Whittier Trust Co. Increases Stake in Marvell Technology, Inc. $MRVL

Whittier Trust Co. raised its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 90.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,265 shares of the semiconductor company’s stock after buying an additional 600 shares during the quarter. Whittier Trust Co.’s holdings in Marvell Technology were worth $98,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Game Plan Financial Advisors LLC purchased a new stake in Marvell Technology during the 2nd quarter valued at approximately $27,000. Kiker Wealth Management LLC grew its holdings in shares of Marvell Technology by 374.7% in the second quarter. Kiker Wealth Management LLC now owns 356 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 281 shares in the last quarter. Hughes Financial Services LLC purchased a new position in shares of Marvell Technology in the first quarter valued at $26,000. Financial Connections Group Inc. grew its holdings 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 valued at $27,000 after purchasing an additional 388 shares in the last quarter. Finally, DiNuzzo Private Wealth Inc. grew its holdings in shares of Marvell Technology by 786.0% in the second quarter. DiNuzzo Private Wealth Inc. now owns 443 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 393 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Stock Up 1.6%

NASDAQ:MRVL opened at $84.13 on Friday. Marvell Technology, Inc. has a twelve month low of $47.08 and a twelve month high of $127.48. The company has a market cap of $72.53 billion, a price-to-earnings ratio of -647.15, a price-to-earnings-growth ratio of 1.01 and a beta of 1.94. The stock has a fifty day simple moving average of $77.13 and a 200-day simple moving average of $70.65. 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 released its earnings results on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. Marvell Technology had a positive return on equity of 11.01% and a negative net margin of 1.43%.The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period last year, the company earned $0.30 earnings per share. The business’s revenue for the quarter was up 57.6% compared to the same quarter last year. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. Analysts anticipate that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 30th. Stockholders of record on Friday, October 10th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, October 10th. Marvell Technology’s dividend payout ratio (DPR) is -184.62%.

Marvell Technology announced that its board has authorized a stock repurchase plan on Wednesday, September 24th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Benchmark reissued a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a report on Friday, August 29th. Wall Street Zen raised shares of Marvell Technology from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Evercore ISI cut their target price on shares of Marvell Technology from $133.00 to $122.00 and set an “outperform” rating for the company in a report on Friday, August 29th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Marvell Technology in a research note on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Marvell Technology from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, September 25th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $93.06.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes bought 3,400 shares of the firm’s stock in a transaction dated 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 chief financial officer owned 132,159 shares in the company, valued at $10,312,366.77. This trade represents a 2.64% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew J. Murphy bought 13,600 shares of the firm’s stock in a transaction dated Thursday, September 25th. The shares were acquired 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. The trade was a 5.33% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 27,200 shares of company stock valued at $2,109,632 in the last three months. 0.19% of the stock is owned by company insiders.

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.