Baker Avenue Asset Management LP Buys 13,515 Shares of Marvell Technology, Inc. $MRVL

Baker Avenue Asset Management LP boosted its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 6.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,356 shares of the semiconductor company’s stock after purchasing an additional 13,515 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Marvell Technology were worth $16,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. California Public Employees Retirement System increased its holdings in shares of Marvell Technology by 6.2% in the 2nd quarter. California Public Employees Retirement System now owns 1,434,636 shares of the semiconductor company’s stock worth $111,041,000 after buying an additional 84,064 shares during the last quarter. Cary Street Partners Financial LLC purchased a new position in Marvell Technology in the second quarter worth $231,000. Cerity Partners LLC increased its stake in Marvell Technology by 2.3% in the second quarter. Cerity Partners LLC now owns 101,042 shares of the semiconductor company’s stock valued at $7,821,000 after acquiring an additional 2,291 shares during the last quarter. Daner Wealth Management LLC purchased a new stake in Marvell Technology during the second quarter valued at about $238,000. Finally, Cary Street Partners Investment Advisory LLC purchased a new stake in Marvell Technology during the second quarter valued at about $34,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Performance

Marvell Technology stock opened at $98.91 on Monday. The company has a current ratio of 2.01, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average of $87.75 and a 200-day moving average of $77.40. The firm has a market cap of $83.89 billion, a P/E ratio of 34.71, a P/E/G ratio of 0.96 and a beta of 1.93. Marvell Technology, Inc. has a 1-year low of $47.08 and a 1-year high of $127.48.

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

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 30th. Investors of record on Friday, October 10th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Friday, October 10th. Marvell Technology’s dividend payout ratio is currently 8.42%.

Marvell Technology announced that its Board of Directors has approved a stock buyback program on Wednesday, September 24th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MRVL shares. Bank of America reiterated a “neutral” rating and issued a $78.00 price objective (down from $90.00) on shares of Marvell Technology in a report on Friday, August 29th. Evercore ISI boosted their target price on Marvell Technology from $122.00 to $156.00 and gave the stock an “outperform” rating in a research report on Wednesday. Morgan Stanley set a $112.00 target price on Marvell Technology in a research note on Wednesday. Hsbc Global Res raised shares of Marvell Technology to a “hold” rating in a research note on Monday, November 24th. Finally, HSBC started coverage on shares of Marvell Technology in a report on Monday, November 24th. They issued a “hold” rating and a $85.00 price objective for the company. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $111.56.

Insiders Place Their Bets

In related news, CEO Matthew J. Murphy acquired 13,600 shares of the firm’s stock in a transaction on Thursday, September 25th. The stock was acquired at an average cost of $77.09 per share, for a total transaction of $1,048,424.00. Following the acquisition, the chief executive officer owned 268,637 shares of the company’s stock, valued at $20,709,226.33. This trade represents a 5.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sandeep Bharathi bought 3,400 shares of the business’s stock in a transaction dated Thursday, September 25th. The shares were bought at an average cost of $78.03 per share, for a total transaction of $265,302.00. Following the purchase, the insider directly owned 73,392 shares in the company, valued at approximately $5,726,777.76. This represents a 4.86% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders purchased 27,200 shares of company stock worth $2,109,632. Insiders own 0.33% of the company’s stock.

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.