Marvell Technology (NASDAQ:MRVL) Stock Price Up 3.4% – Here’s What Happened

Marvell Technology, Inc. (NASDAQ:MRVL) shares traded up 3.4% during trading on Thursday . The company traded as high as $85.03 and last traded at $84.47. 12,623,067 shares changed hands during trading, a decline of 35% from the average session volume of 19,381,414 shares. The stock had previously closed at $81.70.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MRVL shares. Citigroup restated a “buy” rating and issued a $114.00 price objective on shares of Marvell Technology in a research note on Friday, December 5th. Summit Insights raised shares of Marvell Technology from a “hold” rating to a “buy” rating in a report on Wednesday, December 3rd. Evercore ISI raised their price objective on shares of Marvell Technology from $122.00 to $156.00 and gave the stock an “outperform” rating 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. Finally, Zacks Research upgraded shares of Marvell Technology from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 5th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus price target of $111.25.

Marvell Technology Stock Performance

The business has a 50 day moving average of $87.72 and a 200-day moving average of $78.90. The company has a market capitalization of $71.32 billion, a P/E ratio of 29.51, a price-to-earnings-growth ratio of 0.82 and a beta of 1.93. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 2.01.

Marvell Technology (NASDAQ:MRVL) last posted its earnings results on Tuesday, December 2nd. The semiconductor company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. Marvell Technology had a return on equity of 13.15% and a net margin of 31.75%.The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the previous year, the firm earned $0.43 EPS. The company’s quarterly revenue was up 36.8% compared to the same quarter last year. Marvell Technology has set its Q4 2026 guidance at 0.740-0.840 EPS. On average, sell-side analysts predict that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Announces Dividend

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

Marvell Technology declared that its Board of Directors has approved a share buyback program on Wednesday, September 24th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy up to 7.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Marvell Technology

In related news, CFO Willem A. Meintjes bought 3,400 shares of the business’s stock in a transaction that occurred on Thursday, September 25th. The stock was bought at an average cost of $78.03 per share, for a total transaction of $265,302.00. Following the completion of the transaction, the chief financial officer owned 132,159 shares of the company’s stock, valued at approximately $10,312,366.77. The trade was a 2.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Casper sold 1,253 shares of the stock in a transaction on Friday, December 5th. The shares were sold at an average price of $101.00, for a total value of $126,553.00. Following the completion of the transaction, the executive vice president directly owned 9,023 shares in the company, valued at approximately $911,323. This represents a 12.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders purchased a total of 27,200 shares of company stock worth $2,109,632 in the last three months. 0.19% of the stock is owned by insiders.

Hedge Funds Weigh In On Marvell Technology

Large investors have recently modified their holdings of the company. Game Plan Financial Advisors LLC bought a new position in Marvell Technology during the second quarter valued at approximately $27,000. Atlantic Edge Private Wealth Management LLC boosted its stake in shares of Marvell Technology by 160.0% in the 3rd quarter. Atlantic Edge Private Wealth Management LLC now owns 325 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 200 shares in the last quarter. Kiker Wealth Management LLC grew its holdings in shares of Marvell Technology by 374.7% during the 2nd quarter. Kiker Wealth Management LLC now owns 356 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 281 shares during the last quarter. Nova Wealth Management Inc. grew its holdings in shares of Marvell Technology by 3,922.2% during the 3rd quarter. Nova Wealth Management Inc. now owns 362 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 353 shares during the last quarter. Finally, Westside Investment Management Inc. raised its position in Marvell Technology by 62.5% in the 2nd quarter. Westside Investment Management Inc. now owns 416 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 160 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Company Profile

Marvell Technology Group is a global semiconductor company that designs and develops integrated circuits and related software for data infrastructure, networking, storage and connectivity markets. The company’s product portfolio includes system-on-chip (SoC) solutions, Ethernet physical-layer transceivers (PHYs), switch and switch silicon, optical interconnect components, storage controllers, and security processors. Marvell’s technology is used to enable high-performance data centers, carrier networks, enterprise and cloud storage, as well as connectivity in automotive and industrial applications.

Founded in 1995 and headquartered in Santa Clara, California, Marvell has grown through both organic development and strategic acquisitions to broaden its capabilities across networking and data interconnect.