Harvey Capital Management Inc. Acquires Shares of 54,480 Marvell Technology, Inc. $MRVL

Harvey Capital Management Inc. purchased a new position in Marvell Technology, Inc. (NASDAQ:MRVL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 54,480 shares of the semiconductor company’s stock, valued at approximately $4,580,000.

A number of other institutional investors have also recently modified their holdings of the stock. GAMMA Investing LLC grew its position in Marvell Technology by 1.7% during the 3rd quarter. GAMMA Investing LLC now owns 7,306 shares of the semiconductor company’s stock valued at $614,000 after purchasing an additional 122 shares during the last quarter. FSM Wealth Advisors LLC lifted its stake in shares of Marvell Technology by 4.4% in the third quarter. FSM Wealth Advisors LLC now owns 2,939 shares of the semiconductor company’s stock worth $247,000 after buying an additional 123 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in shares of Marvell Technology by 30.4% during the third quarter. Meeder Asset Management Inc. now owns 557 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 130 shares during the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in shares of Marvell Technology by 1.8% during the third quarter. Nations Financial Group Inc. IA ADV now owns 7,353 shares of the semiconductor company’s stock valued at $618,000 after buying an additional 133 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of Marvell Technology by 6.9% during the second quarter. First Horizon Advisors Inc. now owns 2,115 shares of the semiconductor company’s stock valued at $164,000 after acquiring an additional 137 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Marvell Technology

In related news, EVP Mark Casper sold 5,000 shares of the business’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 value of $465,400.00. Following the transaction, the executive vice president directly owned 19,418 shares of the company’s stock, valued at approximately $1,807,427.44. The trade was a 20.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.33% of the company’s stock.

Marvell Technology Stock Down 3.5%

NASDAQ MRVL opened at $80.23 on Monday. The stock’s 50-day moving average price is $85.69 and its 200-day moving average price is $81.17. The company has a quick ratio of 1.64, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. Marvell Technology, Inc. has a 52 week low of $47.08 and a 52 week high of $127.20. The company has a market capitalization of $68.04 billion, a P/E ratio of 28.15, a price-to-earnings-growth ratio of 0.78 and a beta of 1.95.

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

Marvell Technology Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have commented on MRVL shares. Benchmark reiterated a “hold” rating on shares of Marvell Technology in a research note on Tuesday, December 23rd. KeyCorp lifted their price objective on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 3rd. Susquehanna set a $120.00 price objective on shares of Marvell Technology and gave the company a “positive” rating in a research report on Wednesday, December 3rd. Oppenheimer reiterated an “outperform” rating and set a $150.00 target price (up from $115.00) on shares of Marvell Technology in a research note on Wednesday, December 3rd. Finally, Royal Bank Of Canada began coverage on Marvell Technology in a research note on Wednesday, January 14th. They issued an “outperform” rating and a $105.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.09.

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.