Prime Capital Investment Advisors LLC Sells 3,450 Shares of Marvell Technology, Inc. $MRVL

Key Points

• Prime Capital Investment Advisors LLC has reduced its stake in Marvell Technology by 17.0%, selling 3,450 shares during the second quarter, bringing its holdings down to approximately $1.3 million.
• Marvell Technology's quarterly earnings met expectations, reporting $0.67 earnings per share on $2.01 billion in revenue, marking a 57.6% increase year-over-year.
• The company has announced a $5 billion share repurchase program, indicating confidence in its stock value, and will also issue a quarterly dividend of $0.06 per share.

Prime Capital Investment Advisors LLC reduced its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 17.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,842 shares of the semiconductor company's stock after selling 3,450 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in Marvell Technology were worth $1,304,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake 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 acquiring an additional 1,212,338 shares during the period. Goldman Sachs Group Inc. boosted 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 worth $1,272,117,000 after acquiring an additional 5,050,159 shares during the period. Brown Advisory Inc. boosted its stake in shares of Marvell Technology by 2.2% during the 1st quarter. Brown Advisory Inc. now owns 19,300,527 shares of the semiconductor company's stock worth $1,188,333,000 after acquiring an additional 423,892 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of 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 boosted its stake in shares of Marvell Technology by 6.7% during 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 acquiring an additional 488,610 shares during the period. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $92.50 on Thursday. The stock has a market capitalization of $79.74 billion, a PE ratio of -711.54, a P/E/G ratio of 1.06 and a beta of 1.94. 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 business has a fifty day moving average price of $74.95 and a two-hundred day moving average price of $68.55. Marvell Technology, Inc. has a fifty-two week low of $47.08 and a fifty-two week high of $127.48.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its quarterly earnings data on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share 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 positive return on equity of 11.01% and a negative net margin of 1.43%.The company's quarterly revenue was up 57.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 EPS. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. As a group, equities analysts predict that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology declared that its board has approved a share repurchase program on Wednesday, September 24th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the semiconductor company to buy up to 7.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are undervalued.

Marvell Technology Announces Dividend

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

Insider Transactions at Marvell Technology

In other Marvell Technology news, COO Chris Koopmans purchased 6,800 shares of the stock in a transaction dated Thursday, September 25th. The stock was bought at an average price 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 approximately $8,179,494.75. This represents a 6.94% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Sandeep Bharathi purchased 3,400 shares of the stock in a transaction dated Thursday, September 25th. The shares were acquired at an average cost of $78.03 per share, with a total value of $265,302.00. Following the acquisition, the insider directly owned 73,392 shares in the company, valued at $5,726,777.76. This represents a 4.86% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 27,200 shares of company stock worth $2,109,632. Corporate insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MRVL shares. Wall Street Zen upgraded Marvell Technology from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. TD Cowen restated a "hold" rating and issued a $85.00 price target (down from $90.00) on shares of Marvell Technology in a research note on Wednesday, October 1st. Barclays restated an "overweight" rating and issued a $80.00 price target on shares of Marvell Technology in a research note on Friday, August 29th. The Goldman Sachs Group started coverage on Marvell Technology in a research note on Thursday, July 10th. They issued a "neutral" rating and a $75.00 price target for the company. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Marvell Technology in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $91.67.

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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