New Century Financial Group LLC Makes New Investment in Marvell Technology, Inc. $MRVL

Key Points

• New Century Financial Group LLC has made a new investment in Marvell Technology by acquiring 18,721 shares valued at approximately $1.45 million, representing 1.7% of its investment portfolio.
• Marvell Technology reported earnings of $0.67 per share for the previous quarter, matching analysts' estimates while revenue rose by 57.6% year-over-year, totaling $2.01 billion.
• The company recently announced a $5.00 billion share buyback program that allows it to repurchase up to 7.8% of its stock, indicating management's belief in its undervalued status.

New Century Financial Group LLC acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 18,721 shares of the semiconductor company's stock, valued at approximately $1,449,000. Marvell Technology makes up about 1.7% of New Century Financial Group LLC's investment portfolio, making the stock its 15th biggest position.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in Marvell Technology by 1.9% in the first quarter. Vanguard Group Inc. now owns 63,770,122 shares of the semiconductor company's stock valued at $3,926,326,000 after acquiring an additional 1,212,338 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake 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 valued at $1,272,117,000 after purchasing an additional 5,050,159 shares during the period. Brown Advisory Inc. grew its holdings in Marvell Technology by 2.2% during the 1st quarter. Brown Advisory Inc. now owns 19,300,527 shares of the semiconductor company's stock valued at $1,188,333,000 after purchasing an additional 423,892 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Marvell Technology by 2.6% during the 1st 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 lifted its holdings in Marvell Technology by 6.7% in the 1st 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 in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Trading Up 2.8%

Marvell Technology stock opened at $86.20 on Friday. Marvell Technology, Inc. has a 52 week low of $47.08 and a 52 week high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.44 and a current ratio of 1.88. The firm has a market capitalization of $74.31 billion, a price-to-earnings ratio of -663.08, a P/E/G ratio of 1.03 and a beta of 1.94. The company has a 50 day moving average price of $74.03 and a 200 day moving average price of $68.03.

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

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 30th. Stockholders of record on Friday, October 10th will be issued a dividend of $0.06 per share. 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%.

Marvell Technology announced that its Board of Directors has initiated a share buyback program on Wednesday, September 24th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the semiconductor company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

MRVL has been the topic of several recent analyst reports. China Renaissance initiated coverage on Marvell Technology in a research note on Thursday, June 5th. They issued a "buy" rating and a $110.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Marvell Technology from $80.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, September 25th. Evercore ISI cut their price target on shares of Marvell Technology from $133.00 to $122.00 and set an "outperform" rating on the stock in a report on Friday, August 29th. UBS Group decreased their price objective on shares of Marvell Technology from $110.00 to $95.00 and set a "buy" rating for the company in a report on Friday, August 29th. Finally, JPMorgan Chase & Co. cut their target price on shares of Marvell Technology from $130.00 to $120.00 and set an "overweight" rating on the stock in a research note on Friday, August 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, Marvell Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.67.

Insiders Place Their Bets

In other Marvell Technology news, insider Sandeep Bharathi bought 3,400 shares of the firm's stock in a transaction on Thursday, September 25th. The stock was bought at an average cost of $78.03 per share, with a total value of $265,302.00. Following the completion of the transaction, the insider directly owned 73,392 shares of the company's stock, valued at approximately $5,726,777.76. The trade was a 4.86% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Willem A. Meintjes purchased 3,400 shares of the company's stock in a transaction dated Thursday, September 25th. The shares were acquired at an average price of $78.03 per share, for a total transaction of $265,302.00. Following the purchase, the chief financial officer owned 132,159 shares in the company, valued at $10,312,366.77. The trade was a 2.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 27,200 shares of company stock worth $2,109,632 in the last quarter. Corporate insiders own 0.19% of the company's stock.

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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