Cornerstone Wealth Management LLC Acquires New Shares in Marvell Technology, Inc. $MRVL

Cornerstone Wealth Management LLC acquired a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 11,996 shares of the semiconductor company’s stock, valued at approximately $3,169,000.

A number of other large investors have also recently made changes to their positions in the business. Cape ANN Savings Bank raised its holdings in shares of Marvell Technology by 2.3% during the second quarter. Cape ANN Savings Bank now owns 2,245 shares of the semiconductor company’s stock valued at $669,000 after acquiring an additional 50 shares in the last quarter. Arlington Trust Co LLC lifted its stake in Marvell Technology by 24.1% in the second quarter. Arlington Trust Co LLC now owns 268 shares of the semiconductor company’s stock worth $80,000 after acquiring an additional 52 shares during the period. GoalVest Advisory LLC boosted its holdings in Marvell Technology by 26.0% in the second quarter. GoalVest Advisory LLC now owns 315 shares of the semiconductor company’s stock valued at $94,000 after acquiring an additional 65 shares in the last quarter. Washington Trust Advisors Inc. boosted its holdings in Marvell Technology by 88.5% in the third quarter. Washington Trust Advisors Inc. now owns 147 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 69 shares in the last quarter. Finally, HBW Advisory Services LLC boosted its holdings in Marvell Technology by 3.3% in the second quarter. HBW Advisory Services LLC now owns 2,270 shares of the semiconductor company’s stock valued at $676,000 after acquiring an additional 73 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

Top Marvell Technology Stories

Investors following MRVL have been watching these stories:

• Positive Sentiment: A broad rebound in AI-linked stocks provided the main near-term lift, with investors buying the dip after last week’s sector weakness. Marvell’s exposure to data-center chips and optical connectivity added to the appeal. Article: What’s Going On With Marvell Technology Stock Wednesday?
• Neutral Sentiment: The rebound may be a recovery from a sharp selloff rather than confirmation of a lasting trend change. Recent strength in data-center demand supports the AI-growth case, but there was no single new company-specific catalyst reported. Article: Marvell Technology stock is rising: Is this a dead cat bounce or a real recovery?
• Negative Sentiment: Quiver reported that Marvell insiders made no open-market purchases and recorded 17 sales over the past six months. This may weigh on sentiment, although insider sales alone do not establish a negative outlook. Article: Marvell Jumps as AI Chip Rally Returns and Lumentum Deal Stays in Focus

Insider Buying and Selling at Marvell Technology

In related news, CAO Justin Scarpulla sold 1,100 shares of the stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $273.59, for a total value of $300,949.00. Following the completion of the transaction, the chief accounting officer directly owned 909 shares in the company, valued at $248,693.31. This trade represents a 54.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew Murphy sold 7,500 shares of Marvell Technology stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $223.39, for a total transaction of $1,675,425.00. Following the transaction, the chief executive officer directly owned 775,686 shares of the company’s stock, valued at approximately $173,280,495.54. This trade represents a 0.96% decrease in their ownership of the stock. 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 57,285 shares of company stock valued at $12,901,763 in the last quarter. 0.12% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on MRVL. Piper Sandler restated an “overweight” rating on shares of Marvell Technology in a report on Thursday, October 29th. Cantor Fitzgerald dropped their target price on shares of Marvell Technology from $350.00 to $225.00 and set a “neutral” rating for the company in a research report on Tuesday, November 3rd. JPMorgan Chase & Co. lifted their target price on shares of Marvell Technology from $305.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, October 7th. Wells Fargo & Company reduced their price target on shares of Marvell Technology from $365.00 to $285.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 3rd. Finally, Wolfe Research increased their price target on shares of Marvell Technology from $280.00 to $375.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 7th. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $300.09.

Marvell Technology Price Performance

Shares of MRVL stock opened at $168.80 on Thursday. The stock has a market cap of $148.02 billion, a price-to-earnings ratio of 55.71, a PEG ratio of 4.61 and a beta of 2.32. The business’s fifty day moving average is $231.09 and its 200 day moving average is $185.39. Marvell Technology, Inc. has a twelve month low of $70.68 and a twelve month high of $329.88. The company has a quick ratio of 2.62, a current ratio of 3.17 and a debt-to-equity ratio of 0.27.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, August 27th. The semiconductor company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.72 billion. Marvell Technology had a return on equity of 13.57% and a net margin of 27.93%. The firm’s quarterly revenue was up 36.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.67 earnings per share. Marvell Technology has set its Q3 2027 guidance at 1.050-1.150 EPS. Research analysts expect that Marvell Technology, Inc. will post 3.05 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 29th. Stockholders of record on Friday, October 9th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, October 9th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.1%. Marvell Technology’s dividend payout ratio is currently 7.92%.

About Marvell Technology

Marvell Technology is a fabless semiconductor company that develops data infrastructure chips and related technologies. Its products include networking and Ethernet chips, storage controllers, processors, optical and connectivity solutions, and custom silicon used in data centers, carrier networks, enterprise systems, and other applications. The company’s products help move, store, process, and secure data across cloud and telecommunications infrastructure. Marvell serves customers around the world, including equipment makers and technology companies that incorporate its semiconductors into their systems.