Marvell Technology (NASDAQ:MRVL) Stock Price Up 8.2% Following Analyst Upgrade

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) were up 8.2% during trading on Monday after Hsbc Global Res upgraded the stock to a hold rating. The company traded as high as $84.58 and last traded at $83.79. Approximately 23,872,130 shares changed hands during mid-day trading, an increase of 24% from the average daily volume of 19,202,623 shares. The stock had previously closed at $77.45.

A number of other analysts have also recently commented on MRVL. Wall Street Zen raised Marvell Technology from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Rosenblatt Securities decreased their target price on Marvell Technology from $124.00 to $95.00 and set a “buy” rating for the company in a report on Friday, August 29th. Raymond James Financial started coverage on Marvell Technology in a research report on Thursday, November 20th. They issued a “strong-buy” rating and a $121.00 target price on the stock. Morgan Stanley cut their price target on shares of Marvell Technology from $80.00 to $76.00 and set an “equal weight” rating on the stock in a report on Friday, August 29th. Finally, JPMorgan Chase & Co. decreased 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. Three analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $94.41.

Insider Activity

In other news, CFO Willem A. Meintjes acquired 3,400 shares of the company’s stock in a transaction dated Thursday, September 25th. The shares were acquired at an average price of $78.03 per share, with a total value of $265,302.00. Following the purchase, the chief financial officer directly owned 132,159 shares of the company’s stock, valued at $10,312,366.77. This trade represents a 2.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Matthew J. Murphy bought 13,600 shares of the firm’s stock in a transaction that occurred on Thursday, September 25th. The stock was purchased at an average price of $77.09 per share, with a total value of $1,048,424.00. Following the completion of the purchase, the chief executive officer owned 268,637 shares in the company, valued at approximately $20,709,226.33. This trade represents a 5.33% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 27,200 shares of company stock worth $2,109,632 over the last 90 days. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

A number of institutional investors have recently modified their holdings of MRVL. Cetera Investment Advisers boosted its holdings in Marvell Technology by 18.1% in the 1st quarter. Cetera Investment Advisers now owns 251,855 shares of the semiconductor company’s stock valued at $15,507,000 after purchasing an additional 38,595 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Marvell Technology by 26.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 243,890 shares of the semiconductor company’s stock valued at $15,016,000 after acquiring an additional 50,501 shares during the period. LPL Financial LLC grew its position in shares of Marvell Technology by 18.4% during the first quarter. LPL Financial LLC now owns 799,775 shares of the semiconductor company’s stock worth $49,242,000 after buying an additional 124,443 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Marvell Technology by 50.6% during the first quarter. Mackenzie Financial Corp now owns 95,436 shares of the semiconductor company’s stock worth $5,876,000 after buying an additional 32,081 shares during the period. Finally, Federated Hermes Inc. grew its holdings in Marvell Technology by 65.3% during the 1st quarter. Federated Hermes Inc. now owns 623,367 shares of the semiconductor company’s stock worth $38,381,000 after acquiring an additional 246,336 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Price Performance

The firm has a market capitalization of $75.62 billion, a price-to-earnings ratio of -674.77, a price-to-earnings-growth 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 stock’s fifty day moving average price is $85.50 and its two-hundred day moving average price is $75.82.

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

Marvell Technology Dividend Announcement

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

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