37,055 Shares in Marvell Technology, Inc. $MRVL Acquired by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the third quarter, Holdings Channel.com reports. The fund acquired 37,055 shares of the semiconductor company’s stock, valued at approximately $3,115,000.

Several other large investors have also recently added to or reduced their stakes in MRVL. Intech Investment Management LLC grew its holdings in shares of Marvell Technology by 3.9% during the 1st quarter. Intech Investment Management LLC now owns 28,784 shares of the semiconductor company’s stock valued at $1,772,000 after acquiring an additional 1,085 shares in the last quarter. Brookstone Capital Management acquired a new stake in Marvell Technology during the second quarter valued at $257,000. Leavell Investment Management Inc. purchased a new position in Marvell Technology in the second quarter valued at about $201,000. Brighton Jones LLC grew its stake in Marvell Technology by 51.2% in the second quarter. Brighton Jones LLC now owns 16,600 shares of the semiconductor company’s stock valued at $1,285,000 after purchasing an additional 5,620 shares in the last quarter. Finally, Interchange Capital Partners LLC acquired a new position in Marvell Technology in the 2nd quarter worth about $241,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Stock Performance

Shares of MRVL opened at $77.79 on Tuesday. The company has a market capitalization of $67.77 billion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 0.63 and a beta of 1.97. 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, Inc. has a one year low of $47.08 and a one year high of $104.67. The company’s fifty day moving average price is $82.19 and its 200 day moving average price is $81.87.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings results 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. The company had revenue of $2.07 billion during 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%. The business’s quarterly revenue was up 36.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.43 earnings per share. Marvell Technology has set its Q4 2026 guidance at 0.740-0.840 EPS. As a group, analysts expect that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Dividend Announcement

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

Insider Buying and Selling

In other news, EVP Mark Casper sold 5,000 shares of the firm’s stock in a transaction 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 sale, the executive vice president owned 19,418 shares in the company, valued at approximately $1,807,427.44. This trade represents a 20.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MRVL has been the subject of several research reports. Needham & Company LLC reduced their price target on Marvell Technology from $120.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday, February 3rd. HSBC initiated coverage on shares of Marvell Technology in a research report on Monday, November 24th. They set a “hold” rating and a $85.00 price objective on the stock. Zacks Research downgraded shares of Marvell Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Wall Street Zen downgraded shares of Marvell Technology from a “buy” rating to a “hold” rating in a report on Saturday. Finally, UBS Group upped their price objective on shares of Marvell Technology from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.31.

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.