QRG Capital Management Inc. Purchases 9,519 Shares of Marvell Technology, Inc. $MRVL

Key Points

• QRG Capital Management Inc. increased its holdings in Marvell Technology, Inc. by 13.6%, acquiring an additional 9,519 shares and bringing its total ownership to 79,646 shares valued at approximately $6.17 million.
• Insider transactions were notable, with CEO Matthew J. Murphy purchasing 13,600 shares at $77.09 each, raising his stake in the company, and CFO Willem A. Meintjes buying 3,400 shares at $78.03.
• The company announced a $5 billion stock buyback program, indicating management's belief that its shares are undervalued, alongside a quarterly dividend of $0.06 per share with a yield of 0.3%.

QRG Capital Management Inc. boosted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 13.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 79,646 shares of the semiconductor company's stock after buying an additional 9,519 shares during the quarter. QRG Capital Management Inc.'s holdings in Marvell Technology were worth $6,165,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MRVL. Harbor Capital Advisors Inc. raised its holdings in Marvell Technology by 0.8% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 19,945 shares of the semiconductor company's stock worth $1,544,000 after purchasing an additional 151 shares in the last quarter. CHICAGO TRUST Co NA raised its holdings in Marvell Technology by 3.5% in the 2nd quarter. CHICAGO TRUST Co NA now owns 4,703 shares of the semiconductor company's stock worth $364,000 after purchasing an additional 158 shares in the last quarter. Synovus Financial Corp raised its holdings in Marvell Technology by 3.5% in the 1st quarter. Synovus Financial Corp now owns 4,791 shares of the semiconductor company's stock worth $295,000 after purchasing an additional 161 shares in the last quarter. PFG Investments LLC raised its holdings in Marvell Technology by 2.6% in the 2nd quarter. PFG Investments LLC now owns 6,757 shares of the semiconductor company's stock worth $523,000 after purchasing an additional 174 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its holdings in Marvell Technology by 1.6% in the 2nd quarter. V Square Quantitative Management LLC now owns 11,032 shares of the semiconductor company's stock worth $854,000 after purchasing an additional 177 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

Insider Activity at Marvell Technology

In other news, CEO Matthew J. Murphy bought 13,600 shares of the firm's stock in a transaction on Thursday, September 25th. The shares were bought at an average price of $77.09 per share, for a total transaction of $1,048,424.00. Following the purchase, the chief executive officer owned 268,637 shares in the company, valued at approximately $20,709,226.33. The trade was a 5.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Willem A. Meintjes bought 3,400 shares of the firm's stock in a transaction on Thursday, September 25th. The shares were purchased 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. This trade represents a 2.64% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 27,200 shares of company stock worth $2,109,632 in the last 90 days. Insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MRVL shares. Melius Research upped their target price on shares of Marvell Technology from $67.00 to $76.00 and gave the stock a "hold" rating in a research report on Wednesday, June 18th. Morgan Stanley reduced their target price on shares of 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. UBS Group reduced their target price on shares of Marvell Technology from $110.00 to $95.00 and set a "buy" rating on the stock in a research report on Friday, August 29th. Needham & Company LLC upped their target price on shares of Marvell Technology from $80.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, September 25th. Finally, JPMorgan Chase & Co. reduced 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 report on Friday, August 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $91.67.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $86.22 on Monday. The firm's 50 day moving average price is $74.27 and its 200-day moving average price is $68.13. 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 stock has a market capitalization of $74.33 billion, a PE ratio of -663.23, a price-to-earnings-growth ratio of 1.06 and a beta of 1.94.

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

Marvell Technology announced that its board has approved a share repurchase program on Wednesday, September 24th that permits the company to buyback $5.00 billion in outstanding 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 often an indication that the company's management believes its shares are undervalued.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 30th. Shareholders of record on Friday, October 10th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, October 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. Marvell Technology's dividend payout ratio (DPR) is presently -184.62%.

Marvell Technology Profile

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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