Bridges Investment Management Inc. Takes Position in Marvell Technology, Inc. $MRVL

Key Points

• Bridges Investment Management Inc. has acquired a new position in Marvell Technology, purchasing 3,257 shares valued at approximately $252,000.
• Marvell Technology declared a quarterly dividend of $0.06 per share, with an annualized yield of 0.3%, and announced a significant $5.00 billion share buyback plan.
• Analysts have set a consensus price target of $93.06 for Marvell Technology's stock, with multiple rating adjustments, including a reduction from $133.00 to $122.00 by Evercore ISI.

Bridges Investment Management Inc. purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,257 shares of the semiconductor company's stock, valued at approximately $252,000.

Several other large investors have also recently added to or reduced their stakes in MRVL. Game Plan Financial Advisors LLC purchased a new stake in shares of Marvell Technology in the second quarter worth about $27,000. Kiker Wealth Management LLC lifted its position in Marvell Technology by 374.7% during the 2nd quarter. Kiker Wealth Management LLC now owns 356 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 281 shares in the last quarter. Hughes Financial Services LLC purchased a new position in Marvell Technology in the 1st quarter worth approximately $26,000. Financial Connections Group Inc. grew its position in Marvell Technology by 776.0% in 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 in the last quarter. Finally, DiNuzzo Private Wealth Inc. raised its stake in shares of Marvell Technology by 786.0% during the second quarter. DiNuzzo Private Wealth Inc. now owns 443 shares of the semiconductor company's stock valued at $34,000 after purchasing an additional 393 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Evercore ISI reduced their target price on shares of Marvell Technology from $133.00 to $122.00 and set an "outperform" rating on the stock in a research report on Friday, August 29th. Rosenblatt Securities cut their price objective on shares of Marvell Technology from $124.00 to $95.00 and set a "buy" rating on the stock in a report on Friday, August 29th. Benchmark restated a "buy" rating and set a $95.00 target price on shares of Marvell Technology in a research note on Friday, August 29th. Oppenheimer lifted their target price on Marvell Technology from $95.00 to $115.00 and gave the stock an "outperform" rating in a research report on Friday, October 10th. Finally, Barclays reissued an "overweight" rating and issued a $80.00 price target on shares of Marvell Technology in a report on Friday, August 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $93.06.

Marvell Technology Trading Down 0.3%

Shares of NASDAQ MRVL opened at $87.95 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.88 and a debt-to-equity ratio of 0.30. The stock's 50 day moving average price is $76.56 and its two-hundred day moving average price is $69.62. Marvell Technology, Inc. has a 52-week low of $47.08 and a 52-week high of $127.48. The stock has a market capitalization of $75.82 billion, a P/E ratio of -676.54, a PEG ratio of 1.08 and a beta of 1.94.

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, meeting analysts' consensus estimates of $0.67. Marvell Technology had a positive return on equity of 11.01% and a negative net margin of 1.43%.The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the business earned $0.30 EPS. The business's quarterly revenue was up 57.6% on a year-over-year basis. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. On average, analysts anticipate that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 30th. Stockholders of record on Friday, October 10th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, October 10th. Marvell Technology's dividend payout ratio (DPR) is presently -184.62%.

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

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, insider Sandeep Bharathi bought 3,400 shares of the business's stock in a transaction on Thursday, September 25th. The shares were purchased at an average price of $78.03 per share, with a total value of $265,302.00. Following the completion of the acquisition, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew J. Murphy bought 13,600 shares of the firm's stock in a transaction on Thursday, September 25th. The stock was bought at an average price of $77.09 per share, with a total value of $1,048,424.00. Following the completion of the purchase, the chief executive officer owned 268,637 shares of the company's stock, valued at $20,709,226.33. This trade represents a 5.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 27,200 shares of company stock valued at $2,109,632. Corporate insiders own 0.19% of the company's stock.

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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