Congress Asset Management Co. Takes Position in Marvell Technology, Inc. $MRVL

Key Points

• Congress Asset Management Co. acquired a new stake in Marvell Technology, purchasing 15,325 shares valued at approximately $1,186,000 during the second quarter.
• A number of institutions, including Nuveen LLC and Goldman Sachs Group Inc., have significantly increased their holdings in Marvell Technology, indicating strong institutional interest with 83.51% of the company's stock now owned by institutional investors.
• Marvell Technology declared a $5.00 billion share buyback program and will pay a quarterly dividend of $0.06, showcasing their strategy to return value to shareholders despite a negative payout ratio.

Congress Asset Management Co. purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 15,325 shares of the semiconductor company's stock, valued at approximately $1,186,000.

Other hedge funds have also recently made changes to their positions in the company. Nuveen LLC purchased a new stake in shares of Marvell Technology during the first quarter valued at $399,587,000. Goldman Sachs Group Inc. lifted its holdings in 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 valued at $1,272,117,000 after buying an additional 5,050,159 shares in the last quarter. Impax Asset Management Group plc grew its stake in Marvell Technology by 748.3% in 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 grew its stake in Marvell Technology by 662.9% in 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. increased its position in shares of Marvell Technology by 8,128.6% during the first 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 during the period. Institutional investors own 83.51% of the company's stock.

Insider Buying and Selling at Marvell Technology

In related news, insider Sandeep Bharathi purchased 3,400 shares of the business's stock in a transaction that occurred on Thursday, September 25th. The stock was bought at an average price of $78.03 per share, with a total value of $265,302.00. Following the acquisition, the insider owned 73,392 shares in the company, valued at $5,726,777.76. The trade was a 4.86% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Casper sold 3,000 shares of the business's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $72.35, for a total transaction of $217,050.00. Following the sale, the executive vice president directly owned 17,163 shares of the company's stock, valued at $1,241,743.05. This represents a 14.88% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 27,200 shares of company stock worth $2,109,632. 0.19% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MRVL shares. Benchmark reissued a "buy" rating and set a $95.00 price target on shares of Marvell Technology in a research report on Friday, August 29th. Barclays reiterated an "overweight" rating and set a $80.00 target price on shares of Marvell Technology in a report on Friday, August 29th. Needham & Company LLC boosted their price target on shares of Marvell Technology from $80.00 to $95.00 and gave the company a "buy" rating in a report on Thursday. UBS Group lowered their price target on shares of Marvell Technology from $110.00 to $95.00 and set a "buy" rating for the company in a research report on Friday, August 29th. Finally, BNP Paribas raised shares of Marvell Technology to a "strong-buy" rating in a report on Friday, August 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.17.

Marvell Technology Price Performance

NASDAQ MRVL opened at $83.17 on Friday. The company has a market cap of $71.70 billion, a price-to-earnings ratio of -639.77, a PEG ratio of 1.01 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 stock's fifty day moving average price is $73.14 and its 200 day moving average price is $67.61. Marvell Technology, Inc. has a 1 year low of $47.08 and a 1 year high of $127.48.

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

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

Marvell Technology Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.3%. Marvell Technology's payout ratio is presently -184.62%.

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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