Venturi Wealth Management LLC Acquires Shares of 27,288 Marvell Technology, Inc. $MRVL

Key Points

• Venturi Wealth Management LLC acquired 27,288 shares of Marvell Technology, valued at approximately $2.1 million during the 2nd quarter, reflecting a growing interest from institutional investors.
• Marvell Technology's stock price is currently at $86.97, with a market cap of $74.98 billion, but shares are down by 2.2% recently.
• The company recently announced a $0.06 quarterly dividend and a stock buyback authorization of up to $5 billion, indicating confidence in its stock valuation.

Venturi Wealth Management LLC acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 27,288 shares of the semiconductor company's stock, valued at approximately $2,112,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of MRVL. Taylor Frigon Capital Management LLC increased its stake in shares of Marvell Technology by 16.5% during the second quarter. Taylor Frigon Capital Management LLC now owns 33,605 shares of the semiconductor company's stock worth $2,601,000 after purchasing an additional 4,748 shares during the period. BOCHK Asset Management Ltd acquired a new stake in shares of Marvell Technology in the 2nd quarter valued at $1,486,000. Westbourne Investments Inc. boosted its holdings in shares of Marvell Technology by 442.4% in the 2nd quarter. Westbourne Investments Inc. now owns 21,695 shares of the semiconductor company's stock valued at $1,679,000 after purchasing an additional 17,695 shares in the last quarter. Family Legacy Financial Solutions LLC acquired a new stake in shares of Marvell Technology in the 2nd quarter valued at $1,618,000. Finally, Siren L.L.C. boosted its holdings in shares of Marvell Technology by 636.2% in the 1st quarter. Siren L.L.C. now owns 36,808 shares of the semiconductor company's stock valued at $2,266,000 after purchasing an additional 31,808 shares in the last quarter. Institutional investors own 83.51% of the company's stock.

Marvell Technology Stock Down 2.2%

Shares of NASDAQ:MRVL opened at $86.97 on Wednesday. The firm has a market cap of $74.98 billion, a P/E ratio of -669.00, a P/E/G ratio of 1.09 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 has a fifty day simple moving average of $74.74 and a 200 day simple moving average of $68.39.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced 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. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.01 billion. Marvell Technology had a positive return on equity of 11.01% and a negative net margin of 1.43%.Marvell Technology's revenue for the quarter was up 57.6% compared to the same quarter last year. During the same period last year, the company earned $0.30 EPS. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. Analysts predict that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Announces Dividend

The firm 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 $0.06 dividend. The ex-dividend date of this dividend 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 -184.62%.

Marvell Technology announced that its Board of Directors has approved a stock buyback plan on Wednesday, September 24th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MRVL shares. Cowen downgraded Marvell Technology from a "buy" rating to a "hold" rating in a report on Tuesday, September 30th. Melius Research raised their target price on Marvell Technology from $67.00 to $76.00 and gave the company a "hold" rating in a report on Wednesday, June 18th. Zacks Research raised Marvell Technology from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 24th. Evercore ISI reduced their target price on Marvell Technology from $133.00 to $122.00 and set an "outperform" rating on the stock in a report on Friday, August 29th. Finally, Wall Street Zen raised Marvell Technology from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $91.67.

Insider Transactions at Marvell Technology

In other Marvell Technology news, insider Sandeep Bharathi acquired 3,400 shares of the stock in a transaction dated Thursday, September 25th. The stock was purchased at an average cost of $78.03 per share, with a total value of $265,302.00. Following the transaction, the insider owned 73,392 shares in the company, valued at approximately $5,726,777.76. The trade was a 4.86% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Willem A. Meintjes acquired 3,400 shares of the stock in a transaction dated 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 transaction, the chief financial officer owned 132,159 shares in the company, 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 90 days, insiders purchased 27,200 shares of company stock worth $2,109,632. Corporate insiders own 0.33% of the company's stock.

About Marvell Technology

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.