McElhenny Sheffield Capital Management LLC Purchases Shares of 16,788 Marvell Technology, Inc. $MRVL

McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 16,788 shares of the semiconductor company's stock, valued at approximately $1,299,000.

A number of other large investors have also made changes to their positions in MRVL. Nuveen LLC bought a new stake in shares of Marvell Technology during the 1st quarter valued at about $399,587,000. Goldman Sachs Group Inc. grew its stake in shares of Marvell Technology by 32.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company's stock valued at $1,272,117,000 after purchasing an additional 5,050,159 shares during the period. Impax Asset Management Group plc grew its stake in shares of Marvell Technology by 748.3% during the 1st quarter. Impax Asset Management Group plc now owns 3,700,841 shares of the semiconductor company's stock valued at $227,033,000 after purchasing an additional 3,264,557 shares during the period. AQR Capital Management LLC grew its stake in shares of Marvell Technology by 662.9% during the 1st quarter. AQR Capital Management LLC now owns 3,119,855 shares of the semiconductor company's stock valued at $187,566,000 after acquiring an additional 2,710,894 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Marvell Technology by 8,128.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,460,851 shares of the semiconductor company's stock valued at $151,515,000 after acquiring an additional 2,430,945 shares during the period. 83.51% of the stock is currently owned by institutional investors.

Insider Activity

In other 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 completion of the transaction, the executive vice president directly owned 17,163 shares in the company, valued at approximately $1,241,743.05. This represents a 14.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Chris Koopmans bought 6,800 shares of the stock in a transaction dated Thursday, September 25th. The shares were purchased at an average price of $78.03 per share, with a total value of $530,604.00. Following the completion of the transaction, the chief operating officer directly owned 104,825 shares in the company, valued at approximately $8,179,494.75. The trade was a 6.94% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 27,200 shares of company stock worth $2,109,632. 0.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MRVL. Deutsche Bank Aktiengesellschaft boosted their price objective on Marvell Technology from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, September 25th. BNP Paribas upgraded Marvell Technology to a "strong-buy" rating in a research note on Friday, August 29th. Evercore ISI cut their price objective on Marvell Technology from $133.00 to $122.00 and set an "outperform" rating for the company in a research note on Friday, August 29th. Rosenblatt Securities cut their price objective on Marvell Technology from $124.00 to $95.00 and set a "buy" rating for the company in a research note on Friday, August 29th. Finally, Jefferies Financial Group cut their price objective on Marvell Technology from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, August 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $91.67.

Marvell Technology Trading Up 6.4%

MRVL stock opened at $92.50 on Thursday. Marvell Technology, Inc. has a 1-year low of $47.08 and a 1-year high of $127.48. 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 company has a market capitalization of $79.74 billion, a price-to-earnings ratio of -711.54, a PEG ratio of 1.06 and a beta of 1.94. The business has a 50 day simple moving average of $74.95 and a two-hundred day simple moving average of $68.55.

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

Marvell Technology announced that its board has authorized a stock buyback plan on Wednesday, September 24th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 30th. Stockholders of record on Friday, October 10th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, October 10th. Marvell Technology's dividend 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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