Costello Asset Management INC Increases Position in Marvell Technology, Inc. $MRVL

Key Points

• Costello Asset Management INC increased its stake in Marvell Technology by 31,756.0%, owning 63,712 shares worth approximately $4.93 million, making it the firm's 13th largest holding.
• The company reported an EPS of $0.67 for the last quarter, meeting analysts' estimates, and showed a significant 57.6% year-over-year revenue increase.
• Marvell Technology has approved a $5 billion share buyback program, which signifies the company's belief that its shares are undervalued.

Costello Asset Management INC boosted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 31,756.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,712 shares of the semiconductor company's stock after buying an additional 63,512 shares during the period. Marvell Technology accounts for about 1.9% of Costello Asset Management INC's portfolio, making the stock its 13th largest holding. Costello Asset Management INC's holdings in Marvell Technology were worth $4,931,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Hughes Financial Services LLC purchased a new stake in Marvell Technology during the 1st quarter worth approximately $26,000. Rossby Financial LCC purchased a new stake in Marvell Technology during the 1st quarter worth approximately $27,000. Financial Connections Group Inc. increased its stake in Marvell Technology by 776.0% during the 1st quarter. Financial Connections Group Inc. now owns 438 shares of the semiconductor company's stock worth $27,000 after buying an additional 388 shares in the last quarter. Game Plan Financial Advisors LLC purchased a new stake in Marvell Technology during the 2nd quarter worth approximately $27,000. Finally, Vision Financial Markets LLC purchased a new stake in Marvell Technology during the 1st quarter worth approximately $28,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Trading Down 2.0%

MRVL opened at $90.68 on Friday. Marvell Technology, Inc. has a one year low of $47.08 and a one year high of $127.48. The stock has a market capitalization of $78.18 billion, a PE ratio of -697.54, a P/E/G ratio of 1.13 and a beta of 1.94. The business's 50 day moving average price is $75.16 and its 200 day moving average price is $68.68. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.44 and a current ratio of 1.88.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its quarterly earnings data on Thursday, August 28th. The semiconductor company reported $0.67 EPS 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 firm had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $2.01 billion. During the same period in the prior year, the firm posted $0.30 earnings per share. The firm'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. As a group, equities research analysts expect that Marvell Technology, Inc. will post 0.91 EPS for the current year.

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

Marvell Technology Dividend Announcement

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

Insider Activity at Marvell Technology

In other news, insider Sandeep Bharathi purchased 3,400 shares of the firm's stock in a transaction on Thursday, September 25th. The shares were bought at an average cost of $78.03 per share, for a total transaction of $265,302.00. Following the completion of the purchase, the insider directly owned 73,392 shares of the company's stock, valued at approximately $5,726,777.76. This trade represents 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 at this link. Also, COO Chris Koopmans purchased 6,800 shares of the firm's stock in a transaction on Thursday, September 25th. The shares were purchased at an average price of $78.03 per share, for a total transaction of $530,604.00. Following the completion of the purchase, the chief operating officer directly owned 104,825 shares of the company's stock, valued at $8,179,494.75. This represents a 6.94% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 27,200 shares of company stock valued at $2,109,632 over the last ninety days. 0.19% of the stock is owned by insiders.

Analysts Set New Price Targets

MRVL has been the subject of several research reports. Cantor Fitzgerald reiterated a "neutral" rating and set a $75.00 price objective on shares of Marvell Technology in a research note on Friday, August 29th. Rosenblatt Securities dropped their price target on Marvell Technology from $124.00 to $95.00 and set a "buy" rating for the company in a research report on Friday, August 29th. Melius Research upped their price target on Marvell Technology from $67.00 to $76.00 and gave the company a "hold" rating in a research report on Wednesday, June 18th. Bank of America restated a "neutral" rating and issued a $78.00 price target (down from $90.00) on shares of Marvell Technology in a research report on Friday, August 29th. Finally, The Goldman Sachs Group assumed coverage on Marvell Technology in a research report on Thursday, July 10th. They issued a "neutral" rating and a $75.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $91.67.

About Marvell Technology

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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