Cibc World Market Inc. Sells 25,875 Shares of Marvell Technology, Inc. $MRVL

Cibc World Market Inc. cut its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 11.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 200,686 shares of the semiconductor company’s stock after selling 25,875 shares during the period. Cibc World Market Inc.’s holdings in Marvell Technology were worth $17,054,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of MRVL. Vanguard Group Inc. increased its position in shares of Marvell Technology by 23.5% during the 3rd quarter. Vanguard Group Inc. now owns 79,610,208 shares of the semiconductor company’s stock valued at $6,692,830,000 after purchasing an additional 15,166,976 shares during the last quarter. Norges Bank bought a new position in shares of Marvell Technology during the 4th quarter valued at $895,455,000. Ameriprise Financial Inc. grew its holdings in shares of Marvell Technology by 59.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 16,624,827 shares of the semiconductor company’s stock valued at $1,397,751,000 after purchasing an additional 6,217,952 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Marvell Technology by 47.0% during the 3rd quarter. Franklin Resources Inc. now owns 11,903,051 shares of the semiconductor company’s stock valued at $1,000,689,000 after purchasing an additional 3,805,431 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its holdings in shares of Marvell Technology by 111.0% during the 2nd quarter. Rafferty Asset Management LLC now owns 5,810,359 shares of the semiconductor company’s stock valued at $449,722,000 after purchasing an additional 3,056,808 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Key Headlines Impacting Marvell Technology

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

• Positive Sentiment: Raymond James raised its price target on Marvell to $235 from $105 and reiterated a Strong Buy rating, reflecting continued analyst confidence. Raymond James Raises its Price Target on Marvell (MRVL) to $235 from $105
• Neutral Sentiment: Marvell received unusual call-option activity, which may signal trader interest, but it does not by itself change the fundamental outlook.
• Neutral Sentiment: There was ongoing speculation that Marvell could be added to the S&P 500 in an upcoming index rebalancing, which could provide a passive-fund boost if it happens.
• Negative Sentiment: Broader chip stocks sold off after Broadcom’s outlook disappointed Wall Street, dragging MRVL down with the sector. Micron, Marvell, and Broadcom lead chipmakers’ premarket losses
• Negative Sentiment: Several reports warned that Marvell was overbought after its rapid run-up, making it vulnerable to profit-taking and a momentum unwind. Why Is Marvell Technology Stock Falling On Friday?

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 10,000 shares of the stock in a transaction on Friday, April 17th. The shares were sold at an average price of $135.50, for a total transaction of $1,355,000.00. Following the completion of the sale, the executive vice president owned 35,878 shares of the company’s stock, valued at $4,861,469. This represents a 21.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 4,000 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $175.24, for a total transaction of $700,960.00. Following the sale, the chief financial officer directly owned 226,675 shares of the company’s stock, valued at $39,722,527. The trade was a 1.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 255,060 shares of company stock worth $31,959,772 over the last ninety days. 0.12% of the stock is owned by company insiders.

Marvell Technology Trading Down 16.7%

Shares of MRVL opened at $263.47 on Friday. The stock has a market capitalization of $230.48 billion, a P/E ratio of 90.23, a PEG ratio of 2.10 and a beta of 2.29. The company has a quick ratio of 2.66, a current ratio of 3.28 and a debt-to-equity ratio of 0.27. The firm has a fifty day simple moving average of $164.84 and a two-hundred day simple moving average of $112.56. Marvell Technology, Inc. has a twelve month low of $61.44 and a twelve month high of $324.20.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings results on Wednesday, May 27th. The semiconductor company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Marvell Technology had a net margin of 28.99% and a return on equity of 13.83%. The firm’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.62 EPS. Marvell Technology has set its Q2 2027 guidance at 0.880-0.980 EPS. On average, research analysts anticipate that Marvell Technology, Inc. will post 3.04 EPS for the current year.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Friday, April 10th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, April 10th. This represents a $0.24 annualized dividend and a yield of 0.1%. Marvell Technology’s dividend payout ratio is presently 8.22%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Susquehanna increased their target price on shares of Marvell Technology from $100.00 to $230.00 and gave the company a “positive” rating in a report on Tuesday, May 26th. KGI Securities raised shares of Marvell Technology from a “neutral” rating to an “outperform” rating and set a $110.00 target price on the stock in a report on Friday, March 6th. HSBC set a $300.00 target price on shares of Marvell Technology and gave the company a “buy” rating in a report on Tuesday, May 26th. Royal Bank Of Canada increased their target price on shares of Marvell Technology from $170.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Finally, JPMorgan Chase & Co. increased their target price on shares of Marvell Technology from $135.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and a consensus price target of $218.58.

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.