Marvell Technology, Inc. $MRVL Shares Bought by Cove Private Wealth LLC

Key Points

• Cove Private Wealth LLC increased its stake in Marvell Technology by 10.4% during the second quarter, now holding 37,016 shares valued at $2,865,000, making it the firm's 24th biggest holding.
• Marvell Technology recently reported earnings of $0.67 per share for the last quarter, matching analysts' expectations, with a 57.6% year-over-year revenue growth to $2.01 billion.
• The company announced a quarterly dividend of $0.06 to be paid on October 30th, maintaining a dividend yield of 0.3%, despite a low payout ratio of -184.62%.

Cove Private Wealth LLC boosted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 10.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,016 shares of the semiconductor company's stock after buying an additional 3,500 shares during the period. Marvell Technology accounts for approximately 1.0% of Cove Private Wealth LLC's portfolio, making the stock its 24th biggest holding. Cove Private Wealth LLC's holdings in Marvell Technology were worth $2,865,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. New Insight Wealth Advisors acquired a new position in Marvell Technology during the second quarter worth approximately $833,000. Congress Asset Management Co. acquired a new position in Marvell Technology during the second quarter worth approximately $1,186,000. Register Financial Advisors LLC increased its position in Marvell Technology by 68.1% during the second quarter. Register Financial Advisors LLC now owns 11,108 shares of the semiconductor company's stock worth $860,000 after buying an additional 4,500 shares during the period. Dakota Wealth Management increased its position in Marvell Technology by 53.3% during the second quarter. Dakota Wealth Management now owns 17,905 shares of the semiconductor company's stock worth $1,386,000 after buying an additional 6,225 shares during the period. Finally, Perigon Wealth Management LLC increased its position in Marvell Technology by 28.4% during the second quarter. Perigon Wealth Management LLC now owns 13,915 shares of the semiconductor company's stock worth $1,077,000 after buying an additional 3,074 shares during the period. Institutional investors and hedge funds own 83.51% of the company's stock.

Marvell Technology Trading Down 0.8%

Shares of MRVL stock opened at $83.17 on Friday. The business's fifty day moving average price is $73.14 and its 200 day moving average price is $67.63. Marvell Technology, Inc. has a 1-year low of $47.08 and a 1-year high of $127.48. The firm has a market capitalization of $71.70 billion, a PE ratio of -639.77, a P/E/G ratio of 1.01 and a beta of 1.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.88 and a quick ratio of 1.44.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its quarterly earnings data on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share 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 analyst estimates of $2.01 billion. During the same quarter in the prior year, the company posted $0.30 earnings per share. Marvell Technology'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, sell-side analysts forecast that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Announces Dividend

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. The ex-dividend date of this dividend is Friday, October 10th. This represents a $0.24 annualized dividend and a yield of 0.3%. Marvell Technology's dividend payout ratio is -184.62%.

Marvell Technology announced that its board has authorized a stock buyback 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 a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MRVL shares. Piper Sandler reaffirmed an "overweight" rating and set a $85.00 price target (down previously from $95.00) on shares of Marvell Technology in a research report on Friday, May 30th. Morgan Stanley lowered their target price on Marvell Technology from $80.00 to $76.00 and set an "equal weight" rating on the stock in a research note on Friday, August 29th. China Renaissance began coverage on Marvell Technology in a report on Thursday, June 5th. They issued a "buy" rating and a $110.00 target price on the stock. Barclays reissued an "overweight" rating and issued a $80.00 target price on shares of Marvell Technology in a report on Friday, August 29th. Finally, JPMorgan Chase & Co. dropped their target price on Marvell Technology from $130.00 to $120.00 and set an "overweight" rating on the stock in a report on Friday, August 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $91.17.

Insider Buying and Selling

In other news, CEO Matthew J. Murphy bought 13,600 shares of the stock in a transaction on Thursday, September 25th. The shares were bought at an average price of $77.09 per share, with a total value of $1,048,424.00. Following the completion of the acquisition, the chief executive officer owned 268,637 shares of the company's stock, valued at approximately $20,709,226.33. This trade represents a 5.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Chris Koopmans bought 6,800 shares of the stock in a transaction on Thursday, September 25th. The stock was purchased at an average cost of $78.03 per share, for a total transaction of $530,604.00. Following the acquisition, the chief operating officer directly owned 104,825 shares of the company's stock, valued at $8,179,494.75. The trade was a 6.94% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 27,200 shares of company stock valued at $2,109,632 in the last three months. 0.19% of the stock is owned by insiders.

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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