Citizens Business Bank Sells 1,191 Shares of Marvell Technology, Inc. $MRVL

Citizens Business Bank lessened its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,919 shares of the semiconductor company’s stock after selling 1,191 shares during the period. Citizens Business Bank’s holdings in Marvell Technology were worth $3,322,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of MRVL. Vanguard Group Inc. raised its holdings in shares of Marvell Technology by 1.9% during the first quarter. Vanguard Group Inc. now owns 63,770,122 shares of the semiconductor company’s stock worth $3,926,326,000 after acquiring an additional 1,212,338 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Marvell Technology by 32.3% during the first 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 period. Brown Advisory Inc. raised its holdings in shares of Marvell Technology by 2.2% during the first quarter. Brown Advisory Inc. now owns 19,300,527 shares of the semiconductor company’s stock worth $1,188,333,000 after acquiring an additional 423,892 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Marvell Technology by 2.6% during the first quarter. Ameriprise Financial Inc. now owns 8,942,304 shares of the semiconductor company’s stock worth $562,991,000 after acquiring an additional 227,555 shares during the period. Finally, Pictet Asset Management Holding SA raised its holdings in shares of Marvell Technology by 6.7% during the first quarter. Pictet Asset Management Holding SA now owns 7,776,196 shares of the semiconductor company’s stock worth $478,794,000 after acquiring an additional 488,610 shares during the period. Institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MRVL. Roth Capital restated a “buy” rating on shares of Marvell Technology in a report on Wednesday. Cantor Fitzgerald restated a “neutral” rating and set a $75.00 price objective on shares of Marvell Technology in a report on Friday, August 29th. Summit Redstone set a $105.00 price objective on shares of Marvell Technology in a report on Wednesday. Zacks Research upgraded shares of Marvell Technology from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 24th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Marvell Technology from $130.00 to $120.00 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-two have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus price target of $93.06.

Marvell Technology Stock Performance

Shares of MRVL opened at $87.95 on Friday. The firm has a 50-day moving average of $76.56 and a 200-day moving average of $69.62. Marvell Technology, Inc. has a one year low of $47.08 and a one year high of $127.48. The company has a market cap of $75.82 billion, a PE ratio of -676.54, a price-to-earnings-growth ratio of 1.08 and a beta of 1.94. 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 (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, August 28th. The semiconductor company reported $0.67 EPS for the quarter, meeting analysts’ consensus estimates of $0.67. Marvell Technology had a negative net margin of 1.43% and a positive return on equity of 11.01%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter last year, the firm posted $0.30 EPS. The company’s quarterly revenue was up 57.6% on a year-over-year basis. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. As a group, equities analysts forecast that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Announces Dividend

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

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

Insider Activity at Marvell Technology

In related news, CFO Willem A. Meintjes bought 3,400 shares of Marvell Technology stock in a transaction that occurred on Thursday, September 25th. The stock was acquired at an average price 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 approximately $10,312,366.77. This represents a 2.64% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Chris Koopmans bought 6,800 shares of Marvell Technology stock in a transaction that occurred on Thursday, September 25th. The shares were bought at an average cost of $78.03 per share, with a total value of $530,604.00. Following the acquisition, the chief operating officer directly owned 104,825 shares in the company, valued at $8,179,494.75. This trade represents a 6.94% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 27,200 shares of company stock worth $2,109,632. 0.19% of the stock is currently owned by corporate 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.