Accurate Wealth Management LLC Makes New $305,000 Investment in Marvell Technology, Inc. $MRVL

Key Points

• Accurate Wealth Management LLC has made a new investment of $305,000 in Marvell Technology, acquiring 4,154 shares during the second quarter.
• Insider purchases have been reported, including CFO Willem A. Meintjes and another insider each acquiring 3,400 shares at an average price of $78.03, indicating confidence in the company's future.
• Marvell Technology announced a quarterly dividend of $0.06 per share, alongside a stock buyback plan allowing the company to repurchase up to $5 billion in shares, reflecting a strategy to enhance shareholder value.

Accurate Wealth Management LLC bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,154 shares of the semiconductor company's stock, valued at approximately $305,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MRVL. Nuveen LLC acquired a new position in shares of Marvell Technology during the 1st quarter worth approximately $399,587,000. Goldman Sachs Group Inc. boosted its position in shares of Marvell Technology by 32.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company's stock worth $1,272,117,000 after acquiring an additional 5,050,159 shares in the last quarter. Impax Asset Management Group plc boosted its position in shares of Marvell Technology by 748.3% during the 1st quarter. Impax Asset Management Group plc now owns 3,700,841 shares of the semiconductor company's stock worth $227,033,000 after acquiring an additional 3,264,557 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Marvell Technology by 662.9% during the 1st quarter. AQR Capital Management LLC now owns 3,119,855 shares of the semiconductor company's stock worth $187,566,000 after acquiring an additional 2,710,894 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Marvell Technology by 8,128.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,460,851 shares of the semiconductor company's stock worth $151,515,000 after acquiring an additional 2,430,945 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

Wall Street Analysts Forecast Growth

MRVL has been the topic of several analyst reports. Loop Capital reduced their price target on shares of Marvell Technology from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Needham & Company LLC increased their price target on shares of Marvell Technology from $80.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday. KeyCorp reduced their price target on shares of Marvell Technology from $115.00 to $90.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Oppenheimer reiterated an "outperform" rating and set a $95.00 price target on shares of Marvell Technology in a research report on Friday, August 29th. Finally, Bank of America reiterated a "neutral" rating and set a $78.00 price target (down previously from $90.00) on shares of Marvell Technology in a research report on Friday, August 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $91.17.

Insider Activity

In other Marvell Technology news, CFO Willem A. Meintjes purchased 3,400 shares of the company's stock in a transaction dated Thursday, September 25th. The stock was purchased at an average price of $78.03 per share, with a total value of $265,302.00. Following the completion of the purchase, the chief financial officer owned 132,159 shares of the company's stock, valued at approximately $10,312,366.77. The trade was a 2.64% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Sandeep Bharathi purchased 3,400 shares of the company's stock in a transaction dated 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 purchase, the insider directly 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 position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 27,200 shares of company stock valued at $2,109,632. 0.19% of the stock is currently owned by company insiders.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $83.81 on Friday. The company has a market cap of $72.25 billion, a price-to-earnings ratio of -644.69, a PEG ratio of 0.97 and a beta of 1.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.88 and a quick ratio of 1.44. The firm has a 50 day simple moving average of $72.97 and a 200 day simple moving average of $67.52. Marvell Technology, Inc. has a one year low of $47.08 and a one year high of $127.48.

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

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 30th. Investors of record on Friday, October 10th will be paid a $0.06 dividend. 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 presently -184.62%.

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

Marvell Technology Company Profile

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.

Want to see what other hedge funds are holding MRVL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marvell Technology, Inc. (NASDAQ:MRVL - Free Report).

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.