Marvell Technology (NASDAQ:MRVL) Stock Price Up 1.4% - Still a Buy?

Key Points

• Marvell Technology's stock price rose by 1.4%, trading at $66.92, with a significant drop in trading volume compared to its average.
• Recent analyst reports have assigned various ratings to the stock, with Oppenheimer maintaining an "outperform" rating and a target price of $95.00, indicating a generally positive outlook.
• Marvell reported earnings of $0.67 EPS for the last quarter, matching expectations, and experienced a substantial year-over-year revenue increase of 57.6%.

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report)'s share price was up 1.4% during mid-day trading on Tuesday . The stock traded as high as $66.64 and last traded at $66.92. Approximately 4,999,200 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 19,049,004 shares. The stock had previously closed at $66.00.

Analyst Ratings Changes

Several research analysts have recently issued reports on MRVL shares. Oppenheimer restated an "outperform" rating and issued a $95.00 target price on shares of Marvell Technology in a report on Friday, August 29th. China Renaissance started coverage on shares of Marvell Technology in a report on Thursday, June 5th. They issued a "buy" rating and a $110.00 target price on the stock. Raymond James Financial restated an "outperform" rating and issued a $90.00 target price (down previously from $110.00) on shares of Marvell Technology in a report on Friday, May 30th. BNP Paribas upgraded shares of Marvell Technology to a "strong-buy" rating in a report on Friday, August 29th. Finally, KeyCorp cut their price target on shares of Marvell Technology from $115.00 to $90.00 and set an "overweight" rating on the stock in a report on Friday, May 30th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.50.

Marvell Technology Stock Up 1.2%

The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.44 and a current ratio of 1.88. The stock has a market cap of $57.58 billion, a PE ratio of -514.09, a price-to-earnings-growth ratio of 0.77 and a beta of 1.85. The company's 50-day moving average price is $73.23 and its 200 day moving average price is $68.47.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its earnings results on Thursday, August 28th. The semiconductor company reported $0.67 EPS for the quarter, meeting analysts' consensus estimates of $0.67. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.01 billion. Marvell Technology had a positive return on equity of 11.01% and a negative net margin of 1.43%.The company's quarterly revenue was up 57.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 EPS. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. As a group, analysts forecast that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Friday, July 11th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.4%. The ex-dividend date was Friday, July 11th. Marvell Technology's dividend payout ratio is presently -184.62%.

Insiders Place Their Bets

In other news, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $68.52, for a total transaction of $102,780.00. Following the transaction, the chief financial officer owned 121,348 shares in the company, valued at approximately $8,314,764.96. This trade represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Panteha Dixon sold 1,283 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $68.50, for a total value of $87,885.50. Following the transaction, the chief accounting officer owned 29,572 shares in the company, valued at approximately $2,025,682. This 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 over the last quarter. Company insiders own 0.33% of the company's stock.

Hedge Funds Weigh In On Marvell Technology

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