Marvell Technology (NASDAQ:MRVL) Trading Down 3.3% – Here’s What Happened

Marvell Technology, Inc. (NASDAQ:MRVL) shares fell 3.3% during mid-day trading on Thursday . The company traded as low as $87.51 and last traded at $89.43. 16,162,224 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 19,469,813 shares. The stock had previously closed at $92.47.

Wall Street Analysts Forecast Growth

MRVL has been the topic of several recent research reports. B. Riley reissued a “buy” rating and set a $130.00 price target (up previously from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 3rd. Wall Street Zen upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Susquehanna set a $120.00 price target on shares of Marvell Technology and gave the stock a “positive” rating in a report on Wednesday, December 3rd. Piper Sandler set a $110.00 price target on shares of Marvell Technology in a research report on Wednesday, December 3rd. Finally, Hsbc Global Res upgraded Marvell Technology to a “hold” rating in a report on Monday, November 24th. Four research 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’s stock. According to MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average target price of $111.56.

Marvell Technology Price Performance

The stock has a 50 day moving average price of $88.21 and a two-hundred day moving average price of $77.92. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.64. The firm has a market capitalization of $75.85 billion, a price-to-earnings ratio of 31.38, a PEG ratio of 0.86 and a beta of 1.93.

Marvell Technology (NASDAQ:MRVL) last released its 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. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.06 billion. Marvell Technology had a return on equity of 13.15% and a net margin of 31.75%.Marvell Technology’s revenue was up 36.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.43 EPS. Marvell Technology has set its Q4 2026 guidance at 0.740-0.840 EPS. As a group, analysts expect that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Announces Dividend

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

Marvell Technology declared that its Board of Directors has approved a stock buyback plan on Wednesday, September 24th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 7.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP Mark Casper sold 1,253 shares of the company’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $101.00, for a total transaction of $126,553.00. Following the sale, the executive vice president owned 9,023 shares of the company’s stock, valued at approximately $911,323. This represents a 12.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sandeep Bharathi bought 3,400 shares of the firm’s stock in a transaction that occurred 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 completion of the acquisition, the insider owned 73,392 shares of the company’s stock, valued at $5,726,777.76. This trade represents a 4.86% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have acquired 27,200 shares of company stock valued at $2,109,632. Corporate insiders own 0.19% of the company’s stock.

Institutional Trading of Marvell Technology

A number of large investors have recently made changes to their positions in the company. Game Plan Financial Advisors LLC purchased a new stake in shares of Marvell Technology in the 2nd quarter valued at approximately $27,000. Atlantic Edge Private Wealth Management LLC grew its stake in shares of Marvell Technology by 160.0% during 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 in the last quarter. Kiker Wealth Management LLC increased its holdings 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 buying an additional 281 shares during the last quarter. Nova Wealth Management Inc. raised its stake in Marvell Technology by 3,922.2% in the third quarter. Nova Wealth Management Inc. now owns 362 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 353 shares in the last quarter. Finally, Westside Investment Management Inc. lifted its holdings in Marvell Technology by 62.5% during the 2nd quarter. Westside Investment Management Inc. now owns 416 shares of the semiconductor company’s stock worth $32,000 after buying an additional 160 shares during the last quarter. 83.51% of the stock is currently 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.