Marvell Technology (NASDAQ:MRVL) CFO Acquires $265,302.00 in Stock

Key Points

• Marvell Technology CFO Willem Meintjes has purchased 3,400 shares of the company's stock for a total of $265,302.00, increasing his ownership by 2.64% to a total of 132,159 shares valued at over $10 million.
• The company has reported earnings of $0.67 per share for the last quarter, meeting analysts' expectations, while revenue has surged by 57.6% year-over-year to $2.01 billion.
• Marvell Technology announced a $5 billion stock buyback plan and declared a quarterly dividend of $0.06 per share, indicating a commitment to returning value to shareholders.

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) CFO Willem Meintjes purchased 3,400 shares of the company's stock in a transaction on Thursday, September 25th. The stock was acquired at an average price of $78.03 per share, with a total value of $265,302.00. Following the completion of the purchase, the chief financial officer directly owned 132,159 shares in the company, valued at $10,312,366.77. This trade represents a 2.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Marvell Technology Price Performance

MRVL stock traded up $2.60 during midday trading on Thursday, hitting $82.69. The company's stock had a trading volume of 28,523,021 shares, compared to its average volume of 19,484,063. Marvell Technology, Inc. has a 12 month low of $47.08 and a 12 month high of $127.48. 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 capitalization of $71.29 billion, a price-to-earnings ratio of -636.72, a price-to-earnings-growth ratio of 0.90 and a beta of 1.85. The company has a 50 day moving average of $72.74 and a two-hundred day moving average of $67.39.

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 (EPS) for the quarter, hitting the consensus estimate of $0.67. The business had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $2.01 billion. Marvell Technology had a positive return on equity of 11.01% and a negative net margin of 1.43%.The company's revenue for the quarter was up 57.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 EPS. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. On average, analysts expect that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 30th. Investors of record on Friday, October 10th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, October 10th. Marvell Technology's dividend payout ratio is presently -184.62%.

Marvell Technology announced that its board has authorized a stock buyback plan on Wednesday, September 24th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

Institutional Trading of Marvell Technology

Institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Marvell Technology in the 2nd quarter valued at $716,713,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Marvell Technology by 4,758.5% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,036,216 shares of the semiconductor company's stock worth $544,603,000 after purchasing an additional 6,891,393 shares during the period. Nuveen LLC purchased a new stake in Marvell Technology during the 1st quarter worth about $399,587,000. Goldman Sachs Group Inc. increased its holdings in 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 worth $1,272,117,000 after purchasing an additional 5,050,159 shares during the period. Finally, Amundi increased its holdings in Marvell Technology by 113.4% during the 2nd quarter. Amundi now owns 8,648,350 shares of the semiconductor company's stock worth $642,140,000 after purchasing an additional 4,596,309 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on MRVL. Melius Research upped their price objective on Marvell Technology from $67.00 to $76.00 and gave the company a "hold" rating in a research report on Wednesday, June 18th. JPMorgan Chase & Co. cut their price target on Marvell Technology from $130.00 to $120.00 and set an "overweight" rating on the stock in a research note on Friday, August 29th. Bank of America restated a "neutral" rating and set a $78.00 price target (down previously from $90.00) on shares of Marvell Technology in a research note on Friday, August 29th. KeyCorp dropped their price objective on Marvell Technology from $115.00 to $90.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $95.00 price objective on shares of Marvell Technology in a research report on Friday, August 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.17.

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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