Oregon Public Employees Retirement Fund Purchases 107,659 Shares of Marvell Technology, Inc. $MRVL

Oregon Public Employees Retirement Fund acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 107,659 shares of the semiconductor company’s stock, valued at approximately $28,445,000.

Several other hedge funds have also recently bought and sold shares of the company. Summa Corp. acquired a new stake in shares of Marvell Technology during the third quarter worth about $14,120,000. IPG Investment Advisors LLC acquired a new position in shares of Marvell Technology in the third quarter valued at approximately $2,239,000. Mullooly Asset Management Inc. acquired a new position in shares of Marvell Technology in the third quarter valued at approximately $242,000. Factory Mutual Insurance Co. increased its stake in Marvell Technology by 81.0% during the 3rd quarter. Factory Mutual Insurance Co. now owns 356,909 shares of the semiconductor company’s stock worth $94,299,000 after buying an additional 159,700 shares during the period. Finally, Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in Marvell Technology during the 3rd quarter worth approximately $5,562,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity

In related news, COO Chris Koopmans sold 10,000 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $186.97, for a total transaction of $1,869,700.00. Following the completion of the sale, the chief operating officer directly owned 202,800 shares of the company’s stock, valued at approximately $37,917,516. This trade represents a 4.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sandeep Bharathi sold 3,685 shares of Marvell Technology stock in a transaction on Friday, October 16th. The stock was sold at an average price of $234.97, for a total transaction of $865,864.45. Following the sale, the insider directly owned 58,748 shares in the company, valued at $13,804,017.56. This trade represents a 5.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 57,285 shares of company stock valued at $12,901,763. 0.12% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on MRVL. Seaport Research Partners began coverage on shares of Marvell Technology in a research report on Tuesday, September 22nd. They issued a “buy” rating and a $270.00 price target for the company. JPMorgan Chase & Co. upped their price objective on Marvell Technology from $305.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. Piper Sandler reiterated an “overweight” rating on shares of Marvell Technology in a research note on Thursday, October 29th. Citigroup lifted their target price on Marvell Technology from $225.00 to $275.00 and gave the company a “buy” rating in a report on Friday, August 21st. Finally, Cantor Fitzgerald lowered their target price on Marvell Technology from $350.00 to $225.00 and set a “neutral” rating for the company in a research note on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $300.85.

Marvell Technology Price Performance

MRVL stock opened at $171.97 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.62 and a current ratio of 3.17. Marvell Technology, Inc. has a 1 year low of $70.68 and a 1 year high of $329.88. The firm has a market cap of $150.80 billion, a P/E ratio of 56.76, a price-to-earnings-growth ratio of 5.11 and a beta of 2.32. The stock has a 50-day simple moving average of $240.15 and a 200-day simple moving average of $183.26.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, August 27th. The semiconductor company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.93 by $0.01. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.72 billion. Marvell Technology had a return on equity of 13.57% and a net margin of 27.93%. Marvell Technology’s revenue for the quarter was up 36.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 EPS. Marvell Technology has set its Q3 2027 guidance at 1.050-1.150 EPS. On average, equities analysts predict that Marvell Technology, Inc. will post 3.05 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 29th. Stockholders of record on Friday, October 9th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, October 9th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.1%. Marvell Technology’s dividend payout ratio (DPR) is currently 7.92%.

Key Marvell Technology News

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

• Positive Sentiment: The proposed all-stock acquisition of Lumentum would combine Marvell’s custom chips and networking products with Lumentum’s optical technology for AI data centers. Marvell expects more than $1 billion in annual cost savings and says the deal could increase adjusted earnings per share in its first year after closing. Read More.
• Positive Sentiment: Some analysts continue to see upside: BMO kept its Buy rating and $325 target, while UBS maintained its Buy rating and $350 target, viewing the deal as supportive of Marvell’s optical-networking opportunity. Read More. Read More.
• Neutral Sentiment: Shares recovered some ground as chip stocks bounced following a sharp selloff, though the rebound followed pronounced losses tied to the acquisition announcement. Read More.
• Neutral Sentiment: COO Chris Koopmans sold 10,000 shares under a pre-arranged Rule 10b5-1 trading plan; he retained 202,800 shares, making the transaction less clearly a signal about near-term prospects. Read More.
• Negative Sentiment: Downgrades and steep target cuts highlighted concerns about dilution, regulatory approval, potential customer conflicts, and execution. BofA cut its rating to Neutral and TD Cowen moved to Hold, with both sharply reducing their targets. Read More. Read More.

Marvell Technology Profile

Marvell Technology, Inc (NASDAQ: MRVL) is a semiconductor company that develops infrastructure solutions for data centers, telecommunications networks, enterprise systems, automotive applications and other connected markets. Its products are designed to support the movement, processing, storage and security of data across complex computing and communications environments.

The company’s portfolio includes data-processing and networking processors, custom application-specific integrated circuits, Ethernet switches and controllers, storage controllers, connectivity products, and electro-optics solutions.