Marvell Technology (NASDAQ:MRVL) Shares Up 3.4% – Time to Buy?

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) rose 3.4% on Thursday . The company traded as high as $85.03 and last traded at $84.47. Approximately 12,623,067 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 19,381,414 shares. The stock had previously closed at $81.70.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MRVL. Summit Insights raised Marvell Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, December 3rd. Raymond James Financial started coverage on shares of Marvell Technology in a report on Thursday, November 20th. They set a “strong-buy” rating and a $121.00 target price for the company. Wells Fargo & Company upped their price target on shares of Marvell Technology from $90.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 3rd. Barclays increased their price target on shares of Marvell Technology from $80.00 to $105.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 3rd. Finally, B. Riley restated a “buy” rating and set a $130.00 price objective (up from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 3rd. Four analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.25.

Marvell Technology Stock Up 3.4%

The firm’s 50 day moving average is $87.87 and its 200-day moving average is $78.70. The firm has a market cap of $71.64 billion, a PE ratio of 29.64, a P/E/G ratio of 0.82 and a beta of 1.93. The company has a quick ratio of 1.64, a current ratio of 2.01 and a debt-to-equity ratio of 0.28.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings results on Tuesday, December 2nd. The semiconductor company reported $0.76 earnings per share 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 company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the previous year, the firm posted $0.43 EPS. Marvell Technology’s revenue was up 36.8% on a year-over-year basis. Marvell Technology has set its Q4 2026 guidance at 0.740-0.840 EPS. As a group, equities research analysts expect that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 29th. Investors of record on Friday, January 9th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, January 9th. Marvell Technology’s dividend payout ratio is presently 8.42%.

Marvell Technology declared that its board has authorized a stock buyback program on Wednesday, September 24th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 7.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other Marvell Technology news, CEO Matthew J. Murphy purchased 13,600 shares of the stock in a transaction on Thursday, September 25th. The stock was bought at an average price of $77.09 per share, for a total transaction of $1,048,424.00. Following the acquisition, the chief executive officer directly owned 268,637 shares of the company’s stock, valued at $20,709,226.33. This represents a 5.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CFO Willem A. Meintjes acquired 3,400 shares of the business’s stock in a transaction dated Thursday, September 25th. The shares were bought at an average price of $78.03 per share, for a total transaction of $265,302.00. Following the completion of the acquisition, the chief financial officer owned 132,159 shares in the company, valued at approximately $10,312,366.77. This trade represents a 2.64% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 27,200 shares of company stock worth $2,109,632 over the last ninety days. Insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Taylor Frigon Capital Management LLC boosted its holdings in Marvell Technology by 16.5% during the second 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 in the last quarter. Waterfront Wealth Inc. increased its holdings in shares of Marvell Technology by 21.5% in the second quarter. Waterfront Wealth Inc. now owns 18,394 shares of the semiconductor company’s stock valued at $1,424,000 after buying an additional 3,258 shares in the last quarter. BOCHK Asset Management Ltd acquired a new stake in shares of Marvell Technology during the 2nd quarter valued at $1,486,000. Westbourne Investments Inc. boosted its stake in shares of Marvell Technology by 442.4% during the 2nd 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. Finally, Norges Bank bought a new stake in shares of Marvell Technology during the 2nd quarter worth $716,713,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

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.