Marvell Technology (NASDAQ:MRVL) Shares Gap Up – Here’s What Happened

Marvell Technology, Inc. (NASDAQ:MRVL) gapped up before the market opened on Friday . The stock had previously closed at $183.30, but opened at $199.38. Marvell Technology shares last traded at $189.3380, with a volume of 6,803,632 shares.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MRVL shares. Royal Bank Of Canada restated an “outperform” rating and set a $360.00 price objective on shares of Marvell Technology in a report on Tuesday, July 7th. Evercore reiterated an “outperform” rating and issued a $155.00 target price on shares of Marvell Technology in a research note on Tuesday, May 19th. Cantor Fitzgerald increased their target price on shares of Marvell Technology from $220.00 to $300.00 and gave the company a “neutral” rating in a research report on Monday, June 29th. TD Cowen raised their price target on shares of Marvell Technology from $180.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, May 28th. Finally, Oppenheimer lifted their price target on shares of Marvell Technology from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $245.45.

Marvell Technology Stock Performance

The firm has a market capitalization of $166.88 billion, a PE ratio of 65.50, a P/E/G ratio of 1.02 and a beta of 2.20. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.28 and a quick ratio of 2.66. The company’s fifty day simple moving average is $243.17 and its 200 day simple moving average is $156.22.

Marvell Technology (NASDAQ:MRVL) last issued its earnings results on Wednesday, May 27th. The semiconductor company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. Marvell Technology had a net margin of 28.99% and a return on equity of 13.83%. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the business earned $0.62 earnings per share. The company’s quarterly revenue was up 27.6% on a year-over-year basis. Marvell Technology has set its Q2 2027 guidance at 0.880-0.980 EPS. As a group, equities research analysts expect that Marvell Technology, Inc. will post 3.07 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Friday, July 10th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Friday, July 10th. Marvell Technology’s payout ratio is currently 8.22%.

Insider Buying and Selling at Marvell Technology

In other news, insider Sandeep Bharathi sold 2,231 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $299.13, for a total value of $667,359.03. Following the completion of the transaction, the insider directly owned 55,530 shares of the company’s stock, valued at $16,610,688.90. This trade represents a 3.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 J. Murphy sold 7,500 shares of Marvell Technology stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $177.26, for a total value of $1,329,450.00. Following the completion of the transaction, the chief executive officer owned 739,397 shares of the company’s stock, valued at approximately $131,065,512.22. This trade represents a 1.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 35,981 shares of company stock worth $8,207,942. Company insiders own 0.12% of the company’s stock.

Institutional Trading of Marvell Technology

A number of institutional investors have recently added to or reduced their stakes in MRVL. Arlington Trust Co LLC raised its position in Marvell Technology by 24.1% in the second quarter. Arlington Trust Co LLC now owns 268 shares of the semiconductor company’s stock worth $80,000 after acquiring an additional 52 shares in the last quarter. GoalVest Advisory LLC boosted its position in shares of Marvell Technology by 26.0% during the 2nd quarter. GoalVest Advisory LLC now owns 315 shares of the semiconductor company’s stock worth $94,000 after purchasing an additional 65 shares in the last quarter. Mayflower Financial Advisors LLC boosted its position in shares of Marvell Technology by 1.7% during the 1st quarter. Mayflower Financial Advisors LLC now owns 4,109 shares of the semiconductor company’s stock worth $407,000 after purchasing an additional 68 shares in the last quarter. Bell Investment Advisors Inc boosted its position in shares of Marvell Technology by 12.9% during the 1st quarter. Bell Investment Advisors Inc now owns 628 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 72 shares in the last quarter. Finally, HBW Advisory Services LLC grew its stake in shares of Marvell Technology by 3.3% during the 2nd quarter. HBW Advisory Services LLC now owns 2,270 shares of the semiconductor company’s stock worth $676,000 after purchasing an additional 73 shares during the period. Hedge funds and other institutional investors 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.