Swedbank AB Buys 290,119 Shares of Marvell Technology, Inc. $MRVL

Swedbank AB increased its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 8.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,805,547 shares of the semiconductor company’s stock after acquiring an additional 290,119 shares during the quarter. Swedbank AB’s holdings in Marvell Technology were worth $319,932,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MRVL. Vanguard Group Inc. grew its stake in Marvell Technology by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 64,443,232 shares of the semiconductor company’s stock worth $4,987,906,000 after acquiring an additional 673,110 shares in the last quarter. Brown Advisory Inc. grew its stake in Marvell Technology by 8.0% in the second quarter. Brown Advisory Inc. now owns 20,840,336 shares of the semiconductor company’s stock worth $1,613,044,000 after purchasing an additional 1,539,809 shares in the last quarter. State Street Corp grew its stake in Marvell Technology by 2.7% in the second quarter. State Street Corp now owns 20,573,260 shares of the semiconductor company’s stock worth $1,592,370,000 after purchasing an additional 533,946 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Marvell Technology by 16.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 10,406,875 shares of the semiconductor company’s stock worth $805,473,000 after purchasing an additional 1,464,571 shares during the period. Finally, Norges Bank bought a new stake in Marvell Technology during the 2nd quarter valued at $716,713,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on MRVL. Oppenheimer reissued an “outperform” rating and set a $150.00 price target (up previously from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 3rd. Piper Sandler set a $110.00 target price on shares of Marvell Technology in a report on Wednesday, December 3rd. B. Riley reissued a “buy” rating and set a $130.00 target price (up previously from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 3rd. Zacks Research raised shares of Marvell Technology from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 5th. Finally, Cantor Fitzgerald set a $100.00 price objective on shares of Marvell Technology in a research note on Tuesday, December 16th. Four investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $111.25.

Insider Activity

In other Marvell Technology news, CFO Willem A. Meintjes bought 3,400 shares of Marvell Technology stock in a transaction that occurred on Thursday, September 25th. The shares were bought at an average cost of $78.03 per share, with a total value of $265,302.00. Following the transaction, the chief financial officer directly owned 132,159 shares of the company’s stock, valued at approximately $10,312,366.77. This represents a 2.64% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Casper sold 1,253 shares of the stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $101.00, for a total value of $126,553.00. Following the completion of the sale, the executive vice president owned 9,023 shares of the company’s stock, valued at approximately $911,323. This trade represents a 12.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders bought 27,200 shares of company stock worth $2,109,632 over the last quarter. Company insiders own 0.33% of the company’s stock.

Marvell Technology Stock Up 3.4%

Shares of Marvell Technology stock opened at $87.68 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. The company has a market cap of $74.36 billion, a P/E ratio of 30.76, a PEG ratio of 0.82 and a beta of 1.93. The firm’s 50 day moving average price is $87.66 and its 200-day moving average price is $79.38. Marvell Technology, Inc. has a 52-week low of $47.08 and a 52-week high of $127.48.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Tuesday, December 2nd. The semiconductor company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.02. Marvell Technology had a net margin of 31.75% and a return on equity of 13.15%. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period last year, the firm earned $0.43 earnings per share. Marvell Technology’s revenue was up 36.8% compared to the same quarter last year. Marvell Technology has set its Q4 2026 guidance at 0.740-0.840 EPS. On average, sell-side analysts predict that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 29th. Investors of record on Friday, January 9th will be paid 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, January 9th. Marvell Technology’s payout ratio is 8.42%.

Marvell Technology declared that its Board of Directors has initiated a share 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 buy up to 7.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

About Marvell Technology

Marvell Technology Group is a global semiconductor company that designs and develops integrated circuits and related software for data infrastructure, networking, storage and connectivity markets. The company’s product portfolio includes system-on-chip (SoC) solutions, Ethernet physical-layer transceivers (PHYs), switch and switch silicon, optical interconnect components, storage controllers, and security processors. Marvell’s technology is used to enable high-performance data centers, carrier networks, enterprise and cloud storage, as well as connectivity in automotive and industrial applications.

Founded in 1995 and headquartered in Santa Clara, California, Marvell has grown through both organic development and strategic acquisitions to broaden its capabilities across networking and data interconnect.