Marvell Technology, Inc. $MRVL Shares Acquired by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its stake in Marvell Technology, Inc. by 11.6%, owning 461,939 shares valued at approximately $35.75 million.
• Marginal ownership shifts occurred among other institutional investors, with 83.51% of the company now owned by such entities.
• Marvell Technology announced a $5 billion share repurchase plan and a quarterly dividend of $0.06, reflecting confidence in its stock value amidst market fluctuations.

KLP Kapitalforvaltning AS grew its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 11.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 461,939 shares of the semiconductor company's stock after acquiring an additional 47,900 shares during the period. KLP Kapitalforvaltning AS owned about 0.05% of Marvell Technology worth $35,754,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Harbor Capital Advisors Inc. grew its stake in shares of Marvell Technology by 0.8% in the second quarter. Harbor Capital Advisors Inc. now owns 19,945 shares of the semiconductor company's stock worth $1,544,000 after acquiring an additional 151 shares in the last quarter. CHICAGO TRUST Co NA grew its stake 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 worth $364,000 after acquiring an additional 158 shares in the last quarter. Synovus Financial Corp grew its stake in shares of Marvell Technology by 3.5% in the first quarter. Synovus Financial Corp now owns 4,791 shares of the semiconductor company's stock worth $295,000 after acquiring an additional 161 shares in the last quarter. PFG Investments LLC grew its stake in shares of Marvell Technology by 2.6% during the second quarter. PFG Investments LLC now owns 6,757 shares of the semiconductor company's stock worth $523,000 after purchasing an additional 174 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its stake in shares of Marvell Technology by 1.6% during the second quarter. V Square Quantitative Management LLC now owns 11,032 shares of the semiconductor company's stock worth $854,000 after purchasing an additional 177 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

Insiders Place Their Bets

In other news, EVP Mark Casper sold 3,000 shares of the company's 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 directly owned 17,163 shares of the company's stock, valued at approximately $1,241,743.05. This represents a 14.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sandeep Bharathi bought 3,400 shares of Marvell Technology stock in a transaction dated Thursday, September 25th. The stock was acquired at an average cost of $78.03 per share, with a total value of $265,302.00. Following the completion of the acquisition, the insider directly owned 73,392 shares of the company's stock, valued at approximately $5,726,777.76. The trade was a 4.86% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 27,200 shares of company stock valued at $2,109,632. 0.33% of the stock is owned by insiders.

Marvell Technology Price Performance

Shares of MRVL opened at $86.97 on Wednesday. Marvell Technology, Inc. has a 1-year low of $47.08 and a 1-year high of $127.48. The stock has a market cap of $74.98 billion, a PE ratio of -669.00, a price-to-earnings-growth ratio of 1.09 and a beta of 1.94. 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 fifty day moving average price of $74.74 and a 200 day moving average price of $68.39.

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

Marvell Technology announced that its Board of Directors has approved a share repurchase plan on Wednesday, September 24th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the semiconductor company to repurchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 30th. Stockholders 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 dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, October 10th. Marvell Technology's dividend payout ratio is presently -184.62%.

Wall Street Analysts Forecast Growth

MRVL has been the subject of a number of analyst reports. B. Riley reiterated a "buy" rating and set a $115.00 target price (up previously from $110.00) on shares of Marvell Technology in a research note on Wednesday, June 18th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Marvell Technology in a research note on Saturday, September 27th. Bank of America reiterated a "neutral" rating and set a $78.00 target price (down previously from $90.00) on shares of Marvell Technology in a research note on Friday, August 29th. Wells Fargo & Company lowered their target price on shares of Marvell Technology from $95.00 to $90.00 and set an "overweight" rating for the company in a research note on Friday, August 29th. Finally, Oppenheimer reiterated an "outperform" rating and set a $95.00 target price on shares of Marvell Technology in a research note on Friday, August 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $91.67.

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.

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