SteelPeak Wealth LLC Sells 7,354 Shares of Marvell Technology, Inc. $MRVL

Key Points

• SteelPeak Wealth LLC sold 7,354 shares of Marvell Technology, reducing its holdings by 4.2%, bringing the total to 168,684 shares valued at approximately $13 million.
• Marvell Technology announced a $5 billion share repurchase program and has a quarterly dividend of $0.06 per share, reflecting a 0.3% yield.
• Analysts have rated Marvell Technology with an average of "Moderate Buy"* and set a consensus price target of $91.67, with several firms recently adjusting their targets upward.

SteelPeak Wealth LLC cut its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 4.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 168,684 shares of the semiconductor company's stock after selling 7,354 shares during the period. SteelPeak Wealth LLC's holdings in Marvell Technology were worth $13,056,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hughes Financial Services LLC bought a new position in Marvell Technology during the first quarter worth about $26,000. Rossby Financial LCC bought a new position in Marvell Technology during the first quarter worth about $27,000. Financial Connections Group Inc. lifted its holdings in Marvell Technology by 776.0% during the first quarter. Financial Connections Group Inc. now owns 438 shares of the semiconductor company's stock worth $27,000 after acquiring an additional 388 shares in the last quarter. Vision Financial Markets LLC bought a new position in Marvell Technology during the first quarter worth about $28,000. Finally, Security National Bank bought a new position in Marvell Technology during the first quarter worth about $31,000. 83.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Benchmark restated a "buy" rating and issued a $95.00 price target on shares of Marvell Technology in a report on Friday, August 29th. Needham & Company LLC boosted their price target on Marvell Technology from $80.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, September 25th. Evercore ISI cut their price target on Marvell Technology from $133.00 to $122.00 and set an "outperform" rating on the stock in a report on Friday, August 29th. Deutsche Bank Aktiengesellschaft boosted their price target on Marvell Technology from $80.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, September 25th. Finally, UBS Group cut their price target on Marvell Technology from $110.00 to $95.00 and set a "buy" rating on the stock in a report on Friday, August 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $91.67.

Marvell Technology Stock Performance

MRVL opened at $88.92 on Tuesday. Marvell Technology, Inc. has a 52-week low of $47.08 and a 52-week high of $127.48. The firm has a market capitalization of $76.66 billion, a PE ratio of -684.00, a PEG ratio of 1.06 and a beta of 1.94. 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 business's 50-day simple moving average is $74.53 and its 200 day simple moving average is $68.26.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its earnings results on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.67. Marvell Technology had a positive return on equity of 11.01% and a negative net margin of 1.43%.The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the company posted $0.30 earnings per share. Marvell Technology's 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. As a group, sell-side analysts expect that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 30th. Shareholders of record on Friday, October 10th will be given 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 -184.62%.

Marvell Technology declared that its Board of Directors has authorized a share repurchase program on Wednesday, September 24th that allows the company to buyback $5.00 billion in outstanding 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 an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In other Marvell Technology news, CFO Willem A. Meintjes purchased 3,400 shares of the stock in a transaction on Thursday, September 25th. The shares were purchased at an average price of $78.03 per share, with a total value of $265,302.00. Following the completion of the transaction, the chief financial officer directly owned 132,159 shares in the company, valued at $10,312,366.77. This represents a 2.64% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sandeep Bharathi purchased 3,400 shares of the stock in a transaction on Thursday, September 25th. The shares were acquired at an average cost of $78.03 per share, for a total transaction of $265,302.00. Following the transaction, the insider owned 73,392 shares of the company's stock, valued at approximately $5,726,777.76. The trade was a 4.86% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 27,200 shares of company stock valued at $2,109,632. 0.33% of the stock is owned by 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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