AlTi Global Inc. bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,684 shares of the semiconductor company’s stock, valued at approximately $285,000.
Several other hedge funds have also recently bought and sold shares of MRVL. Nuveen LLC acquired a new position in Marvell Technology during the first quarter worth $399,587,000. Goldman Sachs Group Inc. increased its position in Marvell Technology by 32.3% during the first quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company’s stock worth $1,272,117,000 after buying an additional 5,050,159 shares during the last quarter. Impax Asset Management Group plc increased its position in Marvell Technology by 748.3% during the first quarter. Impax Asset Management Group plc now owns 3,700,841 shares of the semiconductor company’s stock worth $227,033,000 after buying an additional 3,264,557 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Marvell Technology by 662.9% in the first quarter. AQR Capital Management LLC now owns 3,119,855 shares of the semiconductor company’s stock valued at $187,566,000 after purchasing an additional 2,710,894 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in shares of Marvell Technology by 48.3% in the second quarter. Nordea Investment Management AB now owns 7,195,669 shares of the semiconductor company’s stock valued at $555,650,000 after purchasing an additional 2,344,245 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, CEO Matthew J. Murphy bought 13,600 shares of the business’s stock in a transaction dated Thursday, September 25th. The stock was bought at an average price of $77.09 per share, for a total transaction of $1,048,424.00. Following the completion of the purchase, the chief executive officer owned 268,637 shares of the company’s stock, valued at approximately $20,709,226.33. The trade was a 5.33% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sandeep Bharathi bought 3,400 shares of the business’s stock in a transaction dated Thursday, September 25th. The stock was purchased at an average price of $78.03 per share, with a total value of $265,302.00. Following the purchase, the insider directly 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 disclosure for this purchase can be found here. Over the last three months, insiders have purchased 27,200 shares of company stock worth $2,109,632. 0.19% of the stock is currently owned by insiders.
Marvell Technology Stock Up 1.6%
Shares of MRVL opened at $84.13 on Friday. The stock has a market cap of $72.53 billion, a price-to-earnings ratio of -647.15, a P/E/G ratio of 1.03 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 company has a 50-day moving average price of $77.13 and a two-hundred day moving average price of $70.79.
Marvell Technology (NASDAQ:MRVL – Get Free Report) last announced its quarterly earnings results on Thursday, August 28th. The semiconductor company reported $0.67 EPS for the quarter, hitting analysts’ consensus estimates of $0.67. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Marvell Technology had a negative net margin of 1.43% and a positive return on equity of 11.01%. The company’s revenue for the quarter was up 57.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.30 earnings per share. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. Equities analysts predict that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.
Marvell Technology declared that its board has initiated a share repurchase plan on Wednesday, September 24th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire up to 7.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
Marvell Technology Dividend Announcement
The firm also recently declared 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 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 (DPR) is currently -184.62%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on MRVL shares. UBS Group raised their price target on Marvell Technology from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Wells Fargo & Company lowered their price target on Marvell Technology from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, August 29th. Roth Capital reaffirmed a “buy” rating on shares of Marvell Technology in a research report on Wednesday, October 15th. The Goldman Sachs Group assumed coverage on Marvell Technology in a research report on Thursday, July 10th. They issued a “neutral” rating and a $75.00 price target on the stock. Finally, Evercore ISI reduced their target price on shares of Marvell Technology from $133.00 to $122.00 and set an “outperform” rating for the company in a research note on Friday, August 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $93.06.
Get Our Latest Research Report on Marvell Technology
About Marvell Technology
(Free Report)
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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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).
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