Phoenix Financial Ltd. Acquires 24,627 Shares of Marvell Technology, Inc. $MRVL

Key Points

• Phoenix Financial Ltd. significantly increased its holdings in Marvell Technology, acquiring an additional 24,627 shares, bringing its total ownership to 35,190 shares valued at approximately $2.72 million.
• Marvell Technology's board has initiated a $5 billion stock repurchase program to buy back up to 7.8% of its stock, signaling confidence in the company's valuation.
• The company reported a 57.6% year-over-year revenue growth in its latest earnings, with a quarterly revenue of $2.01 billion, matching the consensus estimate.

Phoenix Financial Ltd. lifted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 233.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,190 shares of the semiconductor company's stock after acquiring an additional 24,627 shares during the period. Phoenix Financial Ltd.'s holdings in Marvell Technology were worth $2,723,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of MRVL. Vanguard Group Inc. grew its position in shares of Marvell Technology by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 63,770,122 shares of the semiconductor company's stock worth $3,926,326,000 after purchasing 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 buying an additional 5,050,159 shares during the period. Brown Advisory Inc. grew its position in Marvell Technology by 2.2% during 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 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 acquiring an additional 227,555 shares during the period. Finally, Pictet Asset Management Holding SA raised 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 valued at $478,794,000 after acquiring an additional 488,610 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

Marvell Technology Trading Down 1.8%

NASDAQ MRVL opened at $84.26 on Wednesday. The company has a market cap of $72.64 billion, a price-to-earnings ratio of -648.15, a price-to-earnings-growth ratio of 1.05 and a beta of 1.94. Marvell Technology, Inc. has a twelve month low of $47.08 and a twelve month high of $127.48. The company has a quick ratio of 1.44, a current ratio of 1.88 and a debt-to-equity ratio of 0.30. The business's fifty day moving average is $76.86 and its 200 day moving average is $70.12.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its earnings results on Thursday, August 28th. The semiconductor company reported $0.67 EPS for the quarter, meeting the consensus estimate of $0.67. The firm 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 business's quarterly revenue was up 57.6% on a year-over-year basis. During the same period last year, the company earned $0.30 earnings per share. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. As a group, sell-side analysts expect that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

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

Marvell Technology Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, October 10th. Marvell Technology's payout ratio is -184.62%.

Insider Buying and Selling at Marvell Technology

In related news, COO Chris Koopmans bought 6,800 shares of the business's stock in a transaction on Thursday, September 25th. The shares were purchased at an average cost of $78.03 per share, with a total value of $530,604.00. Following the acquisition, the chief operating officer owned 104,825 shares of the company's stock, valued at $8,179,494.75. This represents a 6.94% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Willem A. Meintjes purchased 3,400 shares of the firm's stock in a transaction dated 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 purchase, the chief financial officer owned 132,159 shares of the company's stock, valued at approximately $10,312,366.77. This trade represents a 2.64% 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. Company insiders own 0.33% of the company's stock.

Analyst Ratings Changes

MRVL has been the topic of several analyst reports. Needham & Company LLC increased their target price on Marvell Technology from $80.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, September 25th. TD Cowen reissued a "hold" rating and issued a $85.00 target price (down from $90.00) on shares of Marvell Technology in a report on Wednesday, October 1st. Jefferies Financial Group dropped their target price on shares of Marvell Technology from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, August 29th. Zacks Research upgraded shares of Marvell Technology from a "strong sell" rating to a "hold" rating in a research report on Wednesday, September 24th. Finally, Benchmark restated a "buy" rating and set a $95.00 price objective on shares of Marvell Technology in a research report on Friday, August 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $93.06.

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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