Marvell Technology, Inc. $MRVL Shares Bought by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments increased its stake in Marvell Technology by 21.8%, now owning over 1.29 million shares valued at approximately $100.3 million.
• Analysts have mixed ratings for Marvell Technology, with two strong buy ratings, twenty-one buy ratings, and an average target price of $91.67.
• Marvell Technology announced a quarterly dividend of $0.06 per share and initiated a stock buyback program of up to $5 billion to support its stock price.

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 21.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,296,446 shares of the semiconductor company's stock after buying an additional 232,253 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.15% of Marvell Technology worth $100,345,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Marvell Technology by 1.9% during the first quarter. Vanguard Group Inc. now owns 63,770,122 shares of the semiconductor company's stock worth $3,926,326,000 after buying an additional 1,212,338 shares during the period. Goldman Sachs Group Inc. increased its position in Marvell Technology by 32.3% during the first quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company's stock worth $1,272,117,000 after buying an additional 5,050,159 shares during the period. Brown Advisory Inc. increased its position in Marvell Technology by 2.2% during the first quarter. Brown Advisory Inc. now owns 19,300,527 shares of the semiconductor company's stock worth $1,188,333,000 after buying an additional 423,892 shares during the period. Ameriprise Financial Inc. increased its position in Marvell Technology by 2.6% during the first quarter. Ameriprise Financial Inc. now owns 8,942,304 shares of the semiconductor company's stock worth $562,991,000 after buying an additional 227,555 shares during the period. Finally, Pictet Asset Management Holding SA increased its position in Marvell Technology by 6.7% during the first quarter. Pictet Asset Management Holding SA now owns 7,776,196 shares of the semiconductor company's stock worth $478,794,000 after buying an additional 488,610 shares during the period. Institutional investors and hedge funds own 83.51% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on MRVL shares. Deutsche Bank Aktiengesellschaft lifted their price target on Marvell Technology from $80.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, September 25th. Bank of America reiterated a "neutral" rating and issued a $78.00 target price (down from $90.00) on shares of Marvell Technology in a research note on Friday, August 29th. Melius Research lifted their target price on Marvell Technology from $67.00 to $76.00 and gave the company a "hold" rating in a research note on Wednesday, June 18th. BNP Paribas upgraded Marvell Technology to a "strong-buy" rating in a research note on Friday, August 29th. Finally, Rosenblatt Securities lowered their target price on Marvell Technology from $124.00 to $95.00 and set a "buy" rating on the stock in a research note on Friday, August 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Marvell Technology has an average rating of "Moderate Buy" and an average target price of $91.67.

Insider Activity

In related news, EVP Mark Casper sold 3,000 shares of Marvell Technology stock in a transaction on Friday, July 18th. The stock was sold at an average price of $72.35, for a total transaction of $217,050.00. Following the completion of the transaction, the executive vice president directly owned 17,163 shares of the company's stock, valued at approximately $1,241,743.05. The trade was a 14.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Sandeep Bharathi acquired 3,400 shares of Marvell Technology stock in a transaction that occurred on Thursday, September 25th. The shares were purchased 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 owned 73,392 shares of the company's stock, valued at $5,726,777.76. The trade was a 4.86% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 27,200 shares of company stock valued at $2,109,632 in the last 90 days. Insiders own 0.19% of the company's stock.

Marvell Technology Stock Up 2.8%

MRVL opened at $86.20 on Friday. 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 simple moving average of $74.03 and a 200-day simple moving average of $68.03. The stock has a market capitalization of $74.31 billion, a P/E ratio of -663.08, a P/E/G ratio of 1.03 and a beta of 1.94. Marvell Technology, Inc. has a 12 month low of $47.08 and a 12 month high of $127.48.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its quarterly earnings results on Thursday, August 28th. The semiconductor company reported $0.67 EPS for the quarter, meeting the consensus estimate of $0.67. The business had revenue of $2.01 billion during 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%.The company's quarterly revenue was up 57.6% compared to the same quarter last year. During the same period last year, the firm earned $0.30 EPS. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. On average, equities analysts anticipate that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 30th. Investors of record on Friday, October 10th will be issued a dividend of $0.06 per share. 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 payout ratio is currently -184.62%.

Marvell Technology declared that its Board of Directors has initiated a stock repurchase program on Wednesday, September 24th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the semiconductor company to purchase up to 7.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

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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