Marvell Technology (NASDAQ:MRVL) Reaches New 12-Month High – Here’s Why

Marvell Technology, Inc. (NASDAQ:MRVL)’s share price hit a new 52-week high on Monday . The company traded as high as $133.20 and last traded at $131.3660, with a volume of 11182137 shares. The stock had previously closed at $128.49.

Wall Street Analyst Weigh In

MRVL has been the subject of a number of research reports. Morgan Stanley upped their price target on shares of Marvell Technology from $95.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Friday, March 6th. B. Riley Financial reaffirmed a “buy” rating and set a $135.00 price target (up from $130.00) on shares of Marvell Technology in a research report on Friday, March 6th. TD Cowen boosted their price objective on shares of Marvell Technology from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Friday, March 6th. Bank of America upgraded shares of Marvell Technology from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $90.00 to $110.00 in a report on Friday, March 6th. Finally, Rosenblatt Securities boosted their price objective on shares of Marvell Technology from $115.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and an average price target of $119.21.

Marvell Technology Trading Up 1.7%

The firm has a market cap of $114.27 billion, a price-to-earnings ratio of 42.43, a price-to-earnings-growth ratio of 1.17 and a beta of 1.83. The business’s 50 day moving average price is $88.86 and its 200-day moving average price is $87.18. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.58 and a current ratio of 2.01.

Marvell Technology (NASDAQ:MRVL) last issued its earnings results on Thursday, March 5th. The semiconductor company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.21 billion. Marvell Technology had a net margin of 32.58% and a return on equity of 14.22%. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 EPS. Marvell Technology has set its Q1 2027 guidance at 0.740-0.840 EPS. Equities analysts expect that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Friday, April 10th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Friday, April 10th. Marvell Technology’s dividend payout ratio is 7.79%.

Insider Activity at Marvell Technology

In other news, CEO Matthew J. Murphy sold 30,000 shares of the company’s stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of $98.70, for a total value of $2,961,000.00. Following the sale, the chief executive officer owned 310,106 shares in the company, valued at approximately $30,607,462.20. This represents a 8.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Chris Koopmans sold 10,000 shares of the business’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $110.24, for a total transaction of $1,102,400.00. Following the sale, the chief operating officer directly owned 133,870 shares of the company’s stock, valued at approximately $14,757,828.80. This represents a 6.95% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 109,168 shares of company stock worth $11,139,940. Company insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position 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 valued at $6,692,830,000 after buying an additional 15,166,976 shares during the last quarter. State Street Corp grew its position in Marvell Technology by 7.9% in the 4th quarter. State Street Corp now owns 22,834,816 shares of the semiconductor company’s stock worth $1,940,503,000 after purchasing an additional 1,677,724 shares during the last quarter. Ameriprise Financial Inc. grew its position in Marvell Technology by 59.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 16,624,827 shares of the semiconductor company’s stock worth $1,397,751,000 after purchasing an additional 6,217,952 shares during the last quarter. Geode Capital Management LLC grew its position in Marvell Technology by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 12,108,452 shares of the semiconductor company’s stock worth $1,025,185,000 after purchasing an additional 97,624 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Marvell Technology by 47.0% in the 3rd quarter. Franklin Resources Inc. now owns 11,903,051 shares of the semiconductor company’s stock worth $1,000,689,000 after purchasing an additional 3,805,431 shares during the last quarter. 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.