Prospera Financial Services Inc Sells 28,397 Shares of Marvell Technology, Inc. $MRVL

Prospera Financial Services Inc trimmed its position in Marvell Technology, Inc. (NASDAQ:MRVLFree Report) by 57.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,142 shares of the semiconductor company’s stock after selling 28,397 shares during the quarter. Prospera Financial Services Inc’s holdings in Marvell Technology were worth $1,778,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of MRVL. Atlantic Edge Private Wealth Management LLC lifted its position in Marvell Technology by 160.0% during the 3rd quarter. Atlantic Edge Private Wealth Management LLC now owns 325 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 200 shares during the last quarter. Nova Wealth Management Inc. increased its stake in shares of Marvell Technology by 3,922.2% in the third quarter. Nova Wealth Management Inc. now owns 362 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 353 shares during the period. N.E.W. Advisory Services LLC acquired a new position in shares of Marvell Technology during the 2nd quarter worth about $32,000. Westside Investment Management Inc. boosted its stake in Marvell Technology by 62.5% during the 2nd quarter. Westside Investment Management Inc. now owns 416 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 160 shares during the period. Finally, Cary Street Partners Investment Advisory LLC bought a new stake in Marvell Technology during the 2nd quarter valued at approximately $34,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. TD Cowen reaffirmed a “hold” rating on shares of Marvell Technology in a research report on Wednesday, December 3rd. Wells Fargo & Company raised their price objective on shares of Marvell Technology from $90.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 3rd. Jefferies Financial Group upped their target price on shares of Marvell Technology from $80.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, December 3rd. Craig Hallum reissued a “buy” rating and issued a $141.00 price target on shares of Marvell Technology in a report on Wednesday, December 3rd. Finally, Summit Insights upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating in a report on Wednesday, December 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $115.16.

Read Our Latest Stock Report on MRVL

Marvell Technology Price Performance

Shares of Marvell Technology stock opened at $78.61 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 2.01. The firm’s 50-day simple moving average is $83.34 and its 200-day simple moving average is $81.73. Marvell Technology, Inc. has a twelve month low of $47.08 and a twelve month high of $112.50. The firm has a market cap of $66.60 billion, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 0.62 and a beta of 1.97.

Marvell Technology (NASDAQ:MRVLGet Free Report) last posted its quarterly earnings results on Tuesday, December 2nd. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.02. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.06 billion. Marvell Technology had a net margin of 31.75% and a return on equity of 13.15%. The company’s quarterly revenue was up 36.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.43 earnings per share. Marvell Technology has set its Q4 2026 guidance at 0.740-0.840 EPS. As a group, research analysts expect that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 29th. Shareholders of record on Friday, January 9th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, January 9th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. Marvell Technology’s dividend payout ratio (DPR) is presently 8.42%.

Insider Activity at Marvell Technology

In other news, EVP Mark Casper sold 5,000 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $93.08, for a total value of $465,400.00. Following the sale, the executive vice president owned 19,418 shares of the company’s stock, valued at approximately $1,807,427.44. This represents a 20.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Key Headlines Impacting Marvell Technology

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

Marvell Technology Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)

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