DAVENPORT & Co LLC Increases Holdings in Marvell Technology, Inc. $MRVL

DAVENPORT & Co LLC boosted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 10.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 309,091 shares of the semiconductor company’s stock after purchasing an additional 28,135 shares during the period. DAVENPORT & Co LLC’s holdings in Marvell Technology were worth $23,916,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Marks Group Wealth Management Inc acquired a new stake in Marvell Technology in the second quarter valued at $201,000. Fortitude Advisory Group L.L.C. purchased a new stake in shares of Marvell Technology in the 2nd quarter worth about $459,000. Simplicity Wealth LLC acquired a new stake in Marvell Technology in the 2nd quarter valued at about $425,000. Wealthcare Advisory Partners LLC grew its stake in Marvell Technology by 95.0% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 10,368 shares of the semiconductor company’s stock valued at $802,000 after acquiring an additional 5,051 shares during the last quarter. Finally, Sava Infond d.o.o. increased its holdings in Marvell Technology by 60.0% during the 2nd quarter. Sava Infond d.o.o. now owns 144,000 shares of the semiconductor company’s stock valued at $11,146,000 after acquiring an additional 54,000 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Stock Performance

Marvell Technology stock opened at $88.92 on Tuesday. The stock has a fifty day moving average price of $74.53 and a 200 day moving average price of $68.26. Marvell Technology, Inc. has a 52 week low of $47.08 and a 52 week high of $127.48. The firm has a market capitalization of $76.66 billion, a P/E ratio of -684.00, a PEG ratio of 1.06 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.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings results on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.67. The firm had revenue of $2.01 billion for 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%.The firm’s quarterly revenue was up 57.6% on a year-over-year basis. 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. Equities research analysts anticipate that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

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

Marvell Technology Dividend Announcement

The business 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 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 (DPR) is currently -184.62%.

Insider Buying and Selling

In related news, EVP Mark Casper sold 3,000 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $72.35, for a total value of $217,050.00. Following the transaction, the executive vice president directly owned 17,163 shares of the company’s stock, valued at approximately $1,241,743.05. This trade represents a 14.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sandeep Bharathi purchased 3,400 shares of the stock in a transaction on Thursday, September 25th. The shares were 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 of the company’s stock, valued at $5,726,777.76. This trade represents a 4.86% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 27,200 shares of company stock worth $2,109,632 over the last 90 days. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MRVL shares. Oppenheimer reaffirmed an “outperform” rating and issued a $95.00 price target on shares of Marvell Technology in a report on Friday, August 29th. UBS Group lowered their target price on Marvell Technology from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, August 29th. Melius Research raised their price target on Marvell Technology from $67.00 to $76.00 and gave the stock a “hold” rating in a research report on Wednesday, June 18th. B. Riley reissued a “buy” rating and issued a $115.00 price target (up from $110.00) on shares of Marvell Technology in a report on Wednesday, June 18th. Finally, BNP Paribas raised Marvell Technology to a “strong-buy” rating in a research note on Friday, August 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $91.67.

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.