Pittenger & Anderson Inc. Cuts Position in Marvell Technology, Inc. $MRVL

Pittenger & Anderson Inc. lowered its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 95.8% in the third quarter, Holdings Channel.com reports. The fund owned 750 shares of the semiconductor company’s stock after selling 17,310 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Marvell Technology were worth $63,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Pandora Wealth Inc. increased its holdings in shares of Marvell Technology by 21.1% in the 3rd quarter. Pandora Wealth Inc. now owns 2,300 shares of the semiconductor company’s stock valued at $193,000 after purchasing an additional 400 shares in the last quarter. Gagnon Securities LLC boosted its holdings in Marvell Technology by 3.8% during the third quarter. Gagnon Securities LLC now owns 6,327 shares of the semiconductor company’s stock worth $532,000 after buying an additional 231 shares in the last quarter. Foundations Investment Advisors LLC boosted its holdings in Marvell Technology by 58.7% during the third quarter. Foundations Investment Advisors LLC now owns 5,990 shares of the semiconductor company’s stock worth $504,000 after buying an additional 2,215 shares in the last quarter. AE Wealth Management LLC grew its position in Marvell Technology by 27.7% during the third quarter. AE Wealth Management LLC now owns 89,329 shares of the semiconductor company’s stock worth $7,510,000 after buying an additional 19,379 shares during the period. Finally, Financial Security Advisor Inc. increased its holdings in Marvell Technology by 23.7% in the third quarter. Financial Security Advisor Inc. now owns 3,993 shares of the semiconductor company’s stock valued at $336,000 after buying an additional 764 shares in the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Stock Performance

Marvell Technology stock opened at $78.92 on Friday. Marvell Technology, Inc. has a fifty-two week low of $47.08 and a fifty-two week high of $121.81. The company has a market capitalization of $66.93 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 0.79 and a beta of 1.95. The stock has a fifty day moving average of $85.91 and a two-hundred day moving average of $81.37. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 2.01.

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

Marvell Technology Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Benchmark reissued a “hold” rating on shares of Marvell Technology in a research note on Tuesday, December 23rd. Royal Bank Of Canada started coverage on Marvell Technology in a research note on Wednesday, January 14th. They issued an “outperform” rating and a $105.00 price objective for the company. Roth Mkm boosted their target price on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Marvell Technology in a report on Monday, December 29th. Finally, UBS Group set a $100.00 price target on Marvell Technology in a research report on Wednesday, December 3rd. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average target price of $115.09.

Insider Activity at Marvell Technology

In other news, EVP Mark Casper sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were 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 of the company’s stock, valued at $1,807,427.44. The trade was a 20.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.19% of the stock is currently 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.