TD Asset Management Inc Sells 998,633 Shares of Marvell Technology, Inc. $MRVL

Key Points

• TD Asset Management Inc significantly reduced its holdings in Marvell Technology by 79.3%, selling 998,633 shares and retaining a total of 260,816 shares valued at approximately $20.2 million.
• Several large investors, including Vanguard Group and Goldman Sachs, increased their stakes in Marvell Technology, reflecting a general trend of institutional investors boosting their positions in the company.
• Marvell Technology recently announced a $5 billion share buyback program, indicating management's belief that the stock is currently undervalued, while also reporting a dividend of $0.06 payable at the end of October.

TD Asset Management Inc trimmed its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 79.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 260,816 shares of the semiconductor company's stock after selling 998,633 shares during the quarter. TD Asset Management Inc's holdings in Marvell Technology were worth $20,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Marvell Technology by 1.9% in the first quarter. Vanguard Group Inc. now owns 63,770,122 shares of the semiconductor company's stock valued at $3,926,326,000 after buying an additional 1,212,338 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Marvell Technology by 32.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company's stock valued at $1,272,117,000 after acquiring an additional 5,050,159 shares during the period. Brown Advisory Inc. grew its holdings in Marvell Technology by 2.2% in the first quarter. Brown Advisory Inc. now owns 19,300,527 shares of the semiconductor company's stock worth $1,188,333,000 after purchasing an additional 423,892 shares during the period. Ameriprise Financial Inc. increased its stake in Marvell Technology by 2.6% in the first quarter. Ameriprise Financial Inc. now owns 8,942,304 shares of the semiconductor company's stock valued at $562,991,000 after purchasing an additional 227,555 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its stake in Marvell Technology by 6.7% in the first quarter. Pictet Asset Management Holding SA now owns 7,776,196 shares of the semiconductor company's stock valued at $478,794,000 after purchasing an additional 488,610 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

Analyst Ratings Changes

MRVL has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their target price on Marvell Technology from $95.00 to $90.00 and set an "overweight" rating for the company in a research report on Friday, August 29th. TD Cowen reissued a "hold" rating and issued a $85.00 price objective (down previously from $90.00) on shares of Marvell Technology in a research note on Wednesday, October 1st. 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 report on Friday, August 29th. JPMorgan Chase & Co. cut their target price on Marvell Technology from $130.00 to $120.00 and set an "overweight" rating on the stock in a report on Friday, August 29th. Finally, The Goldman Sachs Group initiated coverage on shares of Marvell Technology in a research note on Thursday, July 10th. They set a "neutral" rating and a $75.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $93.06.

Marvell Technology Stock Down 0.3%

Shares of NASDAQ:MRVL opened at $87.95 on Friday. The stock has a market cap of $75.82 billion, a price-to-earnings ratio of -676.54, a PEG ratio of 1.08 and a beta of 1.94. The company has a quick ratio of 1.44, a current ratio of 1.88 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 12-month low of $47.08 and a 12-month high of $127.48. The business's 50 day moving average is $76.56 and its 200 day moving average is $69.62.

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, meeting 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 analysts' expectations of $2.01 billion. During the same period last year, the business earned $0.30 EPS. The business'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. On average, sell-side analysts forecast that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

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

Marvell Technology declared that its Board of Directors has authorized a share buyback program on Wednesday, September 24th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase up to 7.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

Insider Activity

In other Marvell Technology news, insider Sandeep Bharathi purchased 3,400 shares of the company's stock in a transaction that occurred 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 completion of the acquisition, the insider owned 73,392 shares of the company's stock, valued at $5,726,777.76. The trade was a 4.86% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew J. Murphy acquired 13,600 shares of Marvell Technology stock in a transaction on Thursday, September 25th. The stock was acquired at an average price of $77.09 per share, with a total value of $1,048,424.00. Following the purchase, the chief executive officer directly owned 268,637 shares in the company, valued at approximately $20,709,226.33. This trade represents 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 worth $2,109,632 in the last quarter. 0.19% of the stock is owned by corporate 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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