Erste Group Bank Has Strong Outlook for MRVL FY2028 Earnings

Marvell Technology, Inc. (NASDAQ:MRVL) – Investment analysts at Erste Group Bank lifted their FY2028 earnings per share (EPS) estimates for shares of Marvell Technology in a report issued on Wednesday, October 21st. Erste Group Bank analyst S. Lingnau now expects that the semiconductor company will earn $6.12 per share for the year, up from their prior forecast of $6.10. Erste Group Bank currently has a “Hold” rating on the stock. The consensus estimate for Marvell Technology’s current full-year earnings is $3.05 per share.

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

A number of other equities research analysts have also issued reports on the stock. The Goldman Sachs Group reissued a “neutral” rating and set a $270.00 target price on shares of Marvell Technology in a research note on Wednesday, October 7th. Seaport Research Partners initiated coverage on shares of Marvell Technology in a research note on Tuesday, September 22nd. They issued a “buy” rating and a $270.00 price target on the stock. Wells Fargo & Company increased their price objective on Marvell Technology from $310.00 to $365.00 and gave the stock an “overweight” rating in a report on Wednesday, October 7th. Arete Research upgraded Marvell Technology to a “strong-buy” rating in a report on Friday, October 16th. Finally, Barclays reissued an “overweight” rating on shares of Marvell Technology in a research report on Thursday, August 20th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $327.36.

Marvell Technology Stock Performance

Shares of MRVL opened at $223.47 on Friday. The company has a market capitalization of $195.96 billion, a PE ratio of 73.75, a PEG ratio of 7.30 and a beta of 2.26. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.62 and a current ratio of 3.17. The company’s 50 day moving average price is $242.85 and its 200 day moving average price is $220.72. Marvell Technology has a 52 week low of $70.68 and a 52 week high of $329.88.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 29th. Investors of record on Friday, October 9th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Friday, October 9th. Marvell Technology’s dividend payout ratio (DPR) is presently 7.92%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, insider Sandeep Bharathi sold 3,685 shares of Marvell Technology stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $234.97, for a total value of $865,864.45. Following the completion of the sale, the insider directly owned 58,748 shares in the company, valued at $13,804,017.56. The trade was a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 Murphy sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $223.39, for a total transaction of $1,675,425.00. Following the completion of the sale, the chief executive officer directly owned 775,686 shares of the company’s stock, valued at $173,280,495.54. This represents a 0.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 57,285 shares of company stock worth $12,837,063 in the last ninety days. Insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its holdings in Marvell Technology by 34.1% in the second quarter. BlackRock Inc. now owns 85,641,174 shares of the semiconductor company’s stock worth $25,511,649,000 after purchasing an additional 21,798,190 shares in the last quarter. State Street Corp raised its holdings in Marvell Technology by 79.3% during the second 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 in the last quarter. Bank of America Corp DE bought a new position in Marvell Technology during the second quarter valued at about $2,607,795,000. Bank of New York Mellon Corp increased its holdings in shares of Marvell Technology by 153.3% during the 2nd 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 acquiring an additional 4,815,725 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in shares of Marvell Technology during the 2nd quarter valued at about $1,742,526,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Company Profile

Marvell Technology, Inc (NASDAQ: MRVL) is a semiconductor company that develops infrastructure solutions for data centers, telecommunications networks, enterprise systems, automotive applications and other connected markets. Its products are designed to support the movement, processing, storage and security of data across complex computing and communications environments.

The company’s portfolio includes data-processing and networking processors, custom application-specific integrated circuits, Ethernet switches and controllers, storage controllers, connectivity products, and electro-optics solutions.