Congress Asset Management Co. Cuts Stock Position in Marvell Technology, Inc. $MRVL

Congress Asset Management Co. cut its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 65.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,235 shares of the semiconductor company’s stock after selling 10,090 shares during the period. Congress Asset Management Co.’s holdings in Marvell Technology were worth $440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Game Plan Financial Advisors LLC acquired a new stake in shares of Marvell Technology in the second quarter valued at approximately $27,000. Kiker Wealth Management LLC boosted its stake in shares of Marvell Technology by 374.7% in the 2nd quarter. Kiker Wealth Management LLC now owns 356 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 281 shares during the period. Nova Wealth Management Inc. lifted its holdings in Marvell Technology by 3,922.2% during the 3rd quarter. Nova Wealth Management Inc. now owns 362 shares of the semiconductor company’s stock worth $30,000 after buying an additional 353 shares during the last quarter. Westside Investment Management Inc. lifted its holdings in shares of Marvell Technology by 62.5% in the 2nd quarter. Westside Investment Management Inc. now owns 416 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 160 shares during the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of Marvell Technology during the second quarter worth about $32,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Stock Performance

MRVL opened at $87.68 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. The stock has a market cap of $74.36 billion, a price-to-earnings ratio of 30.76, a PEG ratio of 0.82 and a beta of 1.93. The business has a 50 day moving average of $87.66 and a 200-day moving average of $79.38. Marvell Technology, Inc. has a 12-month low of $47.08 and a 12-month high of $127.48.

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

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

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 29th. Investors of record on Friday, January 9th will be given a $0.06 dividend. The ex-dividend date is Friday, January 9th. This represents a $0.24 annualized dividend and a yield of 0.3%. Marvell Technology’s payout ratio is 8.42%.

Insider Transactions at Marvell Technology

In other Marvell Technology news, COO Chris Koopmans acquired 6,800 shares of Marvell Technology stock in a transaction that occurred on Thursday, September 25th. The stock was bought at an average cost of $78.03 per share, for a total transaction of $530,604.00. Following the acquisition, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Sandeep Bharathi bought 3,400 shares of Marvell Technology stock in a transaction 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 completion of the acquisition, the insider owned 73,392 shares of the company’s stock, valued at $5,726,777.76. The trade was a 4.86% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have bought 27,200 shares of company stock valued at $2,109,632. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Citigroup reiterated a “buy” rating on shares of Marvell Technology in a research report on Monday. KeyCorp increased their price objective on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, December 3rd. Deutsche Bank Aktiengesellschaft increased their price target on Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 3rd. Morgan Stanley set a $112.00 target price on shares of Marvell Technology in a report on Wednesday, December 3rd. Finally, Needham & Company LLC raised their price target on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, December 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $111.25.

Marvell Technology Profile

Marvell Technology Group is a global semiconductor company that designs and develops integrated circuits and related software for data infrastructure, networking, storage and connectivity markets. The company’s product portfolio includes system-on-chip (SoC) solutions, Ethernet physical-layer transceivers (PHYs), switch and switch silicon, optical interconnect components, storage controllers, and security processors. Marvell’s technology is used to enable high-performance data centers, carrier networks, enterprise and cloud storage, as well as connectivity in automotive and industrial applications.

Founded in 1995 and headquartered in Santa Clara, California, Marvell has grown through both organic development and strategic acquisitions to broaden its capabilities across networking and data interconnect.