Marvell Technology, Inc. $MRVL Position Increased by Salem Investment Counselors Inc.
Salem Investment Counselors Inc. increased its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 415.9% in Q2, owning 31,136 shares valued at $2.41 million. Other institutional investors also adjusted their positions. Analysts have mixed ratings on MRVL, with a consensus rating of "Moderate Buy" and a target price of $90.50. Recent insider sales were noted, and MRVL stock rose 1.1%, opening at $67.35, with a 1-year range of $47.08 to $127.48.
Salem Investment Counselors Inc. raised its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 415.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,136 shares of the semiconductor company's stock after buying an additional 25,101 shares during the period. Salem Investment Counselors Inc.'s holdings in Marvell Technology were worth $2,410,000 as of its most recent SEC filing.
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Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Marvell Technology in the 4th quarter worth approximately $234,000. Westbourne Investments Inc. acquired a new position in Marvell Technology in the 1st quarter worth approximately $246,000. Dynamic Advisor Solutions LLC boosted its stake in Marvell Technology by 5.0% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 4,313 shares of the semiconductor company's stock worth $266,000 after purchasing an additional 206 shares during the period. Siren L.L.C. boosted its stake in Marvell Technology by 636.2% in the 1st quarter. Siren L.L.C. now owns 36,808 shares of the semiconductor company's stock worth $2,266,000 after purchasing an additional 31,808 shares during the period. Finally, Swedbank AB boosted its stake in Marvell Technology by 4.3% in the 1st quarter. Swedbank AB now owns 2,264,520 shares of the semiconductor company's stock worth $139,426,000 after purchasing an additional 93,386 shares during the period. Institutional investors and hedge funds own 83.51% of the company's stock.
Wall Street Analyst Weigh In
MRVL has been the subject of a number of recent analyst reports. Bank of America reaffirmed a "neutral" rating and issued a $78.00 price objective (down previously from $90.00) on shares of Marvell Technology in a research note on Friday, August 29th. Evercore ISI decreased 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. Susquehanna decreased their target price on shares of Marvell Technology from $110.00 to $90.00 and set a "positive" rating for the company in a research note on Tuesday, May 27th. Morgan Stanley decreased their target price on shares of Marvell Technology from $80.00 to $76.00 and set an "equal weight" rating for the company in a research note on Friday, August 29th. Finally, Zacks Research lowered shares of Marvell Technology from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.50.
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Insider Activity at Marvell Technology
In related news, CAO Panteha Dixon sold 1,283 shares of Marvell Technology stock in a transaction on Monday, June 16th. The shares were sold at an average price of $68.50, for a total value of $87,885.50. Following the completion of the sale, the chief accounting officer owned 29,572 shares of the company's stock, valued at approximately $2,025,682. The trade was a 4.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Casper sold 3,000 shares of Marvell Technology stock in a transaction on Friday, July 18th. The shares were sold at an average price of $72.35, for a total transaction of $217,050.00. Following the completion of the sale, the executive vice president directly owned 17,163 shares of the company's stock, 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 90 days, insiders sold 5,783 shares of company stock valued at $407,716. Insiders own 0.19% of the company's stock.
Marvell Technology Stock Up 1.1%
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MRVL stock opened at $67.35 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 1 year low of $47.08 and a 1 year high of $127.48. The company has a fifty day simple moving average of $72.57 and a 200 day simple moving average of $67.87. The firm has a market cap of $58.06 billion, a PE ratio of -518.08, a PEG ratio of 0.80 and a beta of 1.85.
Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its quarterly earnings data on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.67. Marvell Technology had a negative net margin of 1.43% and a positive return on equity of 11.01%. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the business earned $0.30 EPS. Marvell Technology's quarterly revenue was up 57.6% compared to the same quarter last year. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. Sell-side analysts anticipate that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.
Marvell Technology Company Profile
(Free Report)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.
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