Equitable Trust Co. Grows Stock Holdings in Marvell Technology, Inc. $MRVL

Key Points

• Equitable Trust Co. significantly increased its holdings in Marvell Technology by 381.9% during the second quarter, owning 55,338 shares valued at approximately $4.28 million.
• Marvell Technology reported a 57.6% year-over-year increase in revenue for the latest quarter, meeting analysts’ expectations with $2.01 billion and earnings per share of $0.67.
• The company recently announced a $5 billion stock repurchase program, indicating that leadership believes its shares may be undervalued.

Equitable Trust Co. grew its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 381.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 55,338 shares of the semiconductor company's stock after purchasing an additional 43,855 shares during the period. Equitable Trust Co.'s holdings in Marvell Technology were worth $4,283,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Taylor Frigon Capital Management LLC lifted its holdings in shares of Marvell Technology by 16.5% during the second quarter. Taylor Frigon Capital Management LLC now owns 33,605 shares of the semiconductor company's stock valued at $2,601,000 after purchasing an additional 4,748 shares during the last quarter. BOCHK Asset Management Ltd bought a new stake in shares of Marvell Technology during the second quarter valued at approximately $1,486,000. Westbourne Investments Inc. increased its position in shares of Marvell Technology by 442.4% during the second 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 bought a new stake in shares of Marvell Technology during the second quarter valued at approximately $1,618,000. Finally, Siren L.L.C. increased its position in shares of Marvell Technology by 636.2% during the first quarter. Siren L.L.C. now owns 36,808 shares of the semiconductor company's stock valued at $2,266,000 after acquiring an additional 31,808 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MRVL. The Goldman Sachs Group began coverage on shares of Marvell Technology in a research report on Thursday, July 10th. They set a "neutral" rating and a $75.00 price target for the company. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $75.00 target price on shares of Marvell Technology in a research report on Friday, August 29th. JPMorgan Chase & Co. cut their target price on shares of Marvell Technology from $130.00 to $120.00 and set an "overweight" rating for the company in a research report on Friday, August 29th. Jefferies Financial Group cut their target price on shares of Marvell Technology from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, August 29th. Finally, Wall Street Zen raised shares of Marvell Technology from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, Marvell Technology has a consensus rating of "Moderate Buy" and an average target price of $92.67.

Insiders Place Their Bets

In other Marvell Technology news, EVP Mark Casper sold 3,000 shares of the business's stock in a transaction 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 sale, the executive vice president owned 17,163 shares in the company, valued at $1,241,743.05. The trade was a 14.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew J. Murphy purchased 13,600 shares of the firm's stock in a transaction on Thursday, September 25th. The stock was bought at an average price of $77.09 per share, for a total transaction of $1,048,424.00. Following the purchase, the chief executive officer owned 268,637 shares in the company, valued at approximately $20,709,226.33. This represents a 5.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 27,200 shares of company stock worth $2,109,632. 0.33% of the stock is owned by corporate insiders.

Marvell Technology Stock Up 4.4%

MRVL opened at $89.39 on Tuesday. 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, Inc. has a fifty-two week low of $47.08 and a fifty-two week high of $127.48. The firm's fifty day moving average is $75.64 and its 200 day moving average is $69.01. The stock has a market cap of $77.06 billion, a price-to-earnings ratio of -687.62, a price-to-earnings-growth ratio of 1.05 and a beta of 1.94.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its earnings results on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share for the quarter, meeting analysts' consensus estimates of $0.67. Marvell Technology had a negative net margin of 1.43% and a positive return on equity of 11.01%. The company had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $2.01 billion. During the same quarter in the previous year, the company 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, sell-side analysts forecast that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 30th. Investors of record on Friday, October 10th will be paid a dividend of $0.06 per share. 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%.

Marvell Technology announced that its Board of Directors has approved a stock repurchase program on Wednesday, September 24th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 7.8% of its stock through open market purchases. Stock repurchase programs are often an indication 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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