Deltec Asset Management LLC Sells 5,354 Shares of Marvell Technology, Inc. $MRVL

Key Points

• Deltec Asset Management LLC reduced its stake in Marvell Technology by 5.6%, selling 5,354 shares and holding a total of 90,185 shares, which now represent about 1.2% of its investment portfolio.
• Marvell Technology's Board of Directors approved a $5 billion stock buyback program, indicating that they believe the shares are undervalued, allowing for the purchase of up to 7.8% of its stock.
• Recent analyst ratings show a consensus of Moderate Buy for Marvell, with price targets ranging from $80.00 to $95.00, reflecting varied sentiment among equity research analysts.

Deltec Asset Management LLC decreased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 5.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 90,185 shares of the semiconductor company's stock after selling 5,354 shares during the period. Marvell Technology makes up approximately 1.2% of Deltec Asset Management LLC's investment portfolio, making the stock its 17th largest holding. Deltec Asset Management LLC's holdings in Marvell Technology were worth $6,980,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MRVL. Nuveen LLC purchased a new stake in shares of Marvell Technology during the first quarter worth about $399,587,000. Goldman Sachs Group Inc. grew its stake in shares of Marvell Technology by 32.3% during the first quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company's stock worth $1,272,117,000 after acquiring an additional 5,050,159 shares during the last quarter. Impax Asset Management Group plc grew its stake in shares of Marvell Technology by 748.3% during the first 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 during the last quarter. AQR Capital Management LLC grew its stake in shares of Marvell Technology by 662.9% during the first 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 during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake 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 last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes acquired 3,400 shares of the business's stock in a transaction dated Thursday, September 25th. The stock was acquired at an average cost of $78.03 per share, for a total transaction of $265,302.00. Following the completion of the transaction, the chief financial officer directly owned 132,159 shares of the company's stock, valued at $10,312,366.77. This represents a 2.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Casper sold 3,000 shares of the business'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 owned 17,163 shares of the company's stock, valued at $1,241,743.05. This trade represents a 14.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders bought 27,200 shares of company stock valued at $2,109,632. 0.33% of the stock is owned by insiders.

Marvell Technology Trading Up 2.0%

Shares of NASDAQ:MRVL opened at $84.08 on Wednesday. Marvell Technology, Inc. has a 12-month low of $47.08 and a 12-month high of $127.48. The company has a market capitalization of $72.48 billion, a PE ratio of -646.75, a PEG ratio of 1.01 and a beta of 1.85. The business has a 50 day moving average of $73.57 and a two-hundred day moving average of $67.81. The company has a current ratio of 1.88, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its quarterly earnings results on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.67. The company 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%.Marvell Technology's revenue for the quarter was up 57.6% on a year-over-year basis. During the same period 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, analysts forecast that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology announced that its Board of Directors has approved a stock buyback program on Wednesday, September 24th that permits the company to buyback $5.00 billion in 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 typically a sign that the company's board 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. Stockholders of record on Friday, October 10th will be given a $0.06 dividend. The ex-dividend date is Friday, October 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. Marvell Technology's payout ratio is -184.62%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MRVL shares. Deutsche Bank Aktiengesellschaft boosted their price target on Marvell Technology from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, September 25th. Benchmark reaffirmed a "buy" rating and set a $95.00 target price on shares of Marvell Technology in a report on Friday, August 29th. Wells Fargo & Company decreased their target price on Marvell Technology from $95.00 to $90.00 and set an "overweight" rating for the company in a report on Friday, August 29th. Rosenblatt Securities decreased their target price on Marvell Technology from $124.00 to $95.00 and set a "buy" rating for the company in a report on Friday, August 29th. Finally, Jefferies Financial Group decreased their target price on Marvell Technology from $90.00 to $80.00 and set a "buy" rating for the company in a report on Friday, August 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.17.

Marvell Technology Company 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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