<div id="readability-page-1"><p>iA Global Asset Management Inc. boosted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 93.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 157,218 shares of the semiconductor company's stock after acquiring an additional 75,988 shares during the quarter. iA Global Asset Management Inc.'s holdings in Marvell Technology were worth $10,990,000 at the end of the most recent reporting period.</p><div><p><span></span><span>Get <strong>Marvell Technology</strong> alerts:</span></p></div><ul><li>MarketBeat Week in Review – 6/10 - 6/14</li></ul><p>Other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its position in shares of Marvell Technology by 7.1% in the second quarter. Signaturefd LLC now owns 11,458 shares of the semiconductor company's stock worth $801,000 after buying an additional 755 shares during the last quarter. UMB Bank n.a. boosted its position in Marvell Technology by 8.5% during the second quarter. UMB Bank n.a. now owns 6,113 shares of the semiconductor company's stock worth $427,000 after purchasing an additional 477 shares during the period. Bfsg LLC grew its holdings in Marvell Technology by 439,828.0% during the second quarter. Bfsg LLC now owns 109,982 shares of the semiconductor company's stock valued at $7,688,000 after purchasing an additional 109,957 shares during the last quarter. Migdal Insurance &amp; Financial Holdings Ltd. raised its position in shares of Marvell Technology by 22.0% in the second quarter. Migdal Insurance &amp; Financial Holdings Ltd. now owns 1,485 shares of the semiconductor company's stock valued at $102,000 after purchasing an additional 268 shares during the period. Finally, Arkadios Wealth Advisors bought a new stake in shares of Marvell Technology in the second quarter valued at approximately $408,000. 83.51% of the stock is currently owned by institutional investors and hedge funds. </p><h2>Insider Activity at Marvell Technology</h2><p>In related news, insider Muhammad Raghib Hussain sold 50,000 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the completion of the transaction, the insider now directly owns 838,571 shares in the company, valued at $62,892,825. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Marvell Technology news, insider Muhammad Raghib Hussain sold 50,000 shares of the company's stock in a transaction on Monday, July 8th. The shares were sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the sale, the insider now directly owns 838,571 shares of the company's stock, valued at $62,892,825. The transaction was disclosed in a legal filing with the Securities &amp; Exchange Commission, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $66.75, for a total transaction of $100,125.00. Following the completion of the transaction, the chief financial officer now directly owns 113,253 shares of the company's stock, valued at approximately $7,559,637.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,500 shares of company stock valued at $4,872,620. 0.33% of the stock is owned by corporate insiders. </p><h2>Wall Street Analyst Weigh In</h2><ul><li>Marvell Technology Data Center Revenues Surge, But the Rest Fall</li></ul><p>A number of brokerages have weighed in on MRVL. KeyCorp increased their price target on shares of Marvell Technology from $90.00 to $95.00 and gave the company an &#34;overweight&#34; rating in a report on Tuesday, July 9th. Morgan Stanley lifted their target price on Marvell Technology from $77.00 to $82.00 and gave the stock an &#34;equal weight&#34; rating in a research report on Friday. B. Riley boosted their price target on Marvell Technology from $95.00 to $100.00 and gave the company a &#34;buy&#34; rating in a research note on Friday, May 31st. Bank of America raised their price objective on Marvell Technology from $85.00 to $90.00 and gave the stock a &#34;buy&#34; rating in a research report on Friday. Finally, Needham &amp; Company LLC restated a &#34;buy&#34; rating and set a $95.00 price objective on shares of Marvell Technology in a research report on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, Marvell Technology presently has a consensus rating of &#34;Moderate Buy&#34; and a consensus target price of $91.62.</p><p><b>Check Out Our Latest Analysis on MRVL</b></p><h2>Marvell Technology Trading Up 9.2 %</h2><ul><li>These are the Top 4 Stocks for Buybacks in 2024</li></ul><p>Shares of MRVL opened at $76.24 on Friday. The stock's fifty day simple moving average is $67.95 and its 200-day simple moving average is $69.46. The company has a quick ratio of 1.24, a current ratio of 1.80 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $65.99 billion, a PE ratio of -67.47, a price-to-earnings-growth ratio of 2.99 and a beta of 1.47. Marvell Technology, Inc. has a 12-month low of $46.07 and a 12-month high of $85.76. </p><p>Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. Marvell Technology had a negative net margin of 18.33% and a positive return on equity of 4.51%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the firm earned $0.18 EPS. The company's revenue for the quarter was down 5.1% on a year-over-year basis. As a group, research analysts predict that Marvell Technology, Inc. will post 0.75 earnings per share for the current year. </p><h2>Marvell Technology Dividend Announcement</h2><p>The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 12th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, July 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.31%. Marvell Technology's payout ratio is -21.24%. </p><h2>Marvell Technology Profile</h2> (Free Report)<p>Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.</p><h2>See Also</h2><ul><li>Five stocks we like better than Marvell Technology</li><li>Utilities Stocks Explained – How and Why to Invest in Utilities</li><li>Birkenstock’s Sudden Slide—Why It Might Be Your Next Big Win</li><li>Are Penny Stocks a Good Fit for Your Portfolio?</li><li>Why Dell Can Continue Winning in AI and Beyond</li><li>REIT Stocks - Best REIT Stocks to Add to Your Portfolio Today</li><li>Veeva’s Stock Jumps on Stellar Q2 Results—Don’t Miss Out</li></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9TVJWTA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="350" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9TVJWTA"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. 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MRVL

<p>iA Global Asset Management Inc. has acquired an additional 75,988 shares of Marvell Technology, increasing its holdings by 93.5% to 157,218 shares. This stake is valued at approximately $2,990,000. Other investors, including Signaturefd LLC and UMB Bank n.a., have also increased their positions. A significant insider transaction was also noted, with Muhammad Raghib Hussain selling 50,000 shares for $2,750,000. Various brokerages have raised their price targets for Marvell's shares, with a consensus rating of "Moderate Buy."</p>

iA Global Asset Management Inc. Purchases 75,988 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)