12,000 Shares in Marvell Technology, Inc. $MRVL Purchased by Easterly Investment Partners LLC

Key Points

• Easterly Investment Partners LLC has purchased 12,000 shares of Marvell Technology, valued at approximately $929,000, indicating institutional interest in the semiconductor company.
• CEO Matthew J. Murphy recently acquired 13,600 shares worth over $1 million, reflecting insider confidence in the company's prospects.
• Marvell Technology announced a $5 billion stock buyback plan, allowing the purchase of up to 7.8% of its shares, signaling the board's belief that the stock is undervalued.

Easterly Investment Partners LLC bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 12,000 shares of the semiconductor company's stock, valued at approximately $929,000.

Several other institutional investors also recently made changes to their positions in MRVL. Hughes Financial Services LLC bought a new stake in shares of Marvell Technology in the 1st quarter worth approximately $26,000. Rossby Financial LCC bought a new stake in Marvell Technology in the first quarter valued at $27,000. Financial Connections Group Inc. boosted its holdings in shares of Marvell Technology by 776.0% during the first quarter. Financial Connections Group Inc. now owns 438 shares of the semiconductor company's stock valued at $27,000 after acquiring an additional 388 shares during the period. Game Plan Financial Advisors LLC bought a new position in shares of Marvell Technology during the second quarter worth about $27,000. Finally, Vision Financial Markets LLC acquired a new stake in shares of Marvell Technology in the 1st quarter worth about $28,000. 83.51% of the stock is owned by institutional investors.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CEO Matthew J. Murphy bought 13,600 shares of the business's stock in a transaction that occurred on Thursday, September 25th. The stock was acquired at an average cost of $77.09 per share, with a total value of $1,048,424.00. Following the completion of the purchase, the chief executive officer directly owned 268,637 shares in the company, valued at approximately $20,709,226.33. This trade represents a 5.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Sandeep Bharathi bought 3,400 shares of the business's stock in a transaction that occurred on Thursday, September 25th. The shares were acquired at an average cost of $78.03 per share, with a total value of $265,302.00. Following the completion of the purchase, the insider owned 73,392 shares of the company's stock, valued at approximately $5,726,777.76. The trade was a 4.86% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 27,200 shares of company stock valued at $2,109,632 in the last ninety days. Company insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

MRVL has been the subject of a number of analyst reports. Benchmark reissued a "buy" rating and set a $95.00 target price on shares of Marvell Technology in a research note on Friday, August 29th. Roth Capital reiterated a "buy" rating on shares of Marvell Technology in a research report on Wednesday. Zacks Research raised Marvell Technology from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 24th. Barclays reaffirmed an "overweight" rating and set a $80.00 target price on shares of Marvell Technology in a research note on Friday, August 29th. Finally, Evercore ISI decreased their price target on Marvell Technology from $133.00 to $122.00 and set an "outperform" rating for the company in a research note on Friday, August 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $93.06.

Marvell Technology Trading Down 0.3%

Shares of NASDAQ:MRVL opened at $87.95 on Friday. The company has a 50 day moving average of $76.56 and a 200-day moving average of $69.62. The firm has a market cap of $75.82 billion, a P/E ratio of -676.54, a P/E/G ratio of 1.08 and a beta of 1.94. Marvell Technology, Inc. has a twelve month low of $47.08 and a twelve month high of $127.48. The company has a current ratio of 1.88, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings results on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share for the quarter, hitting analysts' consensus estimates of $0.67. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.01 billion. Marvell Technology had a negative net margin of 1.43% and a positive return on equity of 11.01%. The business's revenue for the quarter was up 57.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 EPS. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. As a group, analysts anticipate that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology announced that its board has approved a stock repurchase plan on Wednesday, September 24th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the semiconductor company to purchase up to 7.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 30th. Investors of record on Friday, October 10th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $0.24 annualized dividend and a yield of 0.3%. Marvell Technology's dividend payout ratio is currently -184.62%.

About Marvell Technology

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.

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. Please send any questions or comments about this story to contact@marketbeat.com.