Nordea Investment Management AB reduced its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 18.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,901,344 shares of the semiconductor company's stock after selling 1,294,325 shares during the period. Nordea Investment Management AB owned approximately 0.68% of Marvell Technology worth $494,179,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the company. Ellsworth Advisors LLC acquired a new stake in shares of Marvell Technology during the 3rd quarter valued at approximately $5,864,000. Taylor Frigon Capital Management LLC lifted its holdings in shares of Marvell Technology by 16.5% in the 2nd quarter. Taylor Frigon Capital Management LLC now owns 33,605 shares of the semiconductor company's stock worth $2,601,000 after purchasing an additional 4,748 shares during the last quarter. Waterfront Wealth Inc. grew its stake in Marvell Technology by 21.5% during the 2nd quarter. Waterfront Wealth Inc. now owns 18,394 shares of the semiconductor company's stock worth $1,424,000 after buying an additional 3,258 shares during the last quarter. BOCHK Asset Management Ltd acquired a new stake in Marvell Technology in the second quarter worth $1,486,000. Finally, Westbourne Investments Inc. lifted its stake in Marvell Technology by 442.4% in the second quarter. Westbourne Investments Inc. now owns 21,695 shares of the semiconductor company's stock valued at $1,679,000 after buying an additional 17,695 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.
Marvell Technology Stock Performance
Marvell Technology stock opened at $82.89 on Tuesday. The stock has a 50-day simple moving average of $87.28 and a 200 day simple moving average of $80.75. The stock has a market capitalization of $70.30 billion, a price-to-earnings ratio of 29.08, a P/E/G ratio of 0.81 and a beta of 1.95. The company has a quick ratio of 1.64, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. 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 issued its earnings results on Tuesday, December 2nd. The semiconductor company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.74 by $0.02. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.06 billion. Marvell Technology had a net margin of 31.75% and a return on equity of 13.15%. The business's quarterly revenue was up 36.8% on a year-over-year basis. 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, research analysts anticipate that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.
Marvell Technology announced that its Board of Directors has approved a share buyback plan on Wednesday, September 24th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to buy up to 7.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.
Marvell Technology Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 29th. Stockholders of record on Friday, January 9th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, January 9th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. Marvell Technology's dividend payout ratio (DPR) is 8.42%.
Insider Activity
In related news, EVP Mark Casper sold 5,000 shares of the business's stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $93.08, for a total value of $465,400.00. Following the completion of the transaction, the executive vice president owned 19,418 shares of the company's stock, valued at $1,807,427.44. The trade was a 20.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is currently owned by insiders.
Analyst Ratings Changes
MRVL has been the topic of a number of research analyst reports. Citigroup reiterated a "buy" rating on shares of Marvell Technology in a research note on Monday, December 22nd. Susquehanna set a $120.00 price objective on shares of Marvell Technology and gave the company a "positive" rating in a research report on Wednesday, December 3rd. Benchmark reiterated a "hold" rating on shares of Marvell Technology in a report on Tuesday, December 23rd. Stifel Nicolaus upped their price target on Marvell Technology from $95.00 to $114.00 and gave the company a "buy" rating in a report on Wednesday, December 3rd. Finally, Rosenblatt Securities restated a "buy" rating and issued a $120.00 target price on shares of Marvell Technology in a report on Wednesday, January 7th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $116.03.
Get Our Latest Stock Report on MRVL
About Marvell Technology
(
Free Report)
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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