IMS Capital Management Makes New Investment in Marvell Technology, Inc. $MRVL

Key Points

• IMS Capital Management has acquired a new stake in Marvell Technology, Inc. valued at approximately $591,000 by purchasing 7,640 shares in the second quarter.
• A significant majority, 83.51%, of Marvell's stock is owned by hedge funds and other institutional investors, indicating strong institutional interest.
• Marvell Technology announced a quarterly dividend of $0.06 to be paid on October 30th, with a dividend yield of 0.3%, despite a high dividend payout ratio of -184.62%.

IMS Capital Management acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 7,640 shares of the semiconductor company's stock, valued at approximately $591,000.

Other hedge funds have also modified their holdings of the company. Harbor Capital Advisors Inc. raised its position in Marvell Technology by 0.8% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 19,945 shares of the semiconductor company's stock valued at $1,544,000 after purchasing an additional 151 shares during the last quarter. CHICAGO TRUST Co NA raised its holdings in shares of Marvell Technology by 3.5% in the second quarter. CHICAGO TRUST Co NA now owns 4,703 shares of the semiconductor company's stock valued at $364,000 after buying an additional 158 shares during the last quarter. Synovus Financial Corp grew its holdings in shares of Marvell Technology by 3.5% during the first quarter. Synovus Financial Corp now owns 4,791 shares of the semiconductor company's stock worth $295,000 after buying an additional 161 shares during the last quarter. Moody National Bank Trust Division grew its holdings in shares of Marvell Technology by 1.1% during the second quarter. Moody National Bank Trust Division now owns 16,178 shares of the semiconductor company's stock worth $1,252,000 after buying an additional 182 shares during the last quarter. Finally, Garde Capital Inc. increased its position in Marvell Technology by 29.3% in the 2nd quarter. Garde Capital Inc. now owns 817 shares of the semiconductor company's stock valued at $63,000 after acquiring an additional 185 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Mark Casper sold 3,000 shares of Marvell Technology stock in a transaction dated 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 in the company, valued at $1,241,743.05. The trade was a 14.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on MRVL. TD Cowen increased their price objective on Marvell Technology from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Susquehanna decreased their price target on Marvell Technology from $110.00 to $90.00 and set a "positive" rating for the company in a report on Tuesday, May 27th. Wall Street Zen raised shares of Marvell Technology from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Oppenheimer restated an "outperform" rating and set a $95.00 price objective on shares of Marvell Technology in a research report on Friday, August 29th. Finally, Piper Sandler restated an "overweight" rating and issued a $85.00 target price (down previously from $95.00) on shares of Marvell Technology in a research note on Friday, May 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $90.50.

Marvell Technology Trading Down 1.2%

Shares of Marvell Technology stock opened at $74.62 on Wednesday. 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 business has a 50 day moving average price of $72.55 and a 200 day moving average price of $67.30. The company has a market capitalization of $64.33 billion, a P/E ratio of -574.00, a P/E/G ratio of 0.91 and a beta of 1.85.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its earnings results on Thursday, August 28th. The semiconductor company reported $0.67 EPS for the quarter, meeting analysts' consensus estimates of $0.67. The firm had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $2.01 billion. Marvell Technology had a positive return on equity of 11.01% and a negative net margin of 1.43%.Marvell Technology's quarterly revenue was up 57.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 EPS. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. Sell-side analysts anticipate that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

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

About Marvell Technology

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.

Want to see what other hedge funds are holding MRVL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marvell Technology, Inc. (NASDAQ:MRVL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.