Marvell Technology (NASDAQ:MRVL) Downgraded to Hold Rating by Zacks Research

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

Several other equities research analysts have also recently commented on MRVL. Stifel Nicolaus boosted their price target on shares of Marvell Technology from $95.00 to $114.00 and gave the stock a “buy” rating in a research note on Wednesday, December 3rd. UBS Group set a $100.00 target price on shares of Marvell Technology in a research report on Wednesday, December 3rd. Deutsche Bank Aktiengesellschaft raised 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. Weiss Ratings restated a “hold (c)” rating on shares of Marvell Technology in a report on Monday, December 29th. Finally, Melius raised shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $135.00 price objective on the stock in a research note on Monday, January 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $116.03.

Marvell Technology Trading Up 0.2%

Shares of NASDAQ MRVL opened at $83.05 on Monday. Marvell Technology has a 1-year low of $47.08 and a 1-year high of $127.48. The company has a 50-day moving average of $87.19 and a two-hundred day moving average of $80.79. The company has a market cap of $70.43 billion, a PE ratio of 29.14, a P/E/G ratio of 0.80 and a beta of 1.95. The company has a current ratio of 2.01, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings data 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. The firm had revenue of $2.07 billion during 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%. Marvell Technology’s revenue was up 36.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.43 EPS. Marvell Technology has set its Q4 2026 guidance at 0.740-0.840 EPS. As a group, equities analysts expect that Marvell Technology will post 0.91 earnings per share for the current fiscal year.

Marvell Technology announced that its board has initiated a stock buyback plan on Wednesday, September 24th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to reacquire up to 7.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, EVP Mark Casper sold 5,000 shares of Marvell Technology stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $93.08, for a total value of $465,400.00. Following the sale, the executive vice president owned 19,418 shares of the company’s stock, valued at approximately $1,807,427.44. This trade represents a 20.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Several hedge funds have recently made changes to their positions in MRVL. Ellsworth Advisors LLC bought a new position in Marvell Technology in the third quarter valued at $5,864,000. Taylor Frigon Capital Management LLC boosted its stake in shares of Marvell Technology by 16.5% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 33,605 shares of the semiconductor company’s stock worth $2,601,000 after buying an additional 4,748 shares during the last quarter. Waterfront Wealth Inc. grew its holdings in shares of Marvell Technology by 21.5% in the 2nd quarter. Waterfront Wealth Inc. now owns 18,394 shares of the semiconductor company’s stock valued at $1,424,000 after acquiring an additional 3,258 shares in the last quarter. BOCHK Asset Management Ltd acquired a new stake in shares of Marvell Technology in the second quarter valued at about $1,486,000. Finally, Westbourne Investments Inc. raised its holdings 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 acquiring an additional 17,695 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

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.