Washington Capital Management Inc. Invests $743,000 in Marvell Technology, Inc. $MRVL

Key Points

• Washington Capital Management Inc. invested approximately $743,000 in 9,600 shares of Marvell Technology, as reported in its recent SEC filing.
• Marvell Technology has announced a quarterly dividend of $0.06 per share, payable on October 30th, with a 0.3% yield on an annualized basis.
• Insider purchases of Marvell Technology shares were made recently by COO Chris Koopmans and CEO Matthew J. Murphy, increasing their ownership stakes significantly.

Washington Capital Management Inc. purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,600 shares of the semiconductor company's stock, valued at approximately $743,000.

Other institutional investors have also modified their holdings of the company. Westbourne Investments Inc. grew its position in shares of Marvell Technology by 442.4% during the second quarter. Westbourne Investments Inc. now owns 21,695 shares of the semiconductor company's stock worth $1,679,000 after acquiring an additional 17,695 shares during the last quarter. Family Legacy Financial Solutions LLC bought a new position in shares of Marvell Technology during the second quarter worth about $1,618,000. Siren L.L.C. grew its position in 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 buying an additional 31,808 shares in the last quarter. Burr Financial Services LLC grew its position in Marvell Technology by 471.4% in the 2nd quarter. Burr Financial Services LLC now owns 37,085 shares of the semiconductor company's stock valued at $2,870,000 after buying an additional 30,595 shares in the last quarter. Finally, Wesbanco Bank Inc. grew its position in Marvell Technology by 53.8% in the 2nd quarter. Wesbanco Bank Inc. now owns 68,615 shares of the semiconductor company's stock valued at $5,311,000 after buying an additional 24,000 shares in the last quarter. Institutional investors own 83.51% of the company's stock.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $83.17 on Monday. The company has a current ratio of 1.88, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a twelve month low of $47.08 and a twelve month high of $127.48. The company has a market capitalization of $71.70 billion, a price-to-earnings ratio of -639.77, a PEG ratio of 1.02 and a beta of 1.85. The firm has a 50-day moving average of $73.14 and a two-hundred day moving average of $67.60.

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

Marvell Technology Announces Dividend

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 dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. Marvell Technology's dividend payout ratio is currently -184.62%.

Marvell Technology announced that its board has initiated a share repurchase program on Wednesday, September 24th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 7.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MRVL shares. Zacks Research upgraded shares of Marvell Technology from a "strong sell" rating to a "hold" rating in a research report on Wednesday, September 24th. UBS Group decreased their target price on shares of Marvell Technology from $110.00 to $95.00 and set a "buy" rating for the company in a research report on Friday, August 29th. Oppenheimer reiterated an "outperform" rating and issued a $95.00 target price on shares of Marvell Technology in a research report on Friday, August 29th. Melius Research increased their target price on shares of Marvell Technology from $67.00 to $76.00 and gave the company a "hold" rating in a research report on Wednesday, June 18th. Finally, Wells Fargo & Company decreased 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 report on Friday, August 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $91.17.

Insider Activity at Marvell Technology

In other news, COO Chris Koopmans acquired 6,800 shares of Marvell Technology stock in a transaction on Thursday, September 25th. The stock was bought at an average cost of $78.03 per share, with a total value of $530,604.00. Following the completion of the purchase, the chief operating officer owned 104,825 shares of the company's stock, valued at $8,179,494.75. This represents a 6.94% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Matthew J. Murphy acquired 13,600 shares of Marvell Technology stock in a transaction on Thursday, September 25th. The shares were purchased at an average cost of $77.09 per share, with a total value of $1,048,424.00. Following the completion of the purchase, the chief executive officer directly owned 268,637 shares of the company's stock, valued at approximately $20,709,226.33. This represents a 5.33% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 27,200 shares of company stock valued at $2,109,632. Corporate insiders own 0.33% of the company's stock.

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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