Hazlett Burt & Watson Inc. Boosts Position in Marvell Technology, Inc. $MRVL

Key Points

• Hazlett Burt & Watson Inc. increased its holdings in Marvell Technology by 235.2% during the 2nd quarter, acquiring over 4,900 additional shares valued at approximately $546,000.
• Marvell Technology's board approved a $5 billion share repurchase plan to buy back up to 7.8% of its outstanding shares, indicating confidence in its stock valuation.
• Marvell's latest quarterly earnings showed a 57.6% year-over-year revenue growth, with earnings per share meeting analysts' expectations at $0.67.

Hazlett Burt & Watson Inc. grew its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 235.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,030 shares of the semiconductor company's stock after buying an additional 4,933 shares during the period. Hazlett Burt & Watson Inc.'s holdings in Marvell Technology were worth $546,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Game Plan Financial Advisors LLC purchased a new position in shares of Marvell Technology during the second quarter valued at approximately $27,000. Hughes Financial Services LLC purchased a new position in shares of Marvell Technology during the first quarter valued at approximately $26,000. Financial Connections Group Inc. increased its stake in shares of Marvell Technology by 776.0% during the first quarter. Financial Connections Group Inc. now owns 438 shares of the semiconductor company's stock valued at $27,000 after buying an additional 388 shares during the period. DiNuzzo Private Wealth Inc. increased its stake in shares of Marvell Technology by 786.0% during the second quarter. DiNuzzo Private Wealth Inc. now owns 443 shares of the semiconductor company's stock valued at $34,000 after buying an additional 393 shares during the period. Finally, Rossby Financial LCC purchased a new position in shares of Marvell Technology during the first quarter valued at approximately $27,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Marvell Technology news, COO Chris Koopmans purchased 6,800 shares of the stock in a transaction dated Thursday, September 25th. The shares were purchased at an average cost of $78.03 per share, with a total value of $530,604.00. Following the completion of the acquisition, the chief operating officer directly owned 104,825 shares in the company, valued at $8,179,494.75. This trade represents a 6.94% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark Casper sold 3,000 shares of the company'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 transaction, the executive vice president directly owned 17,163 shares in the company, valued at approximately $1,241,743.05. The trade was a 14.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 27,200 shares of company stock valued at $2,109,632. Corporate insiders own 0.19% of the company's stock.

Marvell Technology Trading Down 5.6%

NASDAQ MRVL opened at $85.61 on Monday. 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 $73.80 billion, a P/E ratio of -658.54, a P/E/G ratio of 1.05 and a beta of 1.94. The stock's fifty day moving average price is $75.38 and its 200-day moving average price is $68.82. The company has a current ratio of 1.88, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its 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 positive return on equity of 11.01% and a negative net margin of 1.43%.The firm had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $2.01 billion. During the same period in the prior year, the firm posted $0.30 earnings per share. The company's quarterly revenue was up 57.6% on a year-over-year basis. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. As a group, equities analysts forecast that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology declared that its board has authorized a share repurchase plan on Wednesday, September 24th that permits the company to repurchase $5.00 billion in outstanding 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 typically an indication that the company's board believes its shares are undervalued.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 30th. Stockholders of record on Friday, October 10th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend 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 brokerages recently weighed in on MRVL. Wells Fargo & Company reduced their price target on Marvell Technology from $95.00 to $90.00 and set an "overweight" rating on the stock in a research note on Friday, August 29th. Jefferies Financial Group reduced their price target on Marvell Technology from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Friday, August 29th. Evercore ISI reduced their price target 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. Cowen cut Marvell Technology from a "buy" rating to a "hold" rating in a research note on Tuesday, September 30th. Finally, Bank of America reaffirmed a "neutral" rating and issued a $78.00 price target (down from $90.00) on shares of Marvell Technology in a research note on Friday, August 29th. Two equities research 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 company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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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