Westpac Banking Corp Sells 13,079 Shares of Marvell Technology, Inc. $MRVL

Westpac Banking Corp lessened its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 59.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,869 shares of the semiconductor company’s stock after selling 13,079 shares during the period. Westpac Banking Corp’s holdings in Marvell Technology were worth $686,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in Marvell Technology in the first quarter valued at about $399,587,000. Goldman Sachs Group Inc. lifted its holdings in Marvell Technology by 32.3% in the first quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company’s stock valued at $1,272,117,000 after buying an additional 5,050,159 shares during the period. AQR Capital Management LLC lifted its stake in shares of 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 purchasing an additional 2,710,894 shares during the period. Nordea Investment Management AB grew its position in shares of Marvell Technology by 48.3% during the 2nd quarter. Nordea Investment Management AB now owns 7,195,669 shares of the semiconductor company’s stock worth $555,650,000 after buying an additional 2,344,245 shares during the period. Finally, DnB Asset Management AS increased its stake in Marvell Technology by 1,167.6% in the first 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 in the last quarter. 83.51% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Marvell Technology news, COO Chris Koopmans purchased 6,800 shares of Marvell Technology stock in a transaction on Thursday, September 25th. The stock was bought at an average cost of $78.03 per share, with a total value of $530,604.00. Following the transaction, the chief operating officer owned 104,825 shares of the company’s stock, valued at $8,179,494.75. This 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 hyperlink. Also, CFO Willem A. Meintjes bought 3,400 shares of Marvell Technology stock in a transaction that occurred on Thursday, September 25th. The shares were acquired at an average cost of $78.03 per share, with a total value of $265,302.00. Following the acquisition, the chief financial officer owned 132,159 shares of the company’s stock, valued at $10,312,366.77. The trade was a 2.64% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 27,200 shares of company stock valued at $2,109,632. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Wall Street Zen raised Marvell Technology from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Deutsche Bank Aktiengesellschaft boosted their price objective 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. Oppenheimer increased their target price on Marvell Technology from $95.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, October 10th. UBS Group upped their price target on Marvell Technology from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Finally, Wells Fargo & Company reduced their target price on Marvell Technology from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, August 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and an average target price of $93.06.

Marvell Technology Price Performance

Shares of MRVL stock traded down $0.59 on Monday, hitting $85.86. 1,285,135 shares of the stock traded hands, compared to its average volume of 19,114,037. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.88 and a quick ratio of 1.44. Marvell Technology, Inc. has a 52 week low of $47.08 and a 52 week high of $127.48. The firm has a 50 day simple moving average of $83.27 and a two-hundred day simple moving average of $74.71. The firm has a market cap of $74.02 billion, a price-to-earnings ratio of -659.56, a PEG 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 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 in the prior year, the company posted $0.30 EPS. The firm’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. As a group, equities research analysts predict that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology declared that its board has initiated 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 generally an indication that the company’s board of directors believes its stock is undervalued.

Marvell Technology Announces Dividend

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

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.