Zacks Research Downgrades Marvell Technology (NASDAQ:MRVL) to Hold

by · The Markets Daily

Marvell Technology (NASDAQ:MRVL – Get Free Report) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

MRVL has been the subject of a number of other research reports. Roth Capital boosted their price objective on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 3rd. Craig Hallum reaffirmed a “buy” rating and issued a $141.00 price objective on shares of Marvell Technology in a report on Wednesday, December 3rd. B. Riley reissued a “buy” rating and set a $130.00 target price (up previously from $100.00) on shares of Marvell Technology in a report on Wednesday, December 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Marvell Technology in a research report on Monday, December 29th. Finally, Cantor Fitzgerald set a $100.00 price target on shares of Marvell Technology in a research note on Tuesday, December 16th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $116.03.

Read Our Latest Analysis on MRVL

Marvell Technology Stock Performance

NASDAQ:MRVL traded down $3.38 during mid-day trading on Monday, hitting $79.67. The stock had a trading volume of 5,136,142 shares, compared to its average volume of 13,986,628. Marvell Technology has a twelve month low of $47.08 and a twelve month high of $127.48. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 2.01. The stock has a market cap of $67.57 billion, a price-to-earnings ratio of 28.02, a PEG ratio of 0.80 and a beta of 1.95. The company’s 50 day simple moving average is $87.19 and its 200 day simple moving average is $80.79.

Marvell Technology (NASDAQ:MRVL – Get Free Report) last released its quarterly earnings data on Tuesday, December 2nd. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the prior year, the company earned $0.43 earnings per share. The business’s revenue for the quarter 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 forecast that Marvell Technology will post 0.91 earnings per share for the current year.

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

Insider Activity at Marvell Technology

In related news, EVP Mark Casper sold 5,000 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $93.08, for a total transaction of $465,400.00. Following the completion of the sale, the executive vice president directly owned 19,418 shares in the company, valued at $1,807,427.44. This represents a 20.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

A number of hedge funds have recently modified their holdings of MRVL. Game Plan Financial Advisors LLC bought a new stake in Marvell Technology during the second quarter worth $27,000. Atlantic Edge Private Wealth Management LLC grew its position in Marvell Technology by 160.0% during the third 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 during the period. Kiker Wealth Management LLC increased its holdings in Marvell Technology by 374.7% during the second 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 last quarter. Nova Wealth Management Inc. increased its holdings in Marvell Technology by 3,922.2% during the third 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. Finally, Westside Investment Management Inc. grew its position in shares of Marvell Technology by 62.5% during the 2nd quarter. Westside Investment Management Inc. now owns 416 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 160 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Company Profile

(Get Free Report)

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.

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