Vaughan Nelson Investment Management L.P. Has $41.91 Million Position in Marvell Technology, Inc. $MRVL

Key Points

• Vaughan Nelson Investment Management L.P. reduced its stake in Marvell Technology by 21.5% during Q2, owning 541,449 shares worth approximately $41.91 million.
• Marvell Technology declared a $5 billion stock buyback plan to repurchase up to 7.8% of its outstanding shares, indicating the board's belief in the stock's undervaluation.
• The company is expected to report 0.91 EPS for the current fiscal year, following a promising quarterly earnings report with revenues up 57.6% year-over-year.

Vaughan Nelson Investment Management L.P. lowered its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 21.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 541,449 shares of the semiconductor company's stock after selling 148,206 shares during the quarter. Vaughan Nelson Investment Management L.P. owned 0.06% of Marvell Technology worth $41,908,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. New Century Financial Group LLC acquired a new position in Marvell Technology during the second quarter valued at approximately $1,449,000. Hilltop National Bank acquired a new position in Marvell Technology during the second quarter valued at approximately $48,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Marvell Technology by 21.8% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,296,446 shares of the semiconductor company's stock valued at $100,345,000 after purchasing an additional 232,253 shares during the period. Mechanics Financial Corp grew its holdings in Marvell Technology by 9.4% during the second quarter. Mechanics Financial Corp now owns 4,231 shares of the semiconductor company's stock valued at $327,000 after purchasing an additional 364 shares during the period. Finally, ASR Vermogensbeheer N.V. grew its holdings in Marvell Technology by 18.6% during the second quarter. ASR Vermogensbeheer N.V. now owns 91,214 shares of the semiconductor company's stock valued at $7,060,000 after purchasing an additional 14,294 shares during the period. Institutional investors and hedge funds own 83.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MRVL. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Marvell Technology from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, September 25th. Wells Fargo & Company reduced their target price on shares of Marvell Technology from $95.00 to $90.00 and set an "overweight" rating for the company in a research note on Friday, August 29th. B. Riley reaffirmed a "buy" rating and issued a $115.00 target price (up from $110.00) on shares of Marvell Technology in a research note on Wednesday, June 18th. Jefferies Financial Group reduced their target price on shares of Marvell Technology from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, August 29th. Finally, Rosenblatt Securities reduced their target price on shares of Marvell Technology from $124.00 to $95.00 and set a "buy" rating for the company in a research note on Friday, August 29th. Two equities research 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.67.

Insider Activity

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

Marvell Technology Stock Performance

Shares of MRVL stock opened at $86.22 on Friday. The company's fifty day simple moving average is $74.27 and its 200-day simple moving average is $68.16. The company has a quick ratio of 1.44, a current ratio of 1.88 and a debt-to-equity ratio of 0.30. The firm has a market cap of $74.33 billion, a PE ratio of -663.23, a P/E/G ratio of 1.06 and a beta of 1.94. Marvell Technology, Inc. has a 12 month low of $47.08 and a 12 month high of $127.48.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its quarterly 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 negative net margin of 1.43% and a positive return on equity of 11.01%. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the firm posted $0.30 earnings per share. The company's quarterly revenue 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. Equities research analysts expect that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The company 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 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, October 10th. Marvell Technology's dividend payout ratio is -184.62%.

Marvell Technology declared that its Board of Directors has authorized a stock 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 purchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.

Marvell Technology 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.

Want to see what other hedge funds are holding MRVL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marvell Technology, Inc. (NASDAQ:MRVL - Free Report).

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.