Rafferty Asset Management LLC Sells 816,193 Shares of Marvell Technology, Inc. $MRVL

Rafferty Asset Management LLC trimmed its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 14.0% in the third quarter, HoldingsChannel reports. The firm owned 4,994,166 shares of the semiconductor company’s stock after selling 816,193 shares during the period. Marvell Technology makes up about 1.4% of Rafferty Asset Management LLC’s portfolio, making the stock its 18th largest position. Rafferty Asset Management LLC’s holdings in Marvell Technology were worth $419,860,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Intech Investment Management LLC grew its stake in shares of Marvell Technology by 3.9% in the 1st quarter. Intech Investment Management LLC now owns 28,784 shares of the semiconductor company’s stock valued at $1,772,000 after buying an additional 1,085 shares during the period. Daymark Wealth Partners LLC acquired a new position in Marvell Technology during the 2nd quarter worth approximately $217,000. Flagship Harbor Advisors LLC boosted its holdings in Marvell Technology by 8.6% in the second quarter. Flagship Harbor Advisors LLC now owns 10,633 shares of the semiconductor company’s stock worth $823,000 after acquiring an additional 839 shares in the last quarter. World Investment Advisors grew its stake in Marvell Technology by 14.9% in the second quarter. World Investment Advisors now owns 51,853 shares of the semiconductor company’s stock valued at $4,013,000 after acquiring an additional 6,737 shares during the period. Finally, Arkadios Wealth Advisors increased its holdings in shares of Marvell Technology by 6.0% during the second quarter. Arkadios Wealth Advisors now owns 16,952 shares of the semiconductor company’s stock valued at $1,312,000 after acquiring an additional 959 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analysts Set New Price Targets

MRVL has been the topic of a number of recent research reports. Raymond James Financial reiterated a “strong-buy” rating on shares of Marvell Technology in a report on Tuesday, January 6th. Melius Research raised shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $135.00 price objective on the stock in a research note on Monday, January 5th. Oppenheimer reiterated an “outperform” rating and set a $150.00 price objective (up from $115.00) on shares of Marvell Technology in a report on Wednesday, December 3rd. Stifel Nicolaus upped their target price on shares of Marvell Technology from $95.00 to $114.00 and gave the stock a “buy” rating in a report on Wednesday, December 3rd. Finally, TD Cowen reiterated a “hold” rating on shares of Marvell Technology in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and an average price target of $115.31.

Marvell Technology Stock Up 3.0%

Marvell Technology stock opened at $81.69 on Friday. Marvell Technology, Inc. has a fifty-two week low of $47.08 and a fifty-two week high of $102.77. 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 $81.90 and its 200 day simple moving average is $81.88. The stock has a market cap of $71.17 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 0.64 and a beta of 1.97.

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

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 29th. Shareholders of record on Friday, January 9th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, January 9th. This represents a $0.24 annualized dividend and a yield of 0.3%. Marvell Technology’s payout ratio is currently 8.42%.

Insider Transactions at Marvell Technology

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

About Marvell Technology

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.