Marvell Technology (NASDAQ:MRVL) Trading 6.4% Higher – Should You Buy?

Marvell Technology, Inc. (NASDAQ:MRVL)’s share price was up 6.4% during mid-day trading on Monday . The company traded as high as $199.33 and last traded at $200.6870. Approximately 10,422,889 shares changed hands during trading, a decline of 65% from the average daily volume of 29,981,412 shares. The stock had previously closed at $188.68.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MRVL. Jefferies Financial Group boosted their price objective on shares of Marvell Technology from $149.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $360.00 price target on shares of Marvell Technology in a research report on Tuesday, July 7th. Zacks Research raised Marvell Technology from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. Citigroup raised their price objective on Marvell Technology from $118.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Finally, Wells Fargo & Company upped their target price on Marvell Technology from $195.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average price target of $245.45.

Marvell Technology Stock Performance

The company has a market capitalization of $172.67 billion, a PE ratio of 67.63, a PEG ratio of 1.24 and a beta of 2.20. The firm has a 50-day moving average of $240.52 and a two-hundred day moving average of $149.51. The company has a quick ratio of 2.66, a current ratio of 3.28 and a debt-to-equity ratio of 0.27.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data on Wednesday, May 27th. The semiconductor company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.41 billion. Marvell Technology had a return on equity of 13.83% and a net margin of 28.99%.The business’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 EPS. Marvell Technology has set its Q2 2027 guidance at 0.880-0.980 EPS. Research analysts anticipate that Marvell Technology, Inc. will post 3.07 EPS for the current year.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Friday, July 10th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.1%. Marvell Technology’s payout ratio is presently 8.22%.

Insider Buying and Selling at Marvell Technology

In other news, CEO Matthew J. Murphy sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $177.26, for a total transaction of $1,329,450.00. Following the sale, the chief executive officer directly owned 739,397 shares in the company, valued at $131,065,512.22. This trade represents a 1.00% decrease in their position. 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. Also, insider Sandeep Bharathi sold 2,231 shares of Marvell Technology stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $299.13, for a total value of $667,359.03. Following the completion of the transaction, the insider owned 55,530 shares of the company’s stock, valued at approximately $16,610,688.90. This represents a 3.86% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Over the last 90 days, insiders sold 45,981 shares of company stock worth $9,835,542. 0.12% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Marvell Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Focused Wealth Management Inc acquired a new stake in shares of Marvell Technology during the 1st quarter worth about $608,000. Swedbank AB raised its holdings in Marvell Technology by 2.8% during the first quarter. Swedbank AB now owns 3,189,551 shares of the semiconductor company’s stock worth $315,925,000 after purchasing an additional 85,816 shares in the last quarter. Wilson Asset Management International PTY Ltd. lifted its position in shares of Marvell Technology by 20.4% during the 4th quarter. Wilson Asset Management International PTY Ltd. now owns 134,642 shares of the semiconductor company’s stock worth $11,442,000 after buying an additional 22,837 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Marvell Technology by 49.7% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 273,647 shares of the semiconductor company’s stock worth $27,105,000 after buying an additional 90,800 shares during the last quarter. Finally, Varma Mutual Pension Insurance Co boosted its holdings in shares of Marvell Technology by 25.4% in the 4th quarter. Varma Mutual Pension Insurance Co now owns 158,588 shares of the semiconductor company’s stock valued at $13,477,000 after buying an additional 32,130 shares in the last quarter. 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.