Marvell Technology, Inc. $MRVL Shares Sold by Xcel Wealth Management LLC

Key Points

• Xcel Wealth Management LLC reduced its stake in Marvell Technology by 77.1%, selling 10,915 shares and retaining 3,238 shares valued at approximately $251,000.
• Marvell Technology's stock has received mixed analyst ratings, with recent target price adjustments and an average rating of "Moderate Buy", and a price target of $90.50.
• The company announced a $5.00 billion stock buyback program and declared a quarterly dividend of $0.06, showcasing its commitment to returning value to shareholders.

Xcel Wealth Management LLC lessened its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 77.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,238 shares of the semiconductor company's stock after selling 10,915 shares during the quarter. Xcel Wealth Management LLC's holdings in Marvell Technology were worth $251,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Marvell Technology by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 63,770,122 shares of the semiconductor company's stock valued at $3,926,326,000 after purchasing an additional 1,212,338 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Marvell Technology by 32.3% in 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 last quarter. Brown Advisory Inc. raised its holdings in shares of Marvell Technology by 2.2% in 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 last quarter. Ameriprise Financial Inc. lifted its stake in shares of 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 grew its holdings in shares of 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 valued at $478,794,000 after buying an additional 488,610 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Insiders Place Their Bets

In other Marvell Technology news, EVP Mark Casper sold 3,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 17,163 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MRVL. Needham & Company LLC reduced their target price on Marvell Technology from $85.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, August 29th. Melius Research raised their price objective on Marvell Technology from $67.00 to $76.00 and gave the stock a "hold" rating in a research note on Wednesday, June 18th. Morgan Stanley dropped their target price on Marvell Technology from $80.00 to $76.00 and set an "equal weight" rating on the stock in a research report on Friday, August 29th. Zacks Research lowered shares of Marvell Technology from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 26th. Finally, Wall Street Zen upgraded shares of Marvell Technology from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $90.50.

Marvell Technology Trading Up 7.3%

Marvell Technology stock opened at $80.09 on Thursday. The firm has a market cap of $69.05 billion, a PE ratio of -616.08, a P/E/G ratio of 0.90 and a beta of 1.85. Marvell Technology, Inc. has a 12 month low of $47.08 and a 12 month high of $127.48. The stock's 50 day simple moving average is $72.74 and its two-hundred day simple moving average is $67.39. The company has a current ratio of 1.88, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30.

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

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

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 30th. Investors of record on Friday, October 10th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, October 10th. Marvell Technology's payout ratio is currently -184.62%.

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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