Capital Investment Counsel Inc Purchases 44,607 Shares of Marvell Technology, Inc. $MRVL

Capital Investment Counsel Inc increased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 236.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 63,490 shares of the semiconductor company’s stock after buying an additional 44,607 shares during the quarter. Marvell Technology makes up 0.7% of Capital Investment Counsel Inc’s investment portfolio, making the stock its 29th largest holding. Capital Investment Counsel Inc’s holdings in Marvell Technology were worth $4,914,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen LLC acquired a new stake in shares of Marvell Technology in the first quarter valued at about $399,587,000. Goldman Sachs Group Inc. boosted its stake 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 valued at $1,272,117,000 after purchasing an additional 5,050,159 shares during the period. AQR Capital Management LLC boosted its stake 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 valued at $187,566,000 after purchasing an additional 2,710,894 shares during the period. Nordea Investment Management AB grew its holdings 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 buying an additional 2,344,245 shares during the last quarter. Finally, DnB Asset Management AS increased its position in Marvell Technology by 1,167.6% in the 1st quarter. DnB Asset Management AS now owns 2,015,860 shares of the semiconductor company’s stock worth $124,116,000 after buying an additional 1,856,833 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Price Performance

Shares of Marvell Technology stock opened at $89.33 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.44 and a current ratio of 1.88. The firm’s 50-day simple moving average is $82.34 and its 200-day simple moving average is $74.20. Marvell Technology, Inc. has a twelve month low of $47.08 and a twelve month high of $127.48. The firm has a market cap of $77.01 billion, a P/E ratio of -687.15, a price-to-earnings-growth ratio of 1.10 and a beta of 1.95.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.67. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 57.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.30 earnings per share. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. As a group, research analysts expect that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Announces Dividend

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

Marvell Technology declared that its board has approved a share buyback plan on Wednesday, September 24th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have recently weighed in on MRVL. Zacks Research raised Marvell Technology from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 24th. Jefferies Financial Group cut their target price on shares of Marvell Technology from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, August 29th. Wall Street Zen upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Morgan Stanley cut their price objective on shares of Marvell Technology from $80.00 to $76.00 and set an “equal weight” rating for the company in a research report on Friday, August 29th. Finally, Benchmark reiterated a “buy” rating and issued a $95.00 target price on shares of Marvell Technology 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 thirteen have given a Hold rating to the stock. According to data from MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and an average target price of $93.06.

Insider Buying and Selling

In related news, CFO Willem A. Meintjes 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, for a total transaction of $265,302.00. Following the completion of the transaction, the chief financial officer directly owned 132,159 shares of the company’s stock, valued at approximately $10,312,366.77. The trade was a 2.64% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sandeep Bharathi acquired 3,400 shares of the business’s stock in a transaction 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 completion of the acquisition, the insider owned 73,392 shares of the company’s stock, valued at approximately $5,726,777.76. This trade represents a 4.86% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have bought 27,200 shares of company stock valued at $2,109,632. 0.33% of the stock is currently owned by insiders.

Marvell Technology Company Profile

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.