Marvell Technology (NASDAQ:MRVL) Stock Price Up 5.1% After Analyst Upgrade

Marvell Technology, Inc. (NASDAQ:MRVL)’s share price shot up 5.1% during trading on Wednesday after Hsbc Global Res upgraded the stock to a hold rating. The stock traded as high as $89.31 and last traded at $87.72. 14,961,033 shares changed hands during trading, a decline of 22% from the average session volume of 19,155,805 shares. The stock had previously closed at $83.43.

A number of other research analysts have also recently issued reports on MRVL. Summit Redstone set a $105.00 price target on shares of Marvell Technology in a research report on Wednesday, October 15th. Evercore ISI lowered their target price on shares of Marvell Technology from $133.00 to $122.00 and set an “outperform” rating for the company in a report on Friday, August 29th. Bank of America reissued a “neutral” rating and issued a $78.00 price target (down from $90.00) on shares of Marvell Technology in a research report on Friday, August 29th. Raymond James Financial assumed coverage on Marvell Technology in a research report on Thursday, November 20th. They set a “strong-buy” rating and a $121.00 price objective for the company. Finally, Cowen downgraded Marvell Technology from a “buy” rating to a “hold” rating in a report on Tuesday, September 30th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and fifteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and an average target price of $94.41.

Insiders Place Their Bets

In related news, CFO Willem A. Meintjes bought 3,400 shares of the stock in a transaction on Thursday, September 25th. The shares were acquired at an average price of $78.03 per share, for a total transaction of $265,302.00. Following the purchase, 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 accessible through this link. Also, CEO Matthew J. Murphy purchased 13,600 shares of Marvell Technology stock in a transaction dated Thursday, September 25th. The stock was bought at an average price of $77.09 per share, with a total value of $1,048,424.00. Following the completion of the purchase, the chief executive officer directly owned 268,637 shares of the company’s stock, valued at approximately $20,709,226.33. This trade represents a 5.33% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 27,200 shares of company stock worth $2,109,632 in the last 90 days. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Marvell Technology by 23.5% during the third quarter. Vanguard Group Inc. now owns 79,610,208 shares of the semiconductor company’s stock valued at $6,692,830,000 after acquiring an additional 15,166,976 shares during the last quarter. Norges Bank bought a new stake in shares of Marvell Technology during the 2nd quarter valued at about $716,713,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Marvell Technology by 4,758.5% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,036,216 shares of the semiconductor company’s stock valued at $544,603,000 after purchasing an additional 6,891,393 shares during the last quarter. Nuveen LLC bought a new position in shares of Marvell Technology in the 1st quarter worth approximately $399,587,000. Finally, Ameriprise Financial Inc. boosted 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 buying an additional 6,217,952 shares during the last quarter. 83.51% of the stock is owned by institutional investors.

Marvell Technology Price Performance

The firm’s 50-day moving average is $85.16 and its 200-day moving average is $75.73. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.88 and a quick ratio of 1.44. The company has a market capitalization of $75.62 billion, a P/E ratio of -674.77, a price-to-earnings-growth ratio of 1.10 and a beta of 1.95.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.01 billion. Marvell Technology had a negative net margin of 1.43% and a positive return on equity of 11.01%. The company’s quarterly revenue was up 57.6% on a year-over-year basis. During the same period last year, the firm earned $0.30 earnings per share. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. Analysts predict that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 30th. Shareholders of record on Friday, October 10th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Friday, October 10th. Marvell Technology’s dividend payout ratio is presently -184.62%.

Marvell Technology announced that its board has approved a share buyback plan on Wednesday, September 24th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 7.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

About Marvell Technology

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.