Fortitude Advisory Group L.L.C. Takes Position in Marvell Technology, Inc. $MRVL

Key Points

• Fortitude Advisory Group has acquired a new stake in Marvell Technology, purchasing 5,928 shares valued at approximately $459,000 during the second quarter.
• Marvell Technology's board has authorized a $5 billion stock repurchase plan, signifying confidence in the undervalued nature of its stock.
• CEO Matthew J. Murphy purchased 13,600 shares of Marvell, increasing his ownership stake by 5.33% and demonstrating insider confidence in the company's prospects.

Fortitude Advisory Group L.L.C. acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,928 shares of the semiconductor company's stock, valued at approximately $459,000.

A number of other large investors have also recently made changes to their positions in the stock. Simplicity Wealth LLC purchased a new stake in shares of Marvell Technology during the second quarter valued at $425,000. Wealthcare Advisory Partners LLC grew its holdings in shares of Marvell Technology by 95.0% during the second quarter. Wealthcare Advisory Partners LLC now owns 10,368 shares of the semiconductor company's stock valued at $802,000 after buying an additional 5,051 shares during the last quarter. Sava Infond d.o.o. grew its holdings in shares of Marvell Technology by 60.0% during the second quarter. Sava Infond d.o.o. now owns 144,000 shares of the semiconductor company's stock valued at $11,146,000 after buying an additional 54,000 shares during the last quarter. LGT Fund Management Co Ltd. purchased a new stake in shares of Marvell Technology during the second quarter valued at $346,000. Finally, QRG Capital Management Inc. boosted its holdings in Marvell Technology by 13.6% in the second quarter. QRG Capital Management Inc. now owns 79,646 shares of the semiconductor company's stock valued at $6,165,000 after purchasing an additional 9,519 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marvell Technology

In other news, CEO Matthew J. Murphy purchased 13,600 shares of the company's stock in a transaction dated Thursday, September 25th. The stock was acquired at an average price of $77.09 per share, with a total value of $1,048,424.00. Following the purchase, the chief executive officer directly owned 268,637 shares in the company, valued at approximately $20,709,226.33. This represents a 5.33% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark Casper sold 3,000 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $72.35, for a total transaction of $217,050.00. Following the completion of the sale, the executive vice president directly owned 17,163 shares of the company's stock, valued at approximately $1,241,743.05. This trade represents a 14.88% decrease in their position. The disclosure for this sale can be found here. Insiders have bought 27,200 shares of company stock worth $2,109,632 in the last 90 days. 0.19% of the stock is owned by insiders.

Marvell Technology Stock Up 0.0%

Shares of NASDAQ MRVL opened at $86.22 on Friday. Marvell Technology, Inc. has a 12-month low of $47.08 and a 12-month high of $127.48. The stock has a market cap of $74.33 billion, a PE ratio of -663.23, a P/E/G ratio of 1.06 and a beta of 1.94. 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 of $74.27 and a 200 day moving average of $68.15.

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

Marvell Technology announced that its board has authorized a stock repurchase plan on Wednesday, September 24th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire up to 7.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is 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 paid a dividend of $0.06 per share. 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 dividend payout ratio is currently -184.62%.

Analyst Ratings Changes

Several equities research analysts have commented on MRVL shares. Needham & Company LLC upped their price target on shares of Marvell Technology from $80.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, September 25th. Wells Fargo & Company lowered their price target on shares of Marvell Technology from $95.00 to $90.00 and set an "overweight" rating on the stock in a report on Friday, August 29th. Cowen lowered shares of Marvell Technology from a "buy" rating to a "hold" rating in a report on Tuesday. UBS Group lowered their price target on shares of Marvell Technology from $110.00 to $95.00 and set a "buy" rating on the stock in a report on Friday, August 29th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Marvell Technology from $80.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, September 25th. 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 stock currently has a consensus rating of "Moderate Buy" and an average price target of $91.67.

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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