Marvell Technology (NASDAQ:MRVL) Given New $200.00 Price Target at Bank of America

Key Points

• Bank of America raised its price target on Marvell Technology from $125 to $200 and kept a buy rating, implying roughly 13.99% upside from the prior close.
• Other analysts have also turned more positive on MRVL, including Oppenheimer lifting its target to $170 and JPMorgan to $135, while the broader consensus remains a Moderate Buy with an average target of $128.79.
• Marvell shares were up 6.7% to $175.45 on the day, near their 52-week high of $182.31, after the company recently topped earnings and revenue expectations with 22.1% year-over-year revenue growth.

Marvell Technology (NASDAQ:MRVL - Get Free Report) had its target price lifted by analysts at Bank of America from $125.00 to $200.00 in a research report issued on Wednesday. The brokerage currently has a "buy" rating on the semiconductor company's stock. Bank of America's price target suggests a potential upside of 13.99% from the stock's previous close.

A number of other research firms also recently issued reports on MRVL. Oppenheimer upped their price target on shares of Marvell Technology from $150.00 to $170.00 and gave the company an "outperform" rating in a research note on Wednesday, April 15th. JPMorgan Chase & Co. raised their price target on shares of Marvell Technology from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, March 6th. The Goldman Sachs Group restated a "neutral" rating and issued a $125.00 price target on shares of Marvell Technology in a report on Wednesday. Erste Group Bank assumed coverage on shares of Marvell Technology in a report on Thursday, April 2nd. They issued a "buy" rating on the stock. Finally, Morgan Stanley raised 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. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned 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 a consensus target price of $128.79.

Marvell Technology Stock Up 6.7%

NASDAQ MRVL traded up $10.95 during trading hours on Wednesday, reaching $175.45. 18,586,441 shares of the company's stock traded hands, compared to its average volume of 20,734,227. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.58. The firm has a market cap of $153.43 billion, a PE ratio of 56.88, a PEG ratio of 1.55 and a beta of 2.25. Marvell Technology has a 52-week low of $58.61 and a 52-week high of $182.31. The firm has a 50-day simple moving average of $119.26 and a 200 day simple moving average of $96.85.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its earnings results on Thursday, March 5th. The semiconductor company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.01. The company had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $2.21 billion. Marvell Technology had a net margin of 32.58% and a return on equity of 14.22%. The firm's quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the company posted $0.60 earnings per share. Marvell Technology has set its Q1 2027 guidance at 0.740-0.840 EPS. Sell-side analysts anticipate that Marvell Technology will post 3.04 EPS for the current fiscal year.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 10,000 shares of the business's stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $135.50, for a total transaction of $1,355,000.00. Following the sale, the executive vice president directly owned 35,878 shares in the company, valued at $4,861,469. This represents a 21.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sandeep Bharathi sold 66,892 shares of the company's stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $130.35, for a total transaction of $8,719,372.20. Following the sale, the insider owned 55,199 shares in the company, valued at $7,195,189.65. The trade was a 54.79% decrease in their ownership of the stock. 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 three months, insiders sold 233,560 shares of company stock valued at $27,870,662. 0.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On Marvell Technology

Hedge funds have recently modified their holdings of the stock. Intech Investment Management LLC lifted its holdings in Marvell Technology by 3.9% in the first quarter. Intech Investment Management LLC now owns 28,784 shares of the semiconductor company's stock valued at $1,772,000 after acquiring an additional 1,085 shares during the period. Baird Financial Group Inc. lifted its holdings in Marvell Technology by 22.7% in the second quarter. Baird Financial Group Inc. now owns 17,417 shares of the semiconductor company's stock valued at $1,348,000 after acquiring an additional 3,221 shares during the period. Flow Traders U.S. LLC acquired a new stake in Marvell Technology in the second quarter valued at $354,000. Treasurer of the State of North Carolina lifted its holdings in Marvell Technology by 3.0% in the second quarter. Treasurer of the State of North Carolina now owns 403,818 shares of the semiconductor company's stock valued at $31,256,000 after acquiring an additional 11,572 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in Marvell Technology by 1.0% in the second quarter. Alliancebernstein L.P. now owns 411,569 shares of the semiconductor company's stock valued at $31,855,000 after acquiring an additional 4,060 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

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.

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