Marvell Technology, Inc. $MRVL Shares Purchased by OVERSEA CHINESE BANKING Corp Ltd

Key Points

• OVERSEA CHINESE BANKING Corp Ltd boosted its stake in Marvell by 1,292.1% in Q3, adding 361,807 shares to hold 389,809 shares worth about $32.66 million, making MRVL its 28th largest position and ~0.8% of the firm's portfolio.
• Marvell beat Q3 estimates with $0.76 EPS and $2.07B revenue (up 36.8% y/y), set Q4 guidance of $0.740–0.840, the board authorized a $5.00 billion share buyback, declared a $0.06 quarterly dividend, and holds a consensus "Moderate Buy" rating with an average target of $115.70.

OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 1,292.1% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 389,809 shares of the semiconductor company's stock after acquiring an additional 361,807 shares during the quarter. Marvell Technology comprises about 0.8% of OVERSEA CHINESE BANKING Corp Ltd's portfolio, making the stock its 28th largest position. OVERSEA CHINESE BANKING Corp Ltd's holdings in Marvell Technology were worth $32,656,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of MRVL. Birchcreek Wealth Management LLC acquired a new position in shares of Marvell Technology in the 3rd quarter valued at about $218,000. Impact Capital Partners LLC lifted its holdings in Marvell Technology by 13.3% in the third quarter. Impact Capital Partners LLC now owns 4,032 shares of the semiconductor company's stock valued at $339,000 after acquiring an additional 474 shares during the period. Argus Investors Counsel Inc. acquired a new position in Marvell Technology in the third quarter valued at approximately $250,000. Stephens Inc. AR grew its stake in shares of Marvell Technology by 60.4% during the 3rd quarter. Stephens Inc. AR now owns 19,518 shares of the semiconductor company's stock worth $1,656,000 after purchasing an additional 7,347 shares during the period. Finally, Cooper Capital Advisors LLC acquired a new stake in shares of Marvell Technology during the 3rd quarter worth approximately $375,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Trading Down 2.2%

MRVL stock opened at $81.21 on Thursday. Marvell Technology, Inc. has a 12-month low of $47.08 and a 12-month high of $127.48. The business's 50-day moving average is $86.95 and its 200 day moving average is $80.80. The company has a current ratio of 2.01, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The stock has a market cap of $68.87 billion, a price-to-earnings ratio of 28.49, a PEG ratio of 0.80 and a beta of 1.95.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its earnings results on Tuesday, December 2nd. The semiconductor company reported $0.76 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.02. The business had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $2.06 billion. Marvell Technology had a return on equity of 13.15% and a net margin of 31.75%.The business's revenue was up 36.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.43 earnings per share. Marvell Technology has set its Q4 2026 guidance at 0.740-0.840 EPS. On average, sell-side analysts anticipate that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology declared that its board has authorized a share buyback program on Wednesday, September 24th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 7.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 29th. Shareholders of record on Friday, January 9th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, January 9th. Marvell Technology's payout ratio is 8.42%.

Insider Activity

In other news, EVP Mark Casper sold 5,000 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $93.08, for a total value of $465,400.00. Following the completion of the sale, the executive vice president directly owned 19,418 shares in the company, valued at $1,807,427.44. This represents a 20.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on MRVL. Needham & Company LLC increased their price target on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, December 3rd. Jefferies Financial Group increased their target price on shares of Marvell Technology from $80.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, December 3rd. Summit Redstone set a $105.00 price target on Marvell Technology in a research note on Wednesday, October 15th. Cowen reaffirmed a "hold" rating on shares of Marvell Technology in a report on Wednesday, December 3rd. Finally, Stifel Nicolaus raised their price objective on Marvell Technology from $95.00 to $114.00 and gave the company a "buy" rating in a report on Wednesday, December 3rd. Three analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat.com, Marvell Technology currently has a consensus rating of "Moderate Buy" and an average price target of $115.70.

About Marvell Technology

Marvell Technology Group is a global semiconductor company that designs and develops integrated circuits and related software for data infrastructure, networking, storage and connectivity markets. The company's product portfolio includes system-on-chip (SoC) solutions, Ethernet physical-layer transceivers (PHYs), switch and switch silicon, optical interconnect components, storage controllers, and security processors. Marvell's technology is used to enable high-performance data centers, carrier networks, enterprise and cloud storage, as well as connectivity in automotive and industrial applications.

Founded in 1995 and headquartered in Santa Clara, California, Marvell has grown through both organic development and strategic acquisitions to broaden its capabilities across networking and data interconnect.

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