Primecap Management Co. CA Purchases 999,105 Shares of Marvell Technology, Inc. $MRVL

Primecap Management Co. CA lifted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 46.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,163,835 shares of the semiconductor company’s stock after acquiring an additional 999,105 shares during the quarter. Primecap Management Co. CA owned approximately 0.37% of Marvell Technology worth $244,881,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Nuveen LLC bought a new stake in shares of Marvell Technology during the first quarter worth $399,587,000. Goldman Sachs Group Inc. grew 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 acquiring an additional 5,050,159 shares during the last quarter. AQR Capital Management LLC grew its holdings in Marvell Technology by 662.9% during the 1st quarter. AQR Capital Management LLC now owns 3,119,855 shares of the semiconductor company’s stock worth $187,566,000 after acquiring an additional 2,710,894 shares during the last quarter. Nordea Investment Management AB increased its position in Marvell Technology by 48.3% in the 2nd quarter. Nordea Investment Management AB now owns 7,195,669 shares of the semiconductor company’s stock valued at $555,650,000 after acquiring an additional 2,344,245 shares in the last quarter. Finally, DnB Asset Management AS raised its stake in shares of Marvell Technology by 1,167.6% in the first quarter. DnB Asset Management AS now owns 2,015,860 shares of the semiconductor company’s stock worth $124,116,000 after acquiring an additional 1,856,833 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Trading Down 5.7%

NASDAQ:MRVL opened at $78.68 on Wednesday. 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 1-year low of $47.08 and a 1-year high of $127.48. The firm has a market capitalization of $67.83 billion, a price-to-earnings ratio of -605.23, a PEG ratio of 1.10 and a beta of 1.95. The business’s 50-day moving average price is $83.86 and its two-hundred day moving average price is $74.99.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly 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 positive return on equity of 11.01% and a negative net margin of 1.43%.The company 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 business posted $0.30 EPS. Marvell Technology’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, equities analysts expect 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 stock 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 shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 30th. Investors of record on Friday, October 10th were given a $0.06 dividend. The ex-dividend date was Friday, October 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. Marvell Technology’s dividend payout ratio is currently -184.62%.

Insiders Place Their Bets

In other Marvell Technology news, CEO Matthew J. Murphy bought 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, for a total transaction of $1,048,424.00. Following the completion of the acquisition, the chief executive officer owned 268,637 shares in the company, valued at approximately $20,709,226.33. The trade was a 5.33% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Willem A. Meintjes bought 3,400 shares of the firm’s stock in a transaction on Thursday, September 25th. The stock was acquired at an average cost of $78.03 per share, with a total value of $265,302.00. Following the completion of the purchase, the chief financial officer owned 132,159 shares of the company’s stock, valued at approximately $10,312,366.77. This trade represents a 2.64% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders acquired 27,200 shares of company stock worth $2,109,632. 0.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on MRVL. Weiss Ratings reissued a “hold (c-)” rating on shares of Marvell Technology in a research note on Wednesday, October 8th. Needham & Company LLC lifted their target price on Marvell Technology from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, September 25th. Summit Redstone set a $105.00 price target on Marvell Technology in a research note on Wednesday, October 15th. Cowen lowered Marvell Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Finally, Zacks Research upgraded shares of Marvell Technology from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $93.23.

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.