Assetmark Inc. Sells 7,406 Shares of Marvell Technology, Inc. $MRVL

Assetmark Inc. lessened its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 14.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,474 shares of the semiconductor company’s stock after selling 7,406 shares during the period. Assetmark Inc.’s holdings in Marvell Technology were worth $3,739,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of Marvell Technology by 160.0% in 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 during the period. Nova Wealth Management Inc. boosted its stake in shares of 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 during the period. Westside Investment Management Inc. grew its stake in Marvell Technology by 62.5% in the 2nd quarter. Westside Investment Management Inc. now owns 416 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 160 shares in the last quarter. N.E.W. Advisory Services LLC bought a new position in Marvell Technology in the second quarter worth approximately $32,000. Finally, Cary Street Partners Investment Advisory LLC purchased a new position in shares of Marvell Technology during the second quarter valued at $34,000. Institutional investors own 83.51% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on MRVL shares. Benchmark reissued a “hold” rating on shares of Marvell Technology in a research report on Tuesday, February 3rd. Piper Sandler set a $110.00 target price on shares of Marvell Technology in a research report on Wednesday, December 3rd. JPMorgan Chase & Co. raised their price objective on Marvell Technology from $120.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 3rd. Morgan Stanley set a $112.00 target price on shares of Marvell Technology in a research report on Wednesday, December 3rd. Finally, Needham & Company LLC lowered their price objective on Marvell Technology from $120.00 to $118.00 and set a “buy” rating on the stock in a research report on Tuesday, February 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $115.16.

Insider Buying and Selling

In other news, EVP Mark Casper sold 5,000 shares of the firm’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 approximately $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 can be accessed through the SEC website. 0.19% of the stock is owned by company insiders.

Marvell Technology Trading Up 0.5%

MRVL opened at $79.01 on Wednesday. The firm has a market capitalization of $66.94 billion, a price-to-earnings ratio of 27.72, a price-to-earnings-growth ratio of 0.62 and a beta of 1.97. The company’s 50 day simple moving average is $82.88 and its two-hundred day simple moving average is $81.79. Marvell Technology, Inc. has a 1-year low of $47.08 and a 1-year high of $112.50. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.64.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data 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. 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 for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. The firm’s revenue for the quarter was up 36.8% compared to the same quarter last year. Marvell Technology has set its Q4 2026 guidance at 0.740-0.840 EPS. Analysts expect that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 29th. Investors of record on Friday, January 9th were paid 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 yield of 0.3%. Marvell Technology’s dividend payout ratio is presently 8.42%.

Marvell Technology 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.