Marvell Technology (NASDAQ:MRVL) Stock Gets Price Target Cut from B. Riley Financial

Marvell Technology (NASDAQ:MRVL) had its target price cut by B. Riley Financial from $275.00 to $250.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

MRVL has been the subject of several other research reports. BMO Capital Markets reaffirmed a “market perform” rating and issued a $325.00 price objective on shares of Marvell Technology in a report on Wednesday, October 7th. Cantor Fitzgerald lowered their target price on shares of Marvell Technology from $350.00 to $225.00 and set a “neutral” rating for the company in a report on Tuesday, November 3rd. Rosenblatt Securities restated a “buy” rating and set a $300.00 price target on shares of Marvell Technology in a research note on Friday, October 30th. Evercore reaffirmed an “outperform” rating and set a $433.00 price objective on shares of Marvell Technology in a research note on Tuesday, October 6th. Finally, Citigroup lifted their target price on Marvell Technology from $225.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 21st. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $300.09.

Marvell Technology Price Performance

MRVL opened at $168.80 on Monday. The company has a current ratio of 3.17, a quick ratio of 2.62 and a debt-to-equity ratio of 0.27. The company has a market cap of $148.02 billion, a price-to-earnings ratio of 55.71, a price-to-earnings-growth ratio of 4.61 and a beta of 2.32. The stock has a fifty day simple moving average of $231.09 and a two-hundred day simple moving average of $185.39. Marvell Technology has a 12-month low of $70.68 and a 12-month high of $329.88.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Thursday, August 27th. The semiconductor company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.01. Marvell Technology had a return on equity of 13.57% and a net margin of 27.93%. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.72 billion. During the same quarter in the previous year, the business earned $0.67 earnings per share. The firm’s quarterly revenue was up 36.5% compared to the same quarter last year. Marvell Technology has set its Q3 2027 guidance at 1.050-1.150 EPS. Research analysts predict that Marvell Technology will post 3.05 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 29th. Stockholders of record on Friday, October 9th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Friday, October 9th. Marvell Technology’s dividend payout ratio is presently 7.92%.

Insiders Place Their Bets

In other Marvell Technology news, insider Sandeep Bharathi sold 3,685 shares of the stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $234.97, for a total transaction of $865,864.45. Following the completion of the sale, the insider directly owned 58,748 shares of the company’s stock, valued at $13,804,017.56. This trade represents a 5.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Matthew J. Murphy sold 7,500 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $223.39, for a total value of $1,675,425.00. Following the transaction, the chief executive officer owned 775,686 shares in the company, valued at approximately $173,280,495.54. This represents a 0.96% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 57,285 shares of company stock valued at $12,901,763 over the last 90 days. 0.12% of the stock is owned by company insiders.

Institutional Trading of Marvell Technology

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in shares of Marvell Technology by 34.1% in the 2nd quarter. BlackRock Inc. now owns 85,641,174 shares of the semiconductor company’s stock valued at $25,511,649,000 after purchasing an additional 21,798,190 shares during the last quarter. State Street Corp boosted its stake in shares of Marvell Technology by 79.3% during the 2nd quarter. State Street Corp now owns 41,834,272 shares of the semiconductor company’s stock valued at $12,462,011,000 after buying an additional 18,495,866 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Marvell Technology in the 2nd quarter valued at about $2,607,795,000. Legal & General Group Plc bought a new stake in Marvell Technology during the 2nd quarter valued at $1,742,526,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Marvell Technology by 153.3% in the second quarter. Bank of New York Mellon Corp now owns 7,957,985 shares of the semiconductor company’s stock valued at $2,370,604,000 after buying an additional 4,815,725 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Key Marvell Technology News

These are some of the MRVL news items that stood out recently:

• Positive Sentiment: The proposed Lumentum acquisition could combine Marvell’s silicon capabilities with optical technology for AI data centers. Marvell has touted stronger long-term growth and more than $1 billion in annual run-rate cost synergies. Article: Marvell Jumps as AI Chip Rally Returns and Lumentum Deal Stays in Focus
• Neutral Sentiment: The rebound may be a recovery from a sharp selloff rather than confirmation of a lasting trend change. Recent strength in data-center demand supports the AI-growth case, but there was no single new company-specific catalyst reported. Article: Marvell Technology stock is rising: Is this a dead cat bounce or a real recovery?
• Negative Sentiment: Quiver reported that Marvell insiders made no open-market purchases and recorded 17 sales over the past six months. This may weigh on sentiment, although insider sales alone do not establish a negative outlook. Article: Marvell Jumps as AI Chip Rally Returns and Lumentum Deal Stays in Focus

Marvell Technology Company Profile

Marvell Technology is a fabless semiconductor company that develops data infrastructure chips and related technologies. Its products include networking and Ethernet chips, storage controllers, processors, optical and connectivity solutions, and custom silicon used in data centers, carrier networks, enterprise systems, and other applications. The company’s products help move, store, process, and secure data across cloud and telecommunications infrastructure. Marvell serves customers around the world, including equipment makers and technology companies that incorporate its semiconductors into their systems.