Marvell Technology (NASDAQ:MRVL) Shares Up 3.4% on Analyst Upgrade

Marvell Technology, Inc. (NASDAQ:MRVL)’s share price was up 3.4% during mid-day trading on Wednesday after The Goldman Sachs Group raised their price target on the stock from $72.00 to $80.00. The Goldman Sachs Group currently has a neutral rating on the stock. Marvell Technology traded as high as $81.89 and last traded at $81.32. Approximately 13,406,289 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 19,180,006 shares. The stock had previously closed at $78.68.

A number of other equities research analysts have also recently commented on the stock. Wall Street Zen upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Roth Capital restated a “buy” rating on shares of Marvell Technology in a research note on Wednesday, October 15th. TD Cowen reaffirmed a “hold” rating and set a $85.00 price objective (down from $90.00) on shares of Marvell Technology in a research report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on Marvell Technology from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, September 25th. Finally, Summit Redstone set a $105.00 target price on Marvell Technology in a research report on Wednesday, October 15th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.23.

Insider Buying and Selling at Marvell Technology

In related news, CEO Matthew J. Murphy bought 13,600 shares of the stock in a transaction that occurred on Thursday, September 25th. The shares were bought at an average cost of $77.09 per share, for a total transaction of $1,048,424.00. Following the completion of the transaction, the chief executive officer owned 268,637 shares of the company’s stock, valued at approximately $20,709,226.33. This trade represents a 5.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sandeep Bharathi purchased 3,400 shares of Marvell Technology stock in a transaction on Thursday, September 25th. The stock was bought at an average price of $78.03 per share, with a total value of $265,302.00. Following the transaction, the insider owned 73,392 shares of the company’s stock, valued at approximately $5,726,777.76. This represents a 4.86% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders bought 27,200 shares of company stock worth $2,109,632. 0.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Atlantic Edge Private Wealth Management LLC lifted its stake in Marvell Technology by 160.0% in the third quarter. Atlantic Edge Private Wealth Management LLC now owns 325 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 200 shares during the last quarter. Game Plan Financial Advisors LLC acquired a new stake in shares of Marvell Technology in the second quarter valued at approximately $27,000. Kiker Wealth Management LLC raised its position in Marvell Technology by 374.7% in the second quarter. Kiker Wealth Management LLC now owns 356 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 281 shares during the period. Nova Wealth Management Inc. boosted its holdings 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 valued at $30,000 after acquiring an additional 353 shares during the period. Finally, N.E.W. Advisory Services LLC purchased a new stake in Marvell Technology during the 2nd quarter worth about $32,000. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Trading Up 3.4%

The firm has a market cap of $70.11 billion, a PE ratio of -625.54, a P/E/G ratio of 1.10 and a beta of 1.95. The company has a current ratio of 1.88, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average price of $83.86 and a 200 day moving average price of $74.99.

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

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 30th. Investors of record on Friday, October 10th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Friday, October 10th. Marvell Technology’s dividend payout ratio is presently -184.62%.

Marvell Technology announced that its Board of Directors has initiated a stock repurchase 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 shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.