Marvell Technology (NASDAQ:MRVL) Shares Up 1.9% – Here’s Why

Marvell Technology, Inc. (NASDAQ:MRVL)’s share price was up 1.9% during mid-day trading on Monday . The stock traded as high as $83.44 and last traded at $81.77. Approximately 12,308,033 shares traded hands during trading, a decline of 19% from the average daily volume of 15,204,707 shares. The stock had previously closed at $80.23.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Jefferies Financial Group increased their price objective on shares of Marvell Technology from $80.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, December 3rd. UBS Group set a $100.00 price target on shares of Marvell Technology in a research report on Wednesday, December 3rd. JPMorgan Chase & Co. boosted their price objective on Marvell Technology from $120.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 3rd. Craig Hallum restated a “buy” rating and set a $141.00 price objective on shares of Marvell Technology in a research note on Wednesday, December 3rd. Finally, HSBC started coverage on Marvell Technology in a research report on Monday, November 24th. They issued a “hold” rating and a $85.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $115.09.

Marvell Technology Stock Performance

The firm has a market cap of $69.35 billion, a price-to-earnings ratio of 39.14, a PEG ratio of 0.78 and a beta of 1.95. The stock’s fifty day moving average is $85.66 and its two-hundred day moving average is $81.23. 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 EPS for the quarter, topping the consensus estimate of $0.74 by $0.02. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Marvell Technology had a net margin of 31.75% and a return on equity of 13.15%. Marvell Technology’s quarterly revenue was up 36.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 EPS. Marvell Technology has set its Q4 2026 guidance at 0.740-0.840 EPS. On average, analysts expect that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

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

Insider Activity

In related news, EVP Mark Casper sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $93.08, for a total transaction of $465,400.00. Following the transaction, the executive vice president owned 19,418 shares in the company, valued at $1,807,427.44. This trade represents a 20.48% 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. 0.33% of the stock is owned by company insiders.

Institutional Trading of Marvell Technology

Institutional 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 about $27,000. Atlantic Edge Private Wealth Management LLC lifted its holdings in 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 acquiring an additional 200 shares during the last quarter. Kiker Wealth Management LLC lifted its holdings in Marvell Technology by 374.7% in the 2nd quarter. Kiker Wealth Management LLC now owns 356 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 281 shares during the last quarter. Nova Wealth Management Inc. boosted its position 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 in the last quarter. Finally, Westside Investment Management Inc. grew its stake in shares of 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 last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

About Marvell Technology

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.