DAVENPORT & Co LLC Raises Position in Marvell Technology, Inc. $MRVL

Key Points

• DAVENPORT & Co LLC increased its stake in Marvell Technology by 10.0% during Q2, holding 309,091 shares valued at approximately $23.9 million.
• Marvell Technology's Board approved a $5 billion stock buyback plan, allowing for the repurchase of up to 7.8% of its shares, indicating confidence in the company's value.
• The company reported Q2 earnings of $0.67 EPS, meeting estimates, and guidance for Q3 2026 predicts 0.690-0.790 EPS.

DAVENPORT & Co LLC lifted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 10.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 309,091 shares of the semiconductor company's stock after acquiring an additional 28,135 shares during the quarter. DAVENPORT & Co LLC's holdings in Marvell Technology were worth $23,916,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hughes Financial Services LLC acquired a new stake in Marvell Technology in the 1st quarter valued at about $26,000. Financial Connections Group Inc. grew its position in shares of Marvell Technology by 776.0% during the first 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. DiNuzzo Private Wealth Inc. increased 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 worth $34,000 after buying an additional 393 shares during the period. Rossby Financial LCC acquired a new stake in Marvell Technology in the first quarter valued at approximately $27,000. Finally, Vision Financial Markets LLC acquired a new stake in Marvell Technology in the first quarter valued at approximately $28,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Wall Street Zen raised shares of Marvell Technology from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Marvell Technology in a report on Saturday, September 27th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $75.00 price objective on shares of Marvell Technology in a report on Friday, August 29th. B. Riley restated a "buy" rating and set a $115.00 target price (up previously from $110.00) on shares of Marvell Technology in a research note on Wednesday, June 18th. Finally, Cowen downgraded Marvell Technology from a "buy" rating to a "hold" rating in a report on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $91.67.

Insider Activity at Marvell Technology

In other Marvell Technology news, insider Sandeep Bharathi acquired 3,400 shares of the company's stock in a transaction that occurred 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 acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Chris Koopmans bought 6,800 shares of the firm's stock in a transaction on Thursday, September 25th. The shares were bought at an average price of $78.03 per share, for a total transaction of $530,604.00. Following the completion of the transaction, the chief operating officer directly owned 104,825 shares in the company, valued at approximately $8,179,494.75. This represents a 6.94% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 27,200 shares of company stock worth $2,109,632 in the last three months. 0.33% of the stock is currently owned by corporate insiders.

Marvell Technology Trading Up 3.1%

NASDAQ:MRVL opened at $88.92 on Tuesday. The stock's 50 day moving average price is $74.53 and its 200 day moving average price is $68.26. The company has a market capitalization of $76.66 billion, a PE ratio of -684.00, a P/E/G ratio of 1.06 and a beta of 1.94. The company has a quick ratio of 1.44, a current ratio of 1.88 and a debt-to-equity ratio of 0.30. 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 released its quarterly earnings results on Thursday, August 28th. The semiconductor company reported $0.67 EPS for the quarter, meeting the consensus estimate of $0.67. Marvell Technology had a negative net margin of 1.43% and a positive return on equity of 11.01%. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. Marvell Technology's revenue for the quarter 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, research analysts anticipate that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Announces Dividend

The firm 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. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, October 10th. Marvell Technology's payout ratio is currently -184.62%.

Marvell Technology announced that its Board of Directors has approved a stock buyback plan on Wednesday, September 24th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 7.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

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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