53,104 Shares of Marvell Technology, Inc. $MRVL Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the third quarter, Holdings Channel.com reports. The institutional investor bought 53,104 shares of the semiconductor company’s stock, valued at approximately $14,031,000.

Several other hedge funds have also modified their holdings of MRVL. BlackRock Inc. boosted its holdings in shares of Marvell Technology by 34.1% in the 2nd quarter. BlackRock Inc. now owns 85,641,174 shares of the semiconductor company’s stock valued at $25,511,649,000 after buying an additional 21,798,190 shares in the last quarter. State Street Corp raised its stake in shares of Marvell Technology by 79.3% during the 2nd quarter. State Street Corp now owns 41,834,272 shares of the semiconductor company’s stock worth $12,462,011,000 after acquiring an additional 18,495,866 shares in the last quarter. Bank of America Corp DE bought a new position in shares of Marvell Technology during the 2nd quarter worth approximately $2,607,795,000. Bank of New York Mellon Corp raised its stake in shares of Marvell Technology by 153.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,957,985 shares of the semiconductor company’s stock worth $2,370,604,000 after acquiring an additional 4,815,725 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in Marvell Technology during the second quarter valued at approximately $1,742,526,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CAO Justin Scarpulla sold 1,100 shares of Marvell Technology stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Matthew J. Murphy sold 7,500 shares of Marvell Technology stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $223.39, for a total value of $1,675,425.00. Following the sale, the chief executive officer directly owned 775,686 shares of the company’s stock, valued at approximately $173,280,495.54. This represents a 0.96% 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. Insiders sold 57,285 shares of company stock valued at $12,901,763 in the last quarter. Insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MRVL. Morgan Stanley raised their target price on shares of Marvell Technology from $268.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 7th. Royal Bank Of Canada decreased their price objective on Marvell Technology from $425.00 to $250.00 and set an “outperform” rating for the company in a report on Tuesday, November 3rd. Citigroup raised their price objective on Marvell Technology from $225.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 21st. Benchmark restated a “buy” rating on shares of Marvell Technology in a research note on Monday, August 24th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Marvell Technology in a research report on Wednesday, October 7th. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $300.09.

Marvell Technology Trading Up 9.3%

Shares of Marvell Technology stock opened at $168.80 on Thursday. 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 12-month low of $70.68 and a 12-month high of $329.88. The firm has a market capitalization of $148.02 billion, a price-to-earnings ratio of 55.71, a PEG ratio of 4.61 and a beta of 2.32. The firm’s 50 day simple moving average is $231.09 and its two-hundred day simple moving average is $185.39.

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

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 29th. Investors of record on Friday, October 9th were given a $0.06 dividend. This represents a $0.24 annualized dividend 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 presently 7.92%.

Trending Headlines about Marvell Technology

Investors following MRVL have been watching these headlines:

• Positive Sentiment: The proposed Lumentum acquisition could combine Marvell’s silicon capabilities with optical technology for AI data centers. Marvell has touted stronger long-term growth and more than $1 billion in annual run-rate cost synergies. Article: Marvell Jumps as AI Chip Rally Returns and Lumentum Deal Stays in Focus
• Negative Sentiment: The $115 billion all-stock Lumentum deal remains a substantial execution and valuation risk. A report citing merger specialists put the odds of closing at roughly 50%, while other coverage noted that Marvell’s valuation already assumes significant future growth. Article: Marvell’s $115 Billion Lumentum Deal Faces 50-50 Odds
• Negative Sentiment: Quiver reported that Marvell insiders made no open-market purchases and recorded 17 sales over the past six months. This may weigh on sentiment, although insider sales alone do not establish a negative outlook. Article: Marvell Jumps as AI Chip Rally Returns and Lumentum Deal Stays in Focus

Marvell Technology Company Profile

Marvell Technology is a fabless semiconductor company that develops data infrastructure chips and related technologies. Its products include networking and Ethernet chips, storage controllers, processors, optical and connectivity solutions, and custom silicon used in data centers, carrier networks, enterprise systems, and other applications. The company’s products help move, store, process, and secure data across cloud and telecommunications infrastructure. Marvell serves customers around the world, including equipment makers and technology companies that incorporate its semiconductors into their systems.