Hardman Johnston Global Advisors LLC Reduces Stock Holdings in Marvell Technology, Inc. $MRVL

Key Points

• Hardman Johnston Global Advisors LLC has significantly reduced its stake in Marvell Technology by 72.6%, selling 248,300 shares and retaining 93,760 shares valued at approximately $7.26 million.
• The company's Board of Directors approved a stock buyback plan of up to $5.00 billion, indicating confidence in the stock's undervaluation.
• Recent insider transactions include CFO Willem A. Meintjes and COO Chris Koopmans purchasing shares, showcasing their belief in the company's future performance.

Hardman Johnston Global Advisors LLC decreased its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 72.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 93,760 shares of the semiconductor company's stock after selling 248,300 shares during the quarter. Hardman Johnston Global Advisors LLC's holdings in Marvell Technology were worth $7,257,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Hughes Financial Services LLC bought a new stake in Marvell Technology in the first quarter worth $26,000. Financial Connections Group Inc. raised its stake in shares of Marvell Technology by 776.0% in the first quarter. Financial Connections Group Inc. now owns 438 shares of the semiconductor company's stock valued at $27,000 after acquiring an additional 388 shares during the period. DiNuzzo Private Wealth Inc. raised its stake in shares of Marvell Technology by 786.0% in the second quarter. DiNuzzo Private Wealth Inc. now owns 443 shares of the semiconductor company's stock valued at $34,000 after acquiring an additional 393 shares during the period. Rossby Financial LCC bought a new position in Marvell Technology during the 1st quarter valued at about $27,000. Finally, Vision Financial Markets LLC bought a new position in Marvell Technology during the 1st quarter valued at about $28,000. 83.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Willem A. Meintjes bought 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, for a total transaction of $265,302.00. Following the completion of the purchase, the chief financial officer directly owned 132,159 shares in the company, valued at approximately $10,312,366.77. The trade was a 2.64% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Chris Koopmans bought 6,800 shares of the stock in a transaction on Thursday, September 25th. The stock was purchased at an average price of $78.03 per share, with a total value of $530,604.00. Following the completion of the purchase, the chief operating officer owned 104,825 shares of the company's stock, valued at $8,179,494.75. This represents a 6.94% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 27,200 shares of company stock valued at $2,109,632 in the last three months. 0.19% of the stock is currently owned by insiders.

Marvell Technology Stock Up 2.8%

NASDAQ:MRVL opened at $86.20 on Friday. Marvell Technology, Inc. has a 1-year low of $47.08 and a 1-year high of $127.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.88 and a quick ratio of 1.44. The firm has a market cap of $74.31 billion, a PE ratio of -663.08, a price-to-earnings-growth ratio of 1.03 and a beta of 1.94. The company has a 50-day moving average of $74.03 and a 200 day moving average of $68.03.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its quarterly earnings results on Thursday, August 28th. The semiconductor company reported $0.67 EPS for the quarter, meeting the consensus estimate 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 negative net margin of 1.43% and a positive return on equity of 11.01%. 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 business posted $0.30 EPS. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. As a group, research analysts anticipate that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

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

Marvell Technology Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, October 10th. Marvell Technology's dividend payout ratio is -184.62%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MRVL. Morgan Stanley dropped their target price on Marvell Technology from $80.00 to $76.00 and set an "equal weight" rating for the company in a research report on Friday, August 29th. Jefferies Financial Group decreased their price target on Marvell Technology from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, August 29th. Evercore ISI decreased their price target on Marvell Technology from $133.00 to $122.00 and set an "outperform" rating for the company in a research note on Friday, August 29th. Melius Research increased their target price on Marvell Technology from $67.00 to $76.00 and gave the stock a "hold" rating in a research note on Wednesday, June 18th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $75.00 price target on shares of Marvell Technology in a report on Friday, August 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, Marvell Technology currently has a consensus rating of "Moderate Buy" and a consensus target price 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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