Marvell Technology (NASDAQ:MRVL) Trading Down 3.4% After Insider Selling

Marvell Technology, Inc. (NASDAQ:MRVL) shares dropped 3.4% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $88.04 and last traded at $88.90. Approximately 22,369,757 shares traded hands during mid-day trading, an increase of 15% from the average daily volume of 19,481,543 shares. The stock had previously closed at $92.00.

Specifically, EVP Mark Casper sold 1,253 shares of the business’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $101.00, for a total value of $126,553.00. Following the transaction, the executive vice president owned 9,023 shares of the company’s stock, valued at approximately $911,323. The trade was a 12.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MRVL. Cowen reiterated a “hold” rating on shares of Marvell Technology in a research note on Wednesday, December 3rd. Craig Hallum restated a “buy” rating and set a $141.00 price objective on shares of Marvell Technology in a report on Wednesday, December 3rd. Summit Redstone set a $105.00 price objective on shares of Marvell Technology in a research report on Wednesday, October 15th. HSBC began coverage on shares of Marvell Technology in a research note on Monday, November 24th. They issued a “hold” rating and a $85.00 target price on the stock. Finally, Bank of America restated a “neutral” rating and set a $78.00 price target (down previously from $90.00) on shares of Marvell Technology in a research note on Friday, August 29th. Four analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.56.

Marvell Technology Stock Performance

The company has a quick ratio of 1.64, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $75.40 billion, a PE ratio of 31.19, a PEG ratio of 0.96 and a beta of 1.93. The company has a 50-day moving average price of $87.94 and a two-hundred day moving average price of $77.62.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings data on Tuesday, December 2nd. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Marvell Technology had a return on equity of 13.15% and a net margin of 31.75%.The firm’s quarterly revenue was up 36.8% on a year-over-year basis. 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. Analysts predict that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 30th. Stockholders of record on Friday, October 10th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Friday, October 10th. Marvell Technology’s payout ratio is 8.42%.

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

Institutional Trading of Marvell Technology

Several institutional investors and hedge funds have recently modified their holdings of MRVL. Taylor Frigon Capital Management LLC increased its position in shares of Marvell Technology by 16.5% in 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 during the period. Waterfront Wealth Inc. boosted its holdings in shares of Marvell Technology by 21.5% during the second 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 bought a new stake in shares of Marvell Technology in the second quarter worth about $1,486,000. Westbourne Investments Inc. increased its holdings in Marvell Technology by 442.4% during the 2nd quarter. Westbourne Investments Inc. now owns 21,695 shares of the semiconductor company’s stock valued at $1,679,000 after purchasing an additional 17,695 shares during the period. Finally, Norges Bank purchased a new position in Marvell Technology during the 2nd quarter valued at about $716,713,000. Hedge funds and other 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.