Sax Wealth Advisors LLC Acquires 3,494 Shares of Marvell Technology, Inc. $MRVL

Key Points

• Sax Wealth Advisors LLC increased its holdings in Marvell Technology by 25.2%, acquiring an additional 3,494 shares, bringing its total to 17,357 shares valued at approximately $1.34 million.
• Marvell Technology's stock rose by 6.4%, opening at $92.50, while the company reported a revenue of $2.01 billion for the recent quarter, a 57.6% increase year-over-year.
• The company has implemented a $5 billion share repurchase plan, reflecting management's belief that its stock is undervalued, alongside the announcement of a quarterly dividend of $0.06 per share.

Sax Wealth Advisors LLC grew its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 25.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 17,357 shares of the semiconductor company's stock after acquiring an additional 3,494 shares during the period. Sax Wealth Advisors LLC's holdings in Marvell Technology were worth $1,343,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Venturi Wealth Management LLC acquired a new stake in shares of Marvell Technology during the second quarter worth $2,112,000. Shell Asset Management Co. increased its position in shares of Marvell Technology by 155.3% during the second quarter. Shell Asset Management Co. now owns 47,573 shares of the semiconductor company's stock worth $3,682,000 after buying an additional 28,936 shares during the period. KLP Kapitalforvaltning AS increased its position in shares of Marvell Technology by 11.6% during the second quarter. KLP Kapitalforvaltning AS now owns 461,939 shares of the semiconductor company's stock worth $35,754,000 after buying an additional 47,900 shares during the period. Foresight Capital Management Advisors Inc. increased its position in shares of Marvell Technology by 5.1% during the second quarter. Foresight Capital Management Advisors Inc. now owns 4,696 shares of the semiconductor company's stock worth $363,000 after buying an additional 228 shares during the period. Finally, Country Club Bank acquired a new stake in shares of Marvell Technology during the second quarter worth $4,966,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Stock Up 6.4%

Marvell Technology stock opened at $92.50 on Thursday. Marvell Technology, Inc. has a fifty-two week low of $47.08 and a fifty-two week high of $127.48. The stock has a market cap of $79.74 billion, a PE ratio of -711.54, a price-to-earnings-growth ratio of 1.06 and a beta of 1.94. The firm's 50-day simple moving average is $74.95 and its 200 day simple moving average is $68.55. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.44 and a current ratio of 1.88.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its quarterly earnings results 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 business had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $2.01 billion. During the same period in the previous year, the company earned $0.30 earnings per share. The firm's revenue for the quarter was up 57.6% compared to the same quarter last year. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. Research analysts predict that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

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

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MRVL. Morgan Stanley decreased their price objective on shares of Marvell Technology from $80.00 to $76.00 and set an "equal weight" rating for the company in a research report on Friday, August 29th. JPMorgan Chase & Co. decreased their price objective on shares of Marvell Technology from $130.00 to $120.00 and set an "overweight" rating for the company in a research report on Friday, August 29th. Cantor Fitzgerald reiterated a "neutral" rating and set a $75.00 price objective on shares of Marvell Technology in a research report on Friday, August 29th. Melius Research raised their price target on shares of Marvell Technology from $67.00 to $76.00 and gave the stock a "hold" rating in a report on Wednesday, June 18th. Finally, B. Riley restated a "buy" rating and issued a $115.00 price target (up from $110.00) on shares of Marvell Technology in a report on Wednesday, June 18th. Two 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $91.67.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 3,000 shares of the business's stock in a transaction dated Friday, July 18th. The shares were 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 in the company, valued at $1,241,743.05. The trade was a 14.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew J. Murphy bought 13,600 shares of the company's stock in a transaction on Thursday, September 25th. The stock was bought at an average price of $77.09 per share, for a total transaction of $1,048,424.00. Following the completion of the purchase, the chief executive officer owned 268,637 shares of the company's stock, valued at approximately $20,709,226.33. The trade was a 5.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 27,200 shares of company stock valued at $2,109,632 in the last quarter. 0.19% of the stock is owned by company insiders.

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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