Bank of New York Mellon Corp Sells 77,958 Shares of Marvell Technology, Inc. $MRVL

Bank of New York Mellon Corp decreased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,260,435 shares of the semiconductor company’s stock after selling 77,958 shares during the period. Bank of New York Mellon Corp owned about 0.38% of Marvell Technology worth $274,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC raised its stake in shares of Marvell Technology by 160.0% in the third quarter. Atlantic Edge Private Wealth Management LLC now owns 325 shares of the semiconductor company’s stock worth $27,000 after buying an additional 200 shares during the period. Game Plan Financial Advisors LLC purchased a new stake in Marvell Technology in the 2nd quarter worth approximately $27,000. Kiker Wealth Management LLC raised its stake in Marvell Technology by 374.7% during the 2nd quarter. Kiker Wealth Management LLC now owns 356 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 281 shares during the period. Nova Wealth Management Inc. lifted its holdings in Marvell Technology by 3,922.2% during the third quarter. Nova Wealth Management Inc. now owns 362 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 353 shares in the last quarter. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Marvell Technology in the second quarter worth approximately $32,000. 83.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MRVL. Craig Hallum restated a “buy” rating and set a $141.00 target price on shares of Marvell Technology in a research note on Wednesday, December 3rd. Oppenheimer restated an “outperform” rating and issued a $150.00 price objective (up from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 3rd. Citigroup reiterated a “buy” rating on shares of Marvell Technology in a research report on Monday, December 22nd. Summit Redstone set a $105.00 target price on Marvell Technology in a research note on Wednesday, October 15th. Finally, Benchmark restated a “hold” rating on shares of Marvell Technology in a research note on Tuesday, December 23rd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $115.09.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $81.34 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.64. The company has a market cap of $68.98 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 0.81 and a beta of 1.95. Marvell Technology, Inc. has a 1 year low of $47.08 and a 1 year high of $121.81. The stock’s 50 day simple moving average is $85.88 and its two-hundred day simple moving average is $81.32.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings results on Tuesday, December 2nd. The semiconductor company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.02. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the business posted $0.43 earnings per share. Marvell Technology has set its Q4 2026 guidance at 0.740-0.840 EPS. As a group, equities analysts anticipate that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

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

Insiders Place Their Bets

In related news, EVP Mark Casper sold 5,000 shares of the firm’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 sale, the executive vice president directly owned 19,418 shares in the company, valued at $1,807,427.44. This trade represents a 20.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.19% of the company’s stock.

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.