Ascent Group LLC Sells 15,742 Shares of Marvell Technology, Inc. $MRVL

Key Points

• Ascent Group LLC reduced its holdings in Marvell Technology, Inc. by 51.1% after selling 15,742 shares, leaving it with 15,062 shares valued at approximately $1.166 million.
• Marvell Technology has authorized a $5 billion share buyback program, indicating management's belief that the stock is undervalued.
• Following its recent quarterly earnings report, Marvell Technology confirmed a quarterly dividend of $0.06 per share, to be paid on October 30th.

Ascent Group LLC decreased its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 51.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,062 shares of the semiconductor company's stock after selling 15,742 shares during the quarter. Ascent Group LLC's holdings in Marvell Technology were worth $1,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Nuveen LLC bought a new position in shares of Marvell Technology during the 1st quarter valued at $399,587,000. Goldman Sachs Group Inc. boosted its position in Marvell Technology by 32.3% during the first quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company's stock valued at $1,272,117,000 after buying an additional 5,050,159 shares during the period. Impax Asset Management Group plc grew its stake in shares of Marvell Technology by 748.3% during the first quarter. Impax Asset Management Group plc now owns 3,700,841 shares of the semiconductor company's stock valued at $227,033,000 after buying an additional 3,264,557 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Marvell Technology by 662.9% in the first quarter. AQR Capital Management LLC now owns 3,119,855 shares of the semiconductor company's stock worth $187,566,000 after buying an additional 2,710,894 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Marvell Technology by 8,128.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,460,851 shares of the semiconductor company's stock valued at $151,515,000 after acquiring an additional 2,430,945 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Insider Activity at Marvell Technology

In other news, CFO Willem A. Meintjes acquired 3,400 shares of the firm's stock in a transaction that occurred on Thursday, September 25th. The stock was bought at an average cost of $78.03 per share, for a total transaction of $265,302.00. Following the acquisition, the chief financial officer directly owned 132,159 shares in the company, valued at approximately $10,312,366.77. The trade was a 2.64% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mark Casper sold 3,000 shares of the stock in a transaction on Friday, July 18th. The shares were sold at an average price of $72.35, for a total value of $217,050.00. Following the sale, the executive vice president owned 17,163 shares in the company, valued at approximately $1,241,743.05. This represents a 14.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased 27,200 shares of company stock valued at $2,109,632 over the last ninety days. Corporate insiders own 0.33% of the company's stock.

Marvell Technology Price Performance

MRVL stock opened at $86.22 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.44 and a current ratio of 1.88. The firm has a 50 day moving average price of $74.27 and a 200-day moving average price of $68.13. Marvell Technology, Inc. has a 52-week low of $47.08 and a 52-week high of $127.48. The firm has a market capitalization of $74.33 billion, a price-to-earnings ratio of -663.23, a PEG ratio of 1.06 and a beta of 1.94.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its quarterly earnings data on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share for the quarter, meeting 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 positive return on equity of 11.01% and a negative net margin of 1.43%.The firm's revenue for the quarter was up 57.6% on a year-over-year basis. During the same quarter last year, the company earned $0.30 EPS. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. Equities research analysts forecast that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology declared that its Board of Directors has authorized a share buyback program on Wednesday, September 24th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 7.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 30th. Shareholders of record on Friday, October 10th will be issued 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 payout ratio is -184.62%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MRVL shares. Melius Research raised their price target on Marvell Technology from $67.00 to $76.00 and gave the stock a "hold" rating in a research report on Wednesday, June 18th. B. Riley restated a "buy" rating and issued a $115.00 target price (up previously from $110.00) on shares of Marvell Technology in a report on Wednesday, June 18th. Bank of America reaffirmed a "neutral" rating and issued a $78.00 target price (down from $90.00) on shares of Marvell Technology in a research note on Friday, August 29th. UBS Group cut their price target on shares of Marvell Technology from $110.00 to $95.00 and set a "buy" rating on the stock in a report on Friday, August 29th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $95.00 price objective on shares of Marvell Technology in a research note on Friday, August 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, Marvell Technology has a consensus rating of "Moderate Buy" and a consensus price target of $91.67.

Marvell Technology 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.

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