Rafferty Asset Management LLC Has $419.86 Million Holdings in Marvell Technology, Inc. $MRVL

Rafferty Asset Management LLC decreased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 14.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,994,166 shares of the semiconductor company’s stock after selling 816,193 shares during the quarter. Marvell Technology accounts for approximately 1.4% of Rafferty Asset Management LLC’s investment portfolio, making the stock its 18th largest position. Rafferty Asset Management LLC owned 0.58% of Marvell Technology worth $419,860,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Atlantic Edge Private Wealth Management LLC increased 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 purchasing an additional 200 shares in the last quarter. Nova Wealth Management Inc. boosted its position in Marvell Technology by 3,922.2% in the third quarter. Nova Wealth Management Inc. now owns 362 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 353 shares in the last quarter. Westside Investment Management Inc. grew its stake in shares of Marvell Technology by 62.5% during the second quarter. Westside Investment Management Inc. now owns 416 shares of the semiconductor company’s stock worth $32,000 after buying an additional 160 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Marvell Technology during the second quarter worth $32,000. Finally, Cary Street Partners Investment Advisory LLC bought a new position in shares of Marvell Technology in the 2nd quarter valued at $34,000. Institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MRVL shares. TD Cowen restated a “hold” rating on shares of Marvell Technology in a research report on Tuesday. Piper Sandler set a $110.00 price target on Marvell Technology in a research note on Wednesday, December 3rd. Evercore upped their price objective on Marvell Technology from $122.00 to $156.00 and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. Wall Street Zen downgraded shares of Marvell Technology from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Finally, B. Riley Financial reissued a “buy” rating and set a $130.00 target price (up from $100.00) on shares of Marvell Technology in a report on Wednesday, December 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average target price of $115.31.

Insider Activity at Marvell Technology

In related news, EVP Mark Casper sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $93.08, for a total transaction of $465,400.00. Following the completion of the sale, the executive vice president owned 19,418 shares of the company’s stock, valued at $1,807,427.44. This trade represents a 20.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by insiders.

Marvell Technology Stock Up 3.0%

Shares of NASDAQ MRVL opened at $81.69 on Friday. The company’s 50 day moving average price is $81.90 and its 200-day moving average price is $81.88. 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, Inc. has a 52-week low of $47.08 and a 52-week high of $102.77. The company has a market capitalization of $71.17 billion, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 0.64 and a beta of 1.97.

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

Marvell Technology Dividend Announcement

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

Marvell Technology Company Profile

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.