Glenview Trust Co Sells 15,728 Shares of Marvell Technology, Inc. $MRVL

Glenview Trust Co reduced its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 6.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 239,876 shares of the semiconductor company’s stock after selling 15,728 shares during the quarter. Glenview Trust Co’s holdings in Marvell Technology were worth $23,760,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MRVL. Laurel Wealth Advisors LLC purchased a new position in Marvell Technology in the 4th quarter worth about $25,000. Hilton Head Capital Partners LLC increased its position in shares of Marvell Technology by 978.3% during the first quarter. Hilton Head Capital Partners LLC now owns 248 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 225 shares in the last quarter. Jessup Wealth Management Inc purchased a new stake in shares of Marvell Technology during the 4th quarter valued at $25,000. Cherry Tree Wealth Management LLC acquired a new stake in shares of Marvell Technology in the 4th quarter worth $26,000. Finally, MidFirst Bank purchased a new position in Marvell Technology during the 4th quarter worth $28,000. 83.51% of the stock is currently owned by institutional investors.

Key Marvell Technology News

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

• Positive Sentiment: Chip stocks, including Marvell, rallied as investors bought the dip after a broad semiconductor sell-off, suggesting improving sentiment toward the group. The Memory Stock Sell-Off Created a ‘Strong Entry Point,’ Says Morgan Stanley. Investors Are Buying In.
• Positive Sentiment: Wall Street is warming to Marvell after its XConn acquisition, reinforcing the bullish case that the company is gaining traction in AI data center infrastructure. Wall Street Is Warming to Marvell After Its XConn Acquisition. Here’s The Price Target
• Positive Sentiment: Analyst and investor commentary continues to highlight Marvell as a potential winner from rising AI memory and data-center spending, which supports the stock’s rebound narrative. AI Investors Are Becoming Pickier. 2 Stocks Still Stand Out.
• Neutral Sentiment: Quarterly earnings roundup coverage keeps Marvell in focus versus other semiconductor manufacturers, but the headline does not appear to introduce a major new catalyst on its own. Q1 earnings roundup: Marvell Technology (NASDAQ:MRVL) and the rest of the semiconductor manufacturing segment
• Negative Sentiment: The stock has also been described as highly volatile after a sharp recent decline, which reminds investors that sentiment can turn quickly even amid AI optimism. Wall Street Is Warming to Marvell After Its XConn Acquisition. Here’s The Price Target

Marvell Technology Trading Up 3.3%

Shares of NASDAQ:MRVL opened at $194.94 on Tuesday. The company has a quick ratio of 2.66, a current ratio of 3.28 and a debt-to-equity ratio of 0.27. Marvell Technology, Inc. has a 52-week low of $61.44 and a 52-week high of $329.88. The stock has a market cap of $170.53 billion, a price-to-earnings ratio of 66.76, a PEG ratio of 1.24 and a beta of 2.20. The business has a 50-day moving average price of $241.01 and a 200-day moving average price of $150.28.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings results on Wednesday, May 27th. The semiconductor company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. Marvell Technology had a net margin of 28.99% and a return on equity of 13.83%. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the prior year, the company earned $0.62 EPS. Marvell Technology’s quarterly revenue was up 27.6% on a year-over-year basis. Marvell Technology has set its Q2 2027 guidance at 0.880-0.980 EPS. Equities analysts predict that Marvell Technology, Inc. will post 3.07 EPS for the current year.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Friday, July 10th will be paid a $0.06 dividend. The ex-dividend date is Friday, July 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.1%. Marvell Technology’s dividend payout ratio is presently 8.22%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MRVL shares. Loop Capital raised Marvell Technology to a “strong-buy” rating in a report on Tuesday, June 16th. JPMorgan Chase & Co. increased their price objective on shares of Marvell Technology from $135.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Bank of America lifted their target price on shares of Marvell Technology from $240.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Wells Fargo & Company boosted their target price on shares of Marvell Technology from $195.00 to $240.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Finally, Raymond James Financial set a $235.00 price target on shares of Marvell Technology and gave the company a “strong-buy” rating in a research note on Thursday, May 28th. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average price target of $245.45.

Insider Activity

In related news, CEO Matthew J. Murphy sold 7,500 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $177.26, for a total transaction of $1,329,450.00. Following the completion of the transaction, the chief executive officer directly owned 739,397 shares in the company, valued at $131,065,512.22. The trade was a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Durn sold 2,250 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $281.01, for a total transaction of $632,272.50. Following the completion of the sale, the chief financial officer directly owned 6,902 shares in the company, valued at approximately $1,939,531.02. The trade was a 24.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 45,981 shares of company stock valued at $9,835,542 over the last quarter. Insiders own 0.12% of the company’s stock.

Marvell Technology Company 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.