Fulton Breakefield Broenniman LLC Sells 4,321 Shares of Marvell Technology, Inc. $MRVL

Key Points

• Fulton Breakefield Broenniman LLC reduced its stake in Marvell Technology by 43.6%, selling 4,321 shares during the second quarter, leaving it with 5,583 shares valued at $432,000.
• A significant number of institutional investors, including Nuveen LLC and Goldman Sachs Group Inc., have increased their holdings in Marvell Technology, indicating strong interest in the company's stock.
• Marvell Technology announced a $5 billion stock buyback program on September 24th, indicating that the board believes the shares are undervalued.

Fulton Breakefield Broenniman LLC reduced its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 43.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 5,583 shares of the semiconductor company's stock after selling 4,321 shares during the quarter. Fulton Breakefield Broenniman LLC's holdings in Marvell Technology were worth $432,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in MRVL. Nuveen LLC bought a new position in Marvell Technology during the first quarter valued at about $399,587,000. Goldman Sachs Group Inc. grew its position in 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 valued at $1,272,117,000 after buying an additional 5,050,159 shares during the period. Impax Asset Management Group plc grew its position in 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 valued at $227,033,000 after buying an additional 3,264,557 shares during the period. AQR Capital Management LLC grew its position in 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 valued at $187,566,000 after buying an additional 2,710,894 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in Marvell Technology by 8,128.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,460,851 shares of the semiconductor company's stock valued at $151,515,000 after acquiring an additional 2,430,945 shares during the period. Institutional investors own 83.51% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MRVL shares. BNP Paribas upgraded Marvell Technology to a "strong-buy" rating in a research note on Friday, August 29th. Evercore ISI lowered their price objective on Marvell Technology from $133.00 to $122.00 and set an "outperform" rating on the stock in a research note on Friday, August 29th. Rosenblatt Securities lowered their price objective on Marvell Technology from $124.00 to $95.00 and set a "buy" rating on the stock in a research note on Friday, August 29th. Weiss Ratings restated a "hold (c-)" rating on shares of Marvell Technology in a research note on Wednesday. Finally, Cowen cut Marvell Technology from a "buy" rating to a "hold" rating in a research note on Tuesday, September 30th. Two equities research 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $91.67.

Marvell Technology Stock Up 6.4%

MRVL stock opened at $92.50 on Thursday. The company has a quick ratio of 1.44, a current ratio of 1.88 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $79.74 billion, a PE ratio of -711.54, a PEG ratio of 1.06 and a beta of 1.94. Marvell Technology, Inc. has a twelve month low of $47.08 and a twelve month high of $127.48. The stock has a 50-day simple moving average of $74.95 and a two-hundred day simple moving average of $68.55.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted 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. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.01 billion. Marvell Technology had a positive return on equity of 11.01% and a negative net margin of 1.43%.The company's quarterly revenue was up 57.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 EPS. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. On average, equities analysts predict that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

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 issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. Marvell Technology's payout ratio is presently -184.62%.

Marvell Technology announced that its Board of Directors has initiated a stock buyback program on Wednesday, September 24th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 7.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at Marvell Technology

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

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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