Marvell Technology (NASDAQ:MRVL) Trading 5.2% Higher – Here’s What Happened
by Jessica Moore · The Cerbat GemMarvell Technology, Inc. (NASDAQ:MRVL – Get Free Report) shares were up 5.2% during trading on Friday . The stock traded as high as $90.08 and last traded at $89.39. Approximately 14,671,267 shares traded hands during mid-day trading, a decline of 3% from the average daily volume of 15,115,182 shares. The stock had previously closed at $84.98.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the company. HSBC began coverage on Marvell Technology in a research report on Monday, November 24th. They issued a “hold” rating and a $85.00 price objective for the company. Roth Capital lifted their price target on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 3rd. Wells Fargo & Company upped their price target on shares of Marvell Technology from $90.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 3rd. UBS Group set a $100.00 price objective on shares of Marvell Technology in a research report on Wednesday, December 3rd. Finally, Jefferies Financial Group boosted their target price on shares of Marvell Technology from $80.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, December 3rd. Four analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus price target of $111.25.
View Our Latest Stock Report on MRVL
Marvell Technology Stock Performance
The firm’s 50-day moving average price is $87.72 and its 200 day moving average price is $80.07. The company has a market cap of $75.79 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 0.82 and a beta of 1.95. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 2.01.
Marvell Technology (NASDAQ:MRVL – Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Marvell Technology had a net margin of 31.75% and a return on equity of 13.15%. The business’s revenue for the quarter was up 36.8% on a year-over-year basis. During the same period last year, the firm earned $0.43 earnings per share. Marvell Technology has set its Q4 2026 guidance at 0.740-0.840 EPS. On average, sell-side analysts anticipate that Marvell Technology, Inc. will post 0.91 EPS for the current year.
Marvell Technology Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 29th. Shareholders of record on Friday, January 9th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, January 9th. This represents a $0.24 annualized dividend and a yield of 0.3%. Marvell Technology’s dividend payout ratio is presently 8.42%.
Marvell Technology declared that its board has authorized a stock repurchase plan on Wednesday, September 24th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy up to 7.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
Insider Activity
In other news, EVP Mark Casper sold 1,253 shares of the business’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $101.00, for a total transaction of $126,553.00. Following the completion of the transaction, the executive vice president directly owned 9,023 shares in the company, valued at approximately $911,323. The trade was a 12.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.19% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of MRVL. Game Plan Financial Advisors LLC acquired a new stake in Marvell Technology in the second quarter worth $27,000. Atlantic Edge Private Wealth Management LLC increased its position in shares of Marvell Technology by 160.0% in the 3rd quarter. Atlantic Edge Private Wealth Management LLC now owns 325 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 200 shares in the last quarter. Kiker Wealth Management LLC raised its stake in Marvell Technology by 374.7% during the 2nd quarter. Kiker Wealth Management LLC now owns 356 shares of the semiconductor company’s stock worth $28,000 after buying an additional 281 shares during the period. Nova Wealth Management Inc. raised its stake 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 period. Finally, Westside Investment Management Inc. lifted its holdings in Marvell Technology by 62.5% during the second quarter. Westside Investment Management Inc. now owns 416 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 160 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.
About Marvell Technology
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.