Marvell Technology (NASDAQ:MRVL) Shares Down 3.1% – Here’s What Happened

Marvell Technology, Inc. (NASDAQ:MRVL) was down 3.1% on Tuesday . The stock traded as low as $87.22 and last traded at $87.59. Approximately 13,217,135 shares were traded during trading, a decline of 31% from the average daily volume of 19,260,953 shares. The stock had previously closed at $90.37.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MRVL shares. UBS Group upped their price objective on Marvell Technology from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Morgan Stanley decreased their price target on Marvell Technology from $80.00 to $76.00 and set an “equal weight” rating on the stock in a report on Friday, August 29th. JPMorgan Chase & Co. dropped their price objective on shares of Marvell Technology from $130.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, August 29th. Benchmark reiterated a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research report on Friday, August 29th. Finally, Bank of America restated a “neutral” rating and issued a $78.00 target price (down previously from $90.00) on shares of Marvell Technology in a report on Friday, August 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $93.06.

Marvell Technology Trading Down 3.1%

The stock’s fifty day moving average price is $79.19 and its 200 day moving average price is $72.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.88 and a quick ratio of 1.44. The stock has a market capitalization of $75.51 billion, a P/E ratio of -673.77, a PEG ratio of 1.10 and a beta of 1.94.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.67. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.01 billion. Marvell Technology had a negative net margin of 1.43% and a positive return on equity of 11.01%. The firm’s revenue for the quarter was up 57.6% on a year-over-year basis. During the same quarter last year, the business posted $0.30 EPS. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. Research analysts forecast that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 30th. Investors of record on Friday, October 10th were issued a $0.06 dividend. The ex-dividend date was Friday, October 10th. This represents a $0.24 dividend on an annualized basis 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 authorized a stock buyback program on Wednesday, September 24th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 7.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Marvell Technology

In other news, COO Chris Koopmans acquired 6,800 shares of the firm’s stock in a transaction that occurred on Thursday, September 25th. The stock was purchased at an average cost of $78.03 per share, for a total transaction of $530,604.00. Following the completion of the acquisition, the chief operating officer directly owned 104,825 shares of the company’s stock, valued at $8,179,494.75. The trade was a 6.94% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew J. Murphy bought 13,600 shares of the company’s stock in a transaction on Thursday, September 25th. The shares were acquired at an average price of $77.09 per share, for a total transaction of $1,048,424.00. Following the completion of the acquisition, the chief executive officer owned 268,637 shares in the company, valued at $20,709,226.33. This represents a 5.33% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have bought 27,200 shares of company stock worth $2,109,632. Corporate insiders own 0.19% of the company’s stock.

Institutional Trading of Marvell Technology

Several hedge funds and other institutional investors have recently bought and sold shares of MRVL. Norges Bank purchased a new stake in shares of Marvell Technology during the 2nd quarter worth $716,713,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Marvell Technology by 4,758.5% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,036,216 shares of the semiconductor company’s stock worth $544,603,000 after purchasing an additional 6,891,393 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Marvell Technology during the first quarter valued at about $399,587,000. Goldman Sachs Group Inc. lifted its position 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 valued at $1,272,117,000 after buying an additional 5,050,159 shares during the last quarter. Finally, Amundi boosted its holdings in shares of Marvell Technology by 113.4% in the 2nd quarter. Amundi now owns 8,648,350 shares of the semiconductor company’s stock valued at $642,140,000 after buying an additional 4,596,309 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

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.