Marvell Technology (NASDAQ:MRVL) Trading 4% Higher – Still a Buy?

Marvell Technology, Inc. (NASDAQ:MRVL)’s stock price traded up 4% during trading on Wednesday . The company traded as high as $92.85 and last traded at $92.47. 22,394,650 shares were traded during mid-day trading, an increase of 15% from the average session volume of 19,496,730 shares. The stock had previously closed at $88.90.

Wall Street Analyst Weigh In

MRVL has been the topic of several recent analyst reports. Needham & Company LLC increased their price target on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, December 3rd. Hsbc Global Res raised Marvell Technology to a “hold” rating in a report on Monday, November 24th. Summit Insights raised shares of Marvell Technology from a “hold” rating to a “buy” rating in a report on Wednesday, December 3rd. Roth Capital increased their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 3rd. Finally, Stifel Nicolaus upped their price objective on shares of Marvell Technology from $95.00 to $114.00 and gave the company a “buy” rating in a research note on Wednesday, December 3rd. Four research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.56.

Marvell Technology Stock Up 4.0%

The stock has a 50 day moving average price of $88.04 and a 200 day moving average price of $77.81. The company has a current ratio of 2.01, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $78.42 billion, a P/E ratio of 32.45, a PEG ratio of 0.89 and a beta of 1.93.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings results on Tuesday, December 2nd. The semiconductor company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. Marvell Technology had a net margin of 31.75% and a return on equity of 13.15%. The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the previous year, the business earned $0.43 earnings per share. Marvell Technology’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 anticipate that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 30th. Stockholders of record on Friday, October 10th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. Marvell Technology’s dividend payout ratio (DPR) is 8.42%.

Marvell Technology declared that its Board of Directors has initiated a stock buyback program on Wednesday, September 24th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 7.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes bought 3,400 shares of the stock in a transaction that occurred on Thursday, September 25th. The shares were bought at an average price of $78.03 per share, for a total transaction of $265,302.00. Following the acquisition, the chief financial officer directly 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew J. Murphy bought 13,600 shares of the business’s stock in a transaction that occurred on Thursday, September 25th. The shares were bought at an average cost of $77.09 per share, for a total transaction of $1,048,424.00. Following the transaction, the chief executive officer owned 268,637 shares of the company’s stock, valued at $20,709,226.33. The trade was a 5.33% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 27,200 shares of company stock valued at $2,109,632 over the last quarter. 0.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Marvell Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Swiss Life Asset Management Ltd boosted its holdings in shares of Marvell Technology by 16.3% in the third quarter. Swiss Life Asset Management Ltd now owns 144,680 shares of the semiconductor company’s stock worth $12,163,000 after acquiring an additional 20,331 shares during the period. KERR FINANCIAL PLANNING Corp bought a new stake in Marvell Technology in the third quarter valued at approximately $429,000. Kimelman & Baird LLC increased its stake in shares of Marvell Technology by 207.1% during the third quarter. Kimelman & Baird LLC now owns 246,641 shares of the semiconductor company’s stock valued at $20,735,000 after buying an additional 166,326 shares during the period. CIBC Bancorp USA Inc. purchased a new position in shares of Marvell Technology in the 3rd quarter valued at approximately $5,253,000. Finally, Old North State Trust LLC boosted its position in shares of Marvell Technology by 74.3% in the 3rd quarter. Old North State Trust LLC now owns 5,001 shares of the semiconductor company’s stock worth $420,000 after purchasing an additional 2,132 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

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.