Marvell Technology (NASDAQ:MRVL) Price Target Raised to $100.00 at TD Cowen

Marvell Technology (NASDAQ:MRVL) had its price target hoisted by stock analysts at TD Cowen from $90.00 to $100.00 in a research note issued to investors on Wednesday. The brokerage currently has a “hold” rating on the semiconductor company’s stock. TD Cowen’s target price would indicate a potential upside of 7.65% from the stock’s current price.

Several other analysts have also recently issued reports on MRVL. Benchmark increased their target price on Marvell Technology from $95.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday. The Goldman Sachs Group restated a “neutral” rating on shares of Marvell Technology in a research note on Wednesday. Barclays set a $105.00 price objective on shares of Marvell Technology in a research report on Wednesday. Piper Sandler reissued an “overweight” rating on shares of Marvell Technology in a report on Wednesday. Finally, JPMorgan Chase & Co. cut their target price 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 given a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $101.25.

Marvell Technology Stock Up 2.0%

Shares of MRVL stock opened at $92.89 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.88 and a quick ratio of 1.44. Marvell Technology has a one year low of $47.08 and a one year high of $127.48. The company’s fifty day moving average price is $86.75 and its 200-day moving average price is $76.61. The company has a market capitalization of $80.08 billion, a price-to-earnings ratio of -714.54, a PEG ratio of 1.10 and a beta of 1.95.

Marvell Technology (NASDAQ:MRVL) last issued its earnings results 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 company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.06 billion. Marvell Technology had a negative net margin of 1.43% and a positive return on equity of 11.01%. Marvell Technology’s quarterly revenue was up 36.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.43 EPS. Marvell Technology has set its Q4 2026 guidance at 0.740-0.840 EPS. Sell-side analysts expect that Marvell Technology will post 0.91 EPS for the current fiscal year.

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

Insider Buying and Selling

In related news, CEO Matthew J. Murphy purchased 13,600 shares of the stock in a transaction that occurred on Thursday, September 25th. The stock was 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 directly 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. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Chris Koopmans bought 6,800 shares of Marvell Technology stock in a transaction dated 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 purchase, the chief operating officer owned 104,825 shares of the company’s stock, valued at approximately $8,179,494.75. This trade represents a 6.94% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 27,200 shares of company stock valued at $2,109,632. 0.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Marvell Technology

Several hedge funds and other institutional investors have recently modified their holdings of the business. Taylor Frigon Capital Management LLC raised its stake in shares of 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 valued at $2,601,000 after acquiring an additional 4,748 shares in the last quarter. Waterfront Wealth Inc. increased its holdings in Marvell Technology by 21.5% during the 2nd quarter. Waterfront Wealth Inc. now owns 18,394 shares of the semiconductor company’s stock worth $1,424,000 after purchasing an additional 3,258 shares during the period. BOCHK Asset Management Ltd purchased a new position in shares of Marvell Technology during the second quarter valued at $1,486,000. Westbourne Investments Inc. lifted its stake in Marvell Technology by 442.4% in 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 during the period. Finally, Triton Financial Group Inc bought a new position in Marvell Technology during the 2nd quarter worth about $1,543,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Company Profile

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.