Institute for Wealth Management LLC. increased its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 18.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,502 shares of the semiconductor company's stock after acquiring an additional 3,542 shares during the period. Institute for Wealth Management LLC.'s holdings in Marvell Technology were worth $1,742,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of MRVL. GAMMA Investing LLC grew its holdings in shares of Marvell Technology by 6,001.6% in the first quarter. GAMMA Investing LLC now owns 501,796 shares of the semiconductor company's stock worth $30,896,000 after acquiring an additional 493,572 shares during the period. NBC Securities Inc. grew its holdings in shares of Marvell Technology by 94,750.0% in the first quarter. NBC Securities Inc. now owns 1,897 shares of the semiconductor company's stock worth $116,000 after acquiring an additional 1,895 shares during the period. Harbor Investment Advisory LLC grew its holdings in shares of Marvell Technology by 77.9% in the first quarter. Harbor Investment Advisory LLC now owns 717 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 314 shares during the period. Merit Financial Group LLC grew its holdings in shares of Marvell Technology by 144.8% in the first quarter. Merit Financial Group LLC now owns 23,093 shares of the semiconductor company's stock worth $1,422,000 after acquiring an additional 13,661 shares during the period. Finally, RFG Advisory LLC grew its holdings in shares of Marvell Technology by 4.2% in the first quarter. RFG Advisory LLC now owns 44,416 shares of the semiconductor company's stock worth $2,735,000 after acquiring an additional 1,795 shares during the period. Institutional investors own 83.51% of the company's stock.
Marvell Technology Price Performance
Shares of Marvell Technology stock opened at $84.08 on Wednesday. The stock's 50-day simple moving average is $73.57 and its 200-day simple moving average is $67.81. Marvell Technology, Inc. has a 52 week low of $47.08 and a 52 week high of $127.48. The company has a market capitalization of $72.48 billion, a price-to-earnings ratio of -646.75, a PEG ratio of 1.01 and a beta of 1.85. The company has a quick ratio of 1.44, a current ratio of 1.88 and a debt-to-equity ratio of 0.30.
Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its quarterly earnings data on Thursday, August 28th. The semiconductor company reported $0.67 EPS for the quarter, meeting the consensus estimate of $0.67. Marvell Technology had a positive return on equity of 11.01% and a negative net margin of 1.43%.The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the business earned $0.30 earnings per share. The business's 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, analysts expect that Marvell Technology, Inc. will post 0.91 earnings per share 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. Investors of record on Friday, October 10th will be given 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 is Friday, October 10th. Marvell Technology's payout ratio is currently -184.62%.
Marvell Technology announced that its board has approved a share repurchase program on Wednesday, September 24th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.
Analyst Upgrades and Downgrades
Several analysts recently commented on the company. JPMorgan Chase & Co. cut their price objective on Marvell Technology from $130.00 to $120.00 and set an "overweight" rating for the company in a report on Friday, August 29th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $75.00 price objective on shares of Marvell Technology in a report on Friday, August 29th. Jefferies Financial Group cut their price target on Marvell Technology from $90.00 to $80.00 and set a "buy" rating for the company in a report on Friday, August 29th. Morgan Stanley cut their price target on Marvell Technology from $80.00 to $76.00 and set an "equal weight" rating for the company in a report on Friday, August 29th. Finally, China Renaissance assumed coverage on Marvell Technology in a report on Thursday, June 5th. They set a "buy" rating and a $110.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Marvell Technology presently has an average rating of "Moderate Buy" and a consensus price target of $91.17.
Check Out Our Latest Analysis on MRVL
Insider Buying and Selling
In other news, COO Chris Koopmans bought 6,800 shares of the firm's stock in a transaction that occurred on Thursday, September 25th. The shares were bought at an average cost of $78.03 per share, for a total transaction of $530,604.00. Following the completion of the transaction, the chief operating officer owned 104,825 shares of the company's stock, valued at approximately $8,179,494.75. This represents a 6.94% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Willem A. Meintjes bought 3,400 shares of the firm's stock in a transaction that occurred on Thursday, September 25th. The stock was purchased at an average price of $78.03 per share, for a total transaction of $265,302.00. Following the completion of the transaction, the chief financial officer directly owned 132,159 shares of the company's stock, valued at $10,312,366.77. This represents a 2.64% increase in their position. The disclosure for this purchase can be found here. Insiders bought 27,200 shares of company stock valued at $2,109,632 in the last ninety days. Company insiders own 0.33% of the company's stock.
About Marvell Technology
(
Free Report)
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.
Further Reading
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