Marvell Technology (NASDAQ:MRVL) Trading 3.4% Higher – Still a Buy?

Marvell Technology, Inc. (NASDAQ:MRVL) shot up 3.4% on Wednesday . The stock traded as high as $84.29 and last traded at $82.55. 16,858,265 shares were traded during trading, an increase of 8% from the average session volume of 15,672,292 shares. The stock had previously closed at $79.80.

Analysts Set New Price Targets

A number of equities analysts have commented on MRVL shares. KeyCorp upped their price objective on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 3rd. B. Riley reiterated a “buy” rating and set a $130.00 price target (up from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 3rd. HSBC began coverage on shares of Marvell Technology in a report on Monday, November 24th. They set a “hold” rating and a $85.00 price target for the company. Hsbc Global Res raised Marvell Technology to a “hold” rating in a report on Monday, November 24th. Finally, Summit Redstone set a $105.00 target price on Marvell Technology in a research report on Wednesday, October 15th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $115.09.

Marvell Technology Stock Performance

The stock’s fifty day simple moving average is $85.90 and its 200-day simple moving average is $80.97. 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 $70.01 billion, a PE ratio of 28.96, a PEG ratio of 0.78 and a beta of 1.95.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings results on Tuesday, December 2nd. The semiconductor company reported $0.76 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the prior year, the firm posted $0.43 EPS. The company’s 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, research analysts predict that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 29th. Stockholders of record on Friday, January 9th will be given a $0.06 dividend. The ex-dividend date is Friday, January 9th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. Marvell Technology’s dividend payout ratio (DPR) is currently 8.42%.

Marvell Technology declared that its board has initiated a stock repurchase program on Wednesday, September 24th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the semiconductor company to reacquire up to 7.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Marvell Technology

In related news, EVP Mark Casper sold 5,000 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $93.08, for a total value of $465,400.00. Following the sale, the executive vice president directly owned 19,418 shares of the company’s stock, valued at approximately $1,807,427.44. This represents a 20.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is owned by corporate insiders.

Institutional Trading of Marvell Technology

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Marvell Technology by 23.5% during the 3rd quarter. Vanguard Group Inc. now owns 79,610,208 shares of the semiconductor company’s stock worth $6,692,830,000 after purchasing an additional 15,166,976 shares in the last quarter. Norges Bank acquired a new stake in Marvell Technology during the 2nd quarter valued at $716,713,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Marvell Technology by 4,758.5% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,036,216 shares of the semiconductor company’s stock worth $544,603,000 after buying an additional 6,891,393 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Marvell Technology by 59.7% in the third quarter. Ameriprise Financial Inc. now owns 16,624,827 shares of the semiconductor company’s stock worth $1,397,751,000 after acquiring an additional 6,217,952 shares during the last quarter. Finally, Amundi raised its holdings in shares of Marvell Technology by 113.4% in the second quarter. Amundi now owns 8,648,350 shares of the semiconductor company’s stock worth $642,140,000 after acquiring an additional 4,596,309 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

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.