Castle Rock Wealth Management LLC Cuts Position in Marvell Technology, Inc. $MRVL

Key Points

• Castle Rock Wealth Management LLC significantly reduced its stake in Marvell Technology by 82.4% during the second quarter, now holding only 5,022 shares valued at $369,000.
• Marvell Technology has initiated a $5 billion share buyback program, indicating that the board believes the stock is undervalued.
• The company recently declared a quarterly dividend of $0.06 per share, with the ex-dividend date set for October 10th, despite a negative dividend payout ratio of -184.62%.

Castle Rock Wealth Management LLC lowered its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 82.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,022 shares of the semiconductor company's stock after selling 23,475 shares during the quarter. Castle Rock Wealth Management LLC's holdings in Marvell Technology were worth $369,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Taylor Frigon Capital Management LLC grew its holdings in shares of Marvell Technology by 16.5% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 33,605 shares of the semiconductor company's stock worth $2,601,000 after purchasing an additional 4,748 shares during the period. BOCHK Asset Management Ltd acquired a new stake in shares of Marvell Technology during the 2nd quarter valued at approximately $1,486,000. Westbourne Investments Inc. raised its position in shares of Marvell Technology by 442.4% during the 2nd quarter. Westbourne Investments Inc. now owns 21,695 shares of the semiconductor company's stock valued at $1,679,000 after acquiring an additional 17,695 shares in the last quarter. Family Legacy Financial Solutions LLC acquired a new stake in Marvell Technology in the second quarter worth $1,618,000. Finally, Siren L.L.C. increased its position in Marvell Technology by 636.2% in the first quarter. Siren L.L.C. now owns 36,808 shares of the semiconductor company's stock worth $2,266,000 after buying an additional 31,808 shares during the period. Institutional investors and hedge funds own 83.51% of the company's stock.

Insider Activity at Marvell Technology

In related news, COO Chris Koopmans purchased 6,800 shares of Marvell Technology stock in a transaction that occurred on Thursday, September 25th. The stock was purchased at an average cost of $78.03 per share, with a total value of $530,604.00. Following the completion of the transaction, the chief operating officer owned 104,825 shares of the company's stock, valued at approximately $8,179,494.75. This trade represents a 6.94% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Casper sold 3,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 17,163 shares of the company's stock, valued at approximately $1,241,743.05. The trade was a 14.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders acquired 27,200 shares of company stock valued at $2,109,632 over the last ninety days. Company insiders own 0.19% of the company's stock.

Marvell Technology Price Performance

Marvell Technology stock opened at $92.50 on Thursday. 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 market cap of $79.74 billion, a P/E ratio of -711.54, a P/E/G ratio of 1.06 and a beta of 1.94. The business's fifty day moving average is $74.95 and its two-hundred day moving average is $68.55. Marvell Technology, Inc. has a 52 week low of $47.08 and a 52 week high of $127.48.

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 (EPS) for the quarter, meeting the consensus estimate of $0.67. The business had revenue of $2.01 billion for 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 earnings per share. 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 earnings per share for the current fiscal year.

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

Marvell Technology Announces Dividend

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

Wall Street Analysts Forecast Growth

MRVL has been the topic of a number of research analyst reports. Benchmark reissued a "buy" rating and set a $95.00 price target on shares of Marvell Technology in a report on Friday, August 29th. Wall Street Zen upgraded Marvell Technology from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $75.00 price target on shares of Marvell Technology in a research report on Friday, August 29th. Melius Research raised their price objective on Marvell Technology from $67.00 to $76.00 and gave the stock a "hold" rating in a research report on Wednesday, June 18th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Marvell Technology in a report on Wednesday. Two equities research 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 stock. According to MarketBeat, the company presently 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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