Independence Bank of Kentucky Has $445,000 Stock Holdings in Marvell Technology, Inc. $MRVL

Key Points

• Independence Bank of Kentucky increased its stake in Marvell Technology, Inc. by 147.5%, now holding 5,755 shares worth $445,000 as of the latest SEC filing.
• Marvell Technology's quarterly earnings report showed $0.67 EPS and revenue of $2.01 billion, indicating a significant 57.6% year-over-year revenue growth.
• The company has authorized a stock buyback plan allowing up to $5.00 billion in repurchases, signaling management's belief that the stock is undervalued.

Independence Bank of Kentucky lifted its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 147.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,755 shares of the semiconductor company's stock after acquiring an additional 3,430 shares during the quarter. Independence Bank of Kentucky's holdings in Marvell Technology were worth $445,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Westbourne Investments Inc. increased its stake in shares of Marvell Technology by 442.4% in the second quarter. Westbourne Investments Inc. now owns 21,695 shares of the semiconductor company's stock worth $1,679,000 after acquiring an additional 17,695 shares during the last quarter. Family Legacy Financial Solutions LLC acquired a new position in shares of Marvell Technology in the second quarter worth $1,618,000. Siren L.L.C. increased its stake in shares of Marvell Technology by 636.2% in the first quarter. Siren L.L.C. now owns 36,808 shares of the semiconductor company's stock worth $2,266,000 after acquiring an additional 31,808 shares during the last quarter. Burr Financial Services LLC increased its stake in shares of Marvell Technology by 471.4% in the second quarter. Burr Financial Services LLC now owns 37,085 shares of the semiconductor company's stock worth $2,870,000 after acquiring an additional 30,595 shares during the last quarter. Finally, Wesbanco Bank Inc. increased its position in Marvell Technology by 53.8% during the second quarter. Wesbanco Bank Inc. now owns 68,615 shares of the semiconductor company's stock worth $5,311,000 after buying an additional 24,000 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Trading Down 0.9%

Shares of NASDAQ:MRVL opened at $82.39 on Tuesday. The company has a market cap of $71.03 billion, a P/E ratio of -633.77, a P/E/G ratio of 1.02 and a beta of 1.85. The stock's 50-day moving average is $73.33 and its 200-day moving average is $67.70. Marvell Technology, Inc. has a 52-week low of $47.08 and a 52-week high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.44 and a current ratio of 1.88.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings results on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.67. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.01 billion. Marvell Technology had a positive return on equity of 11.01% and a negative net margin of 1.43%.The firm's revenue was up 57.6% compared to the same quarter last year. During the same period last year, the business posted $0.30 earnings per share. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. Equities research analysts predict that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology announced that its board has authorized a stock buyback plan on Wednesday, September 24th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 7.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 30th. Investors of record on Friday, October 10th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, October 10th. Marvell Technology's dividend payout ratio (DPR) is presently -184.62%.

Insiders Place Their Bets

In related news, EVP Mark Casper sold 3,000 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $72.35, for a total value of $217,050.00. Following the completion of the sale, the executive vice president owned 17,163 shares in the company, valued at approximately $1,241,743.05. This trade represents a 14.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes bought 3,400 shares of Marvell Technology stock in a transaction that occurred on Thursday, September 25th. The stock was bought at an average price of $78.03 per share, with a total value of $265,302.00. Following the purchase, the chief financial officer owned 132,159 shares of the company's stock, valued at $10,312,366.77. This trade represents a 2.64% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 27,200 shares of company stock valued at $2,109,632 in the last quarter. 0.33% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on MRVL shares. BNP Paribas raised shares of Marvell Technology to a "strong-buy" rating in a research report on Friday, August 29th. B. Riley reissued a "buy" rating and set a $115.00 target price (up from $110.00) on shares of Marvell Technology in a research report on Wednesday, June 18th. Bank of America reissued a "neutral" rating and set a $78.00 target price (down from $90.00) on shares of Marvell Technology in a research report on Friday, August 29th. Melius Research increased their target price on shares of Marvell Technology from $67.00 to $76.00 and gave the stock a "hold" rating in a research report on Wednesday, June 18th. Finally, Wells Fargo & Company lowered their target price on shares of Marvell Technology from $95.00 to $90.00 and set an "overweight" rating on the stock in a research report on Friday, August 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, Marvell Technology presently has an average rating of "Moderate Buy" and a consensus target price of $91.17.

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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