FY2028 Earnings Estimate for MRVL Issued By Erste Group Bank

Key Points

• Erste Group Bank raised its FY2028 EPS estimate for Marvell Technology to $6.12 from $6.10, while maintaining a “Hold” rating; the broader analyst consensus is a “Moderate Buy” with an average price target of $327.36.
• Marvell’s latest quarterly results slightly exceeded expectations, with EPS of $0.94 versus $0.93 expected and revenue of $2.74 billion versus $2.72 billion. Revenue increased 36.5% year over year, and the company guided to Q3 2027 EPS of $1.05–$1.15.
• Shares opened at $223.47 after an 8.7% decline, with a market capitalization of approximately $196 billion and a high valuation at 73.75 times earnings. Institutional investors own 83.51% of the stock, while insiders have sold shares recently under pre-arranged trading plans.

Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) - Equities research analysts at Erste Group Bank raised their FY2028 earnings per share (EPS) estimates for Marvell Technology in a research note issued to investors on Wednesday, October 21st. Erste Group Bank analyst S. Lingnau now anticipates that the semiconductor company will post earnings of $6.12 per share for the year, up from their prior forecast of $6.10. Erste Group Bank has a "Hold" rating on the stock. The consensus estimate for Marvell Technology's current full-year earnings is $3.05 per share.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings results on Thursday, August 27th. The semiconductor company reported $0.94 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.01. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.72 billion. Marvell Technology had a net margin of 27.93% and a return on equity of 13.57%. Marvell Technology's revenue was up 36.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.67 EPS. Marvell Technology has set its Q3 2027 guidance at 1.050-1.150 EPS.

A number of other brokerages have also recently weighed in on MRVL. BMO Capital Markets restated a "market perform" rating and set a $325.00 target price on shares of Marvell Technology in a report on Wednesday, October 7th. Jefferies Financial Group lifted their price target on shares of Marvell Technology from $325.00 to $450.00 and gave the stock a "buy" rating in a research report on Tuesday, October 6th. Oppenheimer reaffirmed an "outperform" rating and issued a $425.00 price target on shares of Marvell Technology in a report on Wednesday, October 7th. Citigroup upped their price target on Marvell Technology from $225.00 to $275.00 and gave the company a "buy" rating in a report on Friday, August 21st. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Marvell Technology in a research report on Tuesday, October 6th. Three research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $327.36.

Marvell Technology Stock Down 8.7%

NASDAQ MRVL opened at $223.47 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.17 and a quick ratio of 2.62. The company's 50 day simple moving average is $242.85 and its 200 day simple moving average is $220.72. Marvell Technology has a 12 month low of $70.68 and a 12 month high of $329.88. The company has a market capitalization of $195.96 billion, a P/E ratio of 73.75, a PEG ratio of 7.30 and a beta of 2.26.

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. BlackRock Inc. lifted its holdings in shares of Marvell Technology by 34.1% in the second quarter. BlackRock Inc. now owns 85,641,174 shares of the semiconductor company's stock valued at $25,511,649,000 after purchasing an additional 21,798,190 shares in the last quarter. State Street Corp boosted its position in shares of Marvell Technology by 79.3% in the second quarter. State Street Corp now owns 41,834,272 shares of the semiconductor company's stock worth $12,462,011,000 after buying an additional 18,495,866 shares during the period. Bank of America Corp DE acquired a new stake in shares of Marvell Technology in the second quarter worth $2,607,795,000. Bank of New York Mellon Corp boosted its position in shares of Marvell Technology by 153.3% in the second quarter. Bank of New York Mellon Corp now owns 7,957,985 shares of the semiconductor company's stock worth $2,370,604,000 after buying an additional 4,815,725 shares during the period. Finally, Legal & General Group Plc purchased a new position in shares of Marvell Technology during the second quarter valued at $1,742,526,000. Institutional investors and hedge funds own 83.51% of the company's stock.

Insider Activity

In other Marvell Technology news, CEO Matthew Murphy sold 7,500 shares of the firm's stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $235.47, for a total value of $1,766,025.00. Following the completion of the transaction, the chief executive officer directly owned 768,186 shares in the company, valued at $180,884,757.42. This trade represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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, insider Sandeep Bharathi sold 3,685 shares of the firm's stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $234.97, for a total transaction of $865,864.45. Following the completion of the transaction, the insider owned 58,748 shares of the company's stock, valued at approximately $13,804,017.56. The trade was a 5.90% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 57,285 shares of company stock valued at $12,837,063 over the last ninety days. Corporate insiders own 0.12% of the company's stock.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 29th. Shareholders of record on Friday, October 9th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a $0.24 dividend on an annualized basis and a yield of 0.1%. Marvell Technology's dividend payout ratio is currently 7.92%.

Marvell Technology Company Profile

Marvell Technology, Inc NASDAQ: MRVL is a semiconductor company that develops infrastructure solutions for data centers, telecommunications networks, enterprise systems, automotive applications and other connected markets. Its products are designed to support the movement, processing, storage and security of data across complex computing and communications environments.

The company's portfolio includes data-processing and networking processors, custom application-specific integrated circuits, Ethernet switches and controllers, storage controllers, connectivity products, and electro-optics solutions.

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