Marvell Technology (NASDAQ:MRVL) Given "Neutral" Rating at Bank of America

Key Points

• Bank of America has reissued a "neutral" rating for Marvell Technology with a target price reduction from $90.00 to $78.00, suggesting a potential upside of only 1% from the current stock price.
• Marvell Technology reported a quarterly revenue of $2.01 billion, meeting analyst estimates, along with an EPS of $0.67 for the quarter, which reflects significant year-over-year growth.
• Marking recent insider activity, CFO Willem A. Meintjes sold 1,500 shares at an average price of $68.52, indicating a 1.22% decrease in his position within the company.

Marvell Technology (NASDAQ:MRVL - Get Free Report)'s stock had its "neutral" rating reissued by equities research analysts at Bank of America in a research note issued on Friday,Benzinga reports. They currently have a $78.00 target price on the semiconductor company's stock, down from their previous target price of $90.00. Bank of America's target price indicates a potential upside of 1.00% from the stock's current price.

Several other equities analysts have also commented on the company. Loop Capital decreased their price target on Marvell Technology from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. Wall Street Zen lowered Marvell Technology from a "buy" rating to a "hold" rating in a research note on Sunday, August 17th. Needham & Company LLC decreased their price target on Marvell Technology from $85.00 to $80.00 and set a "buy" rating on the stock in a research note on Friday. Raymond James Financial reaffirmed an "outperform" rating and issued a $90.00 price target (down previously from $110.00) on shares of Marvell Technology in a research note on Friday, May 30th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $124.00 target price on shares of Marvell Technology in a research note on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Marvell Technology currently has an average rating of "Moderate Buy" and an average target price of $93.68.

Marvell Technology Stock Up 3.3%

Shares of NASDAQ:MRVL opened at $77.23 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 0.22. The business has a fifty day moving average of $74.90 and a two-hundred day moving average of $71.08. The stock has a market cap of $66.71 billion, a P/E ratio of -135.49, a PEG ratio of 0.81 and a beta of 1.83. Marvell Technology has a 52-week low of $47.08 and a 52-week high of $127.48.

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

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $68.52, for a total transaction of $102,780.00. Following the sale, the chief financial officer owned 121,348 shares in the company, valued at $8,314,764.96. This represents a 1.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Panteha Dixon sold 1,283 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $68.50, for a total value of $87,885.50. Following the sale, the chief accounting officer owned 29,572 shares in the company, valued at approximately $2,025,682. This trade represents a 4.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,783 shares of company stock worth $407,716 in the last quarter. 0.19% of the stock is owned by company insiders.

Institutional Investors Weigh In On Marvell Technology

Large investors have recently bought and sold shares of the stock. First Horizon Advisors Inc. boosted its position in shares of Marvell Technology by 6.9% in the second quarter. First Horizon Advisors Inc. now owns 2,115 shares of the semiconductor company's stock worth $164,000 after buying an additional 137 shares during the period. Richards Merrill & Peterson Inc. boosted its position in shares of Marvell Technology by 4.0% in the second quarter. Richards Merrill & Peterson Inc. now owns 3,606 shares of the semiconductor company's stock worth $279,000 after buying an additional 139 shares during the period. Retirement Planning Group LLC NY boosted its position in shares of Marvell Technology by 4.0% in the second quarter. Retirement Planning Group LLC NY now owns 3,722 shares of the semiconductor company's stock worth $288,000 after buying an additional 142 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of Marvell Technology by 0.8% in the second quarter. Harbor Capital Advisors Inc. now owns 19,945 shares of the semiconductor company's stock worth $1,544,000 after buying an additional 151 shares during the period. Finally, Mayflower Financial Advisors LLC boosted its position in shares of Marvell Technology by 3.4% in the second quarter. Mayflower Financial Advisors LLC now owns 4,579 shares of the semiconductor company's stock worth $354,000 after buying an additional 151 shares during the period. Hedge funds and other institutional investors own 83.51% of the company's stock.

Marvell Technology Company Profile

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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