RFG Advisory LLC Buys 3,713 Shares of Marvell Technology, Inc. $MRVL

Key Points

• RFG Advisory LLC increased its stake in Marvell Technology by 8.4%, acquiring an additional 3,713 shares, bringing their total to 48,129 shares valued at approximately $3.73 million.
• Marvell Technology recently approved a $5 billion stock buyback program, allowing the company to buy back up to 7.8% of its shares, indicating management's belief that the stock is undervalued.
• The company reported a 57.6% increase in quarterly revenue year-over-year, with earnings per share meeting analysts' expectations at $0.67.

RFG Advisory LLC raised its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 8.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,129 shares of the semiconductor company's stock after acquiring an additional 3,713 shares during the period. RFG Advisory LLC's holdings in Marvell Technology were worth $3,725,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Perfromance Wealth Partners LLC bought a new position in Marvell Technology during the 2nd quarter valued at $212,000. NorthRock Partners LLC lifted its stake in Marvell Technology by 26.4% during the 2nd quarter. NorthRock Partners LLC now owns 6,832 shares of the semiconductor company's stock valued at $529,000 after acquiring an additional 1,429 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Marvell Technology by 6.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 18,249 shares of the semiconductor company's stock valued at $1,412,000 after acquiring an additional 1,146 shares in the last quarter. Yousif Capital Management LLC lifted its stake in Marvell Technology by 3.4% during the 2nd quarter. Yousif Capital Management LLC now owns 15,563 shares of the semiconductor company's stock valued at $1,205,000 after acquiring an additional 506 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its stake in Marvell Technology by 235.2% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 7,030 shares of the semiconductor company's stock valued at $546,000 after acquiring an additional 4,933 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Marvell Technology

In related news, COO Chris Koopmans bought 6,800 shares of Marvell Technology stock in a transaction on Thursday, September 25th. The stock was acquired at an average price of $78.03 per share, with a total value of $530,604.00. Following the acquisition, the chief operating officer directly 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Casper sold 3,000 shares of the business's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $72.35, for a total value of $217,050.00. Following the transaction, the executive vice president directly owned 17,163 shares of the company's stock, valued at $1,241,743.05. The trade was a 14.88% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 27,200 shares of company stock worth $2,109,632. 0.33% of the stock is owned by corporate insiders.

Marvell Technology Trading Down 3.5%

Shares of MRVL opened at $86.22 on Wednesday. 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 cap of $74.33 billion, a P/E ratio of -663.23, a price-to-earnings-growth ratio of 1.09 and a beta of 1.94. Marvell Technology, Inc. has a fifty-two week low of $47.08 and a fifty-two week high of $127.48. The business has a 50-day moving average of $75.83 and a 200 day moving average of $69.13.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its earnings results on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share for the quarter, meeting analysts' consensus estimates of $0.67. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates 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 quarter 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, research analysts forecast that Marvell Technology, Inc. will post 0.91 EPS for the current year.

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

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 30th. Shareholders 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 yield of 0.3%. The ex-dividend date of this dividend is Friday, October 10th. Marvell Technology's payout ratio is presently -184.62%.

Wall Street Analyst Weigh In

MRVL has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their target price on Marvell Technology from $95.00 to $90.00 and set an "overweight" rating on the stock in a research note on Friday, August 29th. The Goldman Sachs Group initiated coverage on Marvell Technology in a research note on Thursday, July 10th. They set a "neutral" rating and a $75.00 target price on the stock. Rosenblatt Securities lowered their target price on Marvell Technology from $124.00 to $95.00 and set a "buy" rating on the stock in a research note on Friday, August 29th. JPMorgan Chase & Co. lowered their target price on Marvell Technology from $130.00 to $120.00 and set an "overweight" rating on the stock in a research note on Friday, August 29th. Finally, B. Riley reiterated a "buy" rating and set a $115.00 target price (up from $110.00) on shares of Marvell Technology in a research note on Wednesday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, Marvell Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.67.

Marvell Technology Company 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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