Barclays Reaffirms Overweight Rating for Marvell Technology (NASDAQ:MRVL)

Key Points

• Barclays has reaffirmed an "overweight" rating for Marvell Technology with a target price of $80.00, indicating a potential upside of nearly 25% from its previous close.
• Marvell Technology's stock performance has been volatile, recently trading at $64.06, down $13.17 during trading hours, with a significant trading volume of over 35 million shares.
• The company reported earnings of $0.67 per share, meeting analyst expectations, and saw revenues of $2.01 billion, marking a 57.6% year-over-year increase.

Marvell Technology (NASDAQ:MRVL - Get Free Report)'s stock had its "overweight" rating reaffirmed by analysts at Barclays in a report released on Friday,Benzinga reports. They presently have a $80.00 target price on the semiconductor company's stock. Barclays's price target would suggest a potential upside of 24.88% from the company's previous close.

MRVL has been the subject of several other reports. Cantor Fitzgerald increased their price objective on shares of Marvell Technology from $60.00 to $75.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Susquehanna decreased their price objective on shares of Marvell Technology from $110.00 to $90.00 and set a "positive" rating for the company in a report on Tuesday, May 27th. Melius cut shares of Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 price objective for the company. in a report on Thursday, May 22nd. Needham & Company LLC decreased their price objective on shares of Marvell Technology from $85.00 to $80.00 and set a "buy" rating for the company in a report on Friday. Finally, Evercore ISI decreased their price objective on shares of Marvell Technology from $133.00 to $122.00 and set an "outperform" rating for the company in a report on Friday. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $92.26.

Marvell Technology Stock Performance

Shares of NASDAQ:MRVL traded down $13.17 during trading hours on Friday, hitting $64.06. The stock had a trading volume of 35,438,060 shares, compared to its average volume of 18,408,176. The stock's fifty day simple moving average is $74.90 and its 200 day simple moving average is $71.08. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 1.30. The firm has a market capitalization of $55.34 billion, a price-to-earnings ratio of -113.03, a PEG ratio of 0.81 and a beta of 1.83. Marvell Technology has a 1-year low of $47.08 and a 1-year high of $127.48.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its quarterly earnings data on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.67. The business had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $2.01 billion. Marvell Technology had a negative net margin of 7.56% and a positive return on equity of 8.42%. The business's revenue was up 57.6% on a year-over-year basis. During the same period last year, the firm posted $0.30 earnings per share. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. Sell-side analysts anticipate that Marvell Technology will post 0.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Mark Casper sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $72.35, for a total value of $217,050.00. Following the completion of the transaction, the executive vice president owned 17,163 shares of the company's stock, valued at approximately $1,241,743.05. This trade represents a 14.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Panteha Dixon sold 1,283 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $68.50, for a total transaction of $87,885.50. Following the completion of the transaction, the chief accounting officer directly owned 29,572 shares of the company's stock, valued at $2,025,682. This represents a 4.16% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,783 shares of company stock worth $407,716. Corporate insiders own 0.19% of the company's stock.

Hedge Funds Weigh In On Marvell Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans boosted its stake in Marvell Technology by 55.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 265,181 shares of the semiconductor company's stock worth $20,515,000 after purchasing an additional 94,634 shares during the period. MASTERINVEST Kapitalanlage GmbH acquired a new position in Marvell Technology in the 2nd quarter worth approximately $227,000. Stance Capital LLC acquired a new position in Marvell Technology in the 2nd quarter worth approximately $1,483,000. Pathway Financial Advisers LLC boosted its stake in Marvell Technology by 2.3% in the 2nd quarter. Pathway Financial Advisers LLC now owns 15,233 shares of the semiconductor company's stock worth $1,179,000 after purchasing an additional 338 shares during the period. Finally, North Dallas Bank & Trust Co. acquired a new position in Marvell Technology in the 2nd quarter worth approximately $474,000. Institutional investors and hedge funds 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.

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