Corundum Group Inc. Makes New Investment in Marvell Technology, Inc. $MRVL

Corundum Group Inc. bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,792 shares of the semiconductor company’s stock, valued at approximately $216,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Taylor Frigon Capital Management LLC boosted its position in Marvell Technology by 16.5% during the second quarter. Taylor Frigon Capital Management LLC now owns 33,605 shares of the semiconductor company’s stock worth $2,601,000 after purchasing an additional 4,748 shares during the period. Westbourne Investments Inc. boosted its position in Marvell Technology by 442.4% during the second quarter. Westbourne Investments Inc. now owns 21,695 shares of the semiconductor company’s stock worth $1,679,000 after purchasing an additional 17,695 shares during the period. BOCHK Asset Management Ltd bought a new position in Marvell Technology during the second quarter worth about $1,486,000. Family Legacy Financial Solutions LLC bought a new position in Marvell Technology during the second quarter worth about $1,618,000. Finally, Siren L.L.C. boosted its position in Marvell Technology by 636.2% during the first quarter. Siren L.L.C. now owns 36,808 shares of the semiconductor company’s stock worth $2,266,000 after purchasing an additional 31,808 shares during the period. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $86.22 on Friday. The stock has a market cap of $74.33 billion, a P/E ratio of -663.23, a price-to-earnings-growth ratio of 1.06 and a beta of 1.94. The firm’s fifty day simple moving average is $74.27 and its 200 day simple moving average is $68.16. Marvell Technology, Inc. has a twelve month low of $47.08 and a twelve month high of $127.48. The company has a quick ratio of 1.44, a current ratio of 1.88 and a debt-to-equity ratio of 0.30.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results 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 firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the previous year, the business 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, research analysts predict 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 will be paid on Thursday, October 30th. Stockholders of record on Friday, October 10th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, October 10th. Marvell Technology’s payout ratio is -184.62%.

Marvell Technology announced that its Board of Directors has approved a share buyback plan on Wednesday, September 24th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MRVL. BNP Paribas upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Friday, August 29th. Wall Street Zen raised shares of Marvell Technology from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Zacks Research raised shares of Marvell Technology from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 24th. UBS Group lowered their target price on shares of Marvell Technology from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, August 29th. Finally, Jefferies Financial Group decreased their price target on shares of Marvell Technology from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, August 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.67.

Insider Activity

In other Marvell Technology news, CEO Matthew J. Murphy bought 13,600 shares of the company’s stock in a transaction dated Thursday, September 25th. The shares were purchased at an average price 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 in the company, valued at approximately $20,709,226.33. This represents a 5.33% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Willem A. Meintjes bought 3,400 shares of the company’s stock in a transaction dated Thursday, September 25th. The shares were acquired at an average price of $78.03 per share, for a total transaction of $265,302.00. Following the acquisition, the chief financial officer owned 132,159 shares in the company, valued at approximately $10,312,366.77. This represents a 2.64% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 27,200 shares of company stock worth $2,109,632. 0.19% of the stock is currently owned by corporate insiders.

Marvell Technology 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.