Sava Infond d.o.o. Grows Holdings in Marvell Technology, Inc. $MRVL

Key Points

• Sava Infond d.o.o. increased its holdings in Marvell Technology by 60% during Q2, owning 144,000 shares valued at approximately $11.15 million.
• Marvell announced a $5 billion share repurchase plan, allowing for the repurchase of up to 7.8% of its shares, reflecting management's belief that the stock is undervalued.
• The company's recent quarterly earnings matched analysts' expectations with an EPS of $0.67 and revenue of $2.01 billion, which represented a 57.6% increase year-over-year.

Sava Infond d.o.o. lifted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 60.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,000 shares of the semiconductor company's stock after buying an additional 54,000 shares during the quarter. Marvell Technology makes up about 1.7% of Sava Infond d.o.o.'s holdings, making the stock its 14th biggest holding. Sava Infond d.o.o.'s holdings in Marvell Technology were worth $11,146,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MRVL. Nuveen LLC purchased a new stake in shares of Marvell Technology in the 1st quarter worth about $399,587,000. Goldman Sachs Group Inc. grew its position in shares of Marvell Technology by 32.3% in 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 buying an additional 5,050,159 shares during the period. Impax Asset Management Group plc grew its position in Marvell Technology by 748.3% during the 1st quarter. Impax Asset Management Group plc now owns 3,700,841 shares of the semiconductor company's stock valued at $227,033,000 after purchasing an additional 3,264,557 shares during the last quarter. AQR Capital Management LLC grew its position in Marvell Technology by 662.9% during the 1st quarter. AQR Capital Management LLC now owns 3,119,855 shares of the semiconductor company's stock valued at $187,566,000 after purchasing an additional 2,710,894 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Marvell Technology by 8,128.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,460,851 shares of the semiconductor company's stock valued at $151,515,000 after purchasing an additional 2,430,945 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Marvell Technology news, COO Chris Koopmans bought 6,800 shares of the business's stock in a transaction that occurred on Thursday, September 25th. The stock was purchased at an average cost of $78.03 per share, with a total value of $530,604.00. Following the completion of the acquisition, the chief operating officer owned 104,825 shares in the company, valued at $8,179,494.75. This trade represents a 6.94% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Willem A. Meintjes bought 3,400 shares of the business's stock in a transaction that occurred on Thursday, September 25th. The stock was acquired at an average cost of $78.03 per share, with a total value of $265,302.00. Following the completion of the acquisition, the chief financial officer owned 132,159 shares of the company's stock, valued at $10,312,366.77. This represents a 2.64% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 27,200 shares of company stock valued at $2,109,632. Company insiders own 0.19% of the company's stock.

Marvell Technology Price Performance

NASDAQ MRVL opened at $86.22 on Friday. Marvell Technology, Inc. has a 12 month low of $47.08 and a 12 month high of $127.48. The stock has a market cap of $74.33 billion, a price-to-earnings ratio of -663.23, a PEG ratio of 1.06 and a beta of 1.94. The company's 50 day moving average is $74.27 and its two-hundred day moving average is $68.16. The company has a current ratio of 1.88, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30.

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

Marvell Technology declared that its board has authorized a share repurchase plan on Wednesday, September 24th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the semiconductor company to purchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its stock is undervalued.

Marvell Technology Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently commented on MRVL shares. UBS Group cut their price objective 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. Zacks Research raised shares of Marvell Technology from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 24th. Jefferies Financial Group dropped their price target on shares of Marvell Technology from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, August 29th. Wells Fargo & Company dropped their price target on shares of Marvell Technology from $95.00 to $90.00 and set an "overweight" rating on the stock in a report on Friday, August 29th. Finally, Cowen downgraded shares of Marvell Technology from a "buy" rating to a "hold" rating in a report on Tuesday. 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $91.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.