 200-day moving average of $176.56. The company has a market cap of $189.50 billion, a PE ratio of 71.49, a PEG ratio of 1.51 and a beta of 2.24.

Marvell Technology (NASDAQ:MRVL) last issued its earnings results on Thursday, August 27th. The semiconductor company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.72 billion. Marvell Technology had a net margin of 27.93% and a return on equity of 14.22%. The firm’s revenue for the quarter was up 36.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 earnings per share. Marvell Technology has set its Q3 2027 guidance at 1.050-1.150 EPS. On average, equities research analysts anticipate that Marvell Technology, Inc. will post 3.07 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 30th. Stockholders of record on Friday, July 10th were issued 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, July 10th. Marvell Technology’s dividend payout ratio is presently 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.