Huntington National Bank Sells 563 Shares of Marvell Technology, Inc. $MRVL

Huntington National Bank lowered its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 23.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,831 shares of the semiconductor company’s stock after selling 563 shares during the period. Huntington National Bank’s holdings in Marvell Technology were worth $142,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Nuveen LLC acquired a new position in shares of Marvell Technology during the first quarter valued at about $399,587,000. Goldman Sachs Group Inc. raised its holdings in shares of Marvell Technology by 32.3% in 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 lifted its position in Marvell Technology by 662.9% in 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 acquiring an additional 2,710,894 shares in the last quarter. Nordea Investment Management AB lifted 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 boosted its stake in Marvell Technology by 1,167.6% during the 1st quarter. DnB Asset Management AS now owns 2,015,860 shares of the semiconductor company’s stock valued at $124,116,000 after purchasing an additional 1,856,833 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In related news, COO Chris Koopmans acquired 6,800 shares of the firm’s stock in a transaction that occurred on Thursday, September 25th. The shares were bought at an average cost of $78.03 per share, for a total transaction of $530,604.00. Following the purchase, the chief operating officer owned 104,825 shares in the company, valued at $8,179,494.75. This trade represents a 6.94% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew J. Murphy purchased 13,600 shares of the stock in a transaction dated Thursday, September 25th. The stock was 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 of the company’s stock, valued at approximately $20,709,226.33. This represents a 5.33% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 27,200 shares of company stock valued at $2,109,632 over the last 90 days. 0.19% of the stock is currently owned by corporate insiders.

Marvell Technology Trading Down 2.6%

NASDAQ:MRVL opened at $90.92 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $78.38 billion, a PE ratio of -699.38, a price-to-earnings-growth ratio of 1.10 and a beta of 1.95. The firm’s 50 day moving average is $80.70 and its 200 day moving average is $73.33. Marvell Technology, Inc. has a 12 month low of $47.08 and a 12 month high of $127.48.

Marvell Technology (NASDAQ:MRVL) last issued 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. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Marvell Technology had a positive return on equity of 11.01% and a negative net margin of 1.43%.During the same quarter in the prior year, the firm earned $0.30 EPS. 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. Sell-side analysts expect that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology announced that its board has authorized a share buyback program on Wednesday, September 24th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 7.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Marvell Technology Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MRVL shares. Roth Capital reiterated a “buy” rating on shares of Marvell Technology in a report on Wednesday, October 15th. Wells Fargo & Company cut their price objective on shares of Marvell Technology from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, August 29th. Barclays reiterated an “equal weight” rating and issued a $80.00 target price on shares of Marvell Technology in a research note on Monday, October 20th. Summit Redstone set a $105.00 price target on shares of Marvell Technology in a research report on Wednesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Marvell Technology from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, September 25th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.06.

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.