Smith Group Asset Management LLC Acquires 8,001 Shares of Marvell Technology, Inc. $MRVL

Smith Group Asset Management LLC increased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 2.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 371,482 shares of the semiconductor company’s stock after acquiring an additional 8,001 shares during the period. Marvell Technology makes up 1.9% of Smith Group Asset Management LLC’s investment portfolio, making the stock its 24th largest holding. Smith Group Asset Management LLC’s holdings in Marvell Technology were worth $28,753,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Hughes Financial Services LLC bought a new stake in Marvell Technology during the first quarter worth about $26,000. Rossby Financial LCC bought a new position in shares of Marvell Technology in the first quarter worth approximately $27,000. Financial Connections Group Inc. lifted its stake in shares of Marvell Technology by 776.0% in the first quarter. Financial Connections Group Inc. now owns 438 shares of the semiconductor company’s stock worth $27,000 after buying an additional 388 shares in the last quarter. Game Plan Financial Advisors LLC bought a new position in shares of Marvell Technology in the second quarter worth approximately $27,000. Finally, Vision Financial Markets LLC bought a new position in shares of Marvell Technology in the first quarter worth approximately $28,000. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Up 2.1%

Shares of MRVL stock opened at $82.77 on Friday. Marvell Technology, Inc. has a 12 month low of $47.08 and a 12 month high of $127.48. The stock has a market cap of $71.36 billion, a P/E ratio of -636.69, a P/E/G ratio of 0.99 and a beta of 1.94. The company has a current ratio of 1.88, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30. The company has a 50 day simple moving average of $76.97 and a two-hundred day simple moving average of $70.41.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results 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 business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the company earned $0.30 earnings per share. The firm’s 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. On average, research analysts expect that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology declared that its Board of Directors has authorized a share buyback program on Wednesday, September 24th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the semiconductor company to buy up to 7.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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

Insider Activity

In other news, insider Sandeep Bharathi purchased 3,400 shares of the company’s stock in a transaction on Thursday, September 25th. The stock was acquired at an average cost of $78.03 per share, for a total transaction of $265,302.00. Following the completion of the transaction, the insider directly owned 73,392 shares in the company, valued at $5,726,777.76. This trade represents a 4.86% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Matthew J. Murphy purchased 13,600 shares of the company’s stock in a transaction on Thursday, September 25th. The stock was purchased at an average price of $77.09 per share, with a total value of $1,048,424.00. Following the completion of the transaction, the chief executive officer owned 268,637 shares of the company’s stock, valued at approximately $20,709,226.33. This trade represents a 5.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 27,200 shares of company stock valued at $2,109,632. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MRVL shares. Rosenblatt Securities dropped their target price on shares of Marvell Technology from $124.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, August 29th. Morgan Stanley dropped their target price on shares of Marvell Technology from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Friday, August 29th. TD Cowen reissued a “hold” rating and set a $85.00 price objective (down from $90.00) on shares of Marvell Technology in a report on Wednesday, October 1st. BNP Paribas raised shares of Marvell Technology to a “strong-buy” rating in a report on Friday, August 29th. Finally, Benchmark reissued a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a report on Friday, August 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $93.06.

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.