Fifth Third Wealth Advisors LLC Raises Stock Position in Marvell Technology, Inc. $MRVL

Key Points

• Fifth Third Wealth Advisors LLC increased its stake in Marvell Technology by 41.0% in Q2, owning 54,166 shares valued at approximately $4.19 million.
• Marvell Technology's board approved a $5 billion stock repurchase plan, which aims to buy back up to 7.8% of its shares, reflecting confidence in the company's value.
• The company reported a 57.6% year-over-year revenue growth in its latest quarter, maintaining $2.01 billion in revenue, with earnings per share of $0.67, meeting analysts' expectations.

Fifth Third Wealth Advisors LLC raised its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 41.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,166 shares of the semiconductor company's stock after acquiring an additional 15,740 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in Marvell Technology were worth $4,192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of MRVL. Nuveen LLC bought a new stake in Marvell Technology in the 1st quarter valued at $399,587,000. Goldman Sachs Group Inc. increased its holdings in Marvell Technology by 32.3% in 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 acquiring an additional 5,050,159 shares during the last quarter. Impax Asset Management Group plc increased its holdings 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 valued at $227,033,000 after acquiring an additional 3,264,557 shares during the last quarter. AQR Capital Management LLC increased its holdings 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 valued at $187,566,000 after acquiring an additional 2,710,894 shares during the last quarter. Finally, DnB Asset Management AS increased its holdings in Marvell Technology by 1,167.6% in the 1st quarter. DnB Asset Management AS now owns 2,015,860 shares of the semiconductor company's stock valued at $124,116,000 after acquiring an additional 1,856,833 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO Chris Koopmans acquired 6,800 shares of the stock in a transaction on Thursday, September 25th. The stock was bought at an average cost of $78.03 per share, with a total value of $530,604.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Willem A. Meintjes acquired 3,400 shares of the stock in a transaction on Thursday, September 25th. The stock was bought at an average cost of $78.03 per share, with a total value of $265,302.00. Following the completion of the transaction, the chief financial officer owned 132,159 shares in the company, valued at $10,312,366.77. This trade represents a 2.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 27,200 shares of company stock worth $2,109,632 over the last 90 days. Corporate insiders own 0.19% of the company's stock.

Marvell Technology Price Performance

MRVL stock opened at $85.61 on Friday. Marvell Technology, Inc. has a 12 month low of $47.08 and a 12 month high of $127.48. The company has a current ratio of 1.88, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $75.38 and a 200 day moving average price of $68.77. The stock has a market cap of $73.80 billion, a PE ratio of -658.54, a P/E/G ratio of 1.11 and a beta of 1.94.

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, hitting 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 firm had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $2.01 billion. During the same period in the previous year, the company earned $0.30 EPS. The firm's revenue for the quarter was up 57.6% compared to the same quarter last year. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. Equities research analysts anticipate that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology announced that its board has approved a stock repurchase plan on Wednesday, September 24th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the semiconductor company to buy up to 7.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Marvell Technology Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have commented on MRVL shares. Needham & Company LLC lifted their price objective on shares of Marvell Technology from $80.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, September 25th. JPMorgan Chase & Co. dropped their price objective on shares of Marvell Technology from $130.00 to $120.00 and set an "overweight" rating for the company in a research note on Friday, August 29th. TD Cowen reissued a "hold" rating and issued a $85.00 price objective (down from $90.00) on shares of Marvell Technology in a research note on Wednesday, October 1st. Zacks Research raised shares of Marvell Technology from a "strong sell" rating to a "hold" rating in a research note on Wednesday, September 24th. Finally, Barclays reissued an "overweight" rating and issued a $80.00 price objective on shares of Marvell Technology in a research note on Friday, August 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $92.33.

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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