Marvell Technology (NASDAQ:MRVL) Stock Price Up 2% - Here's Why

Key Points

• Marvell Technology's stock price increased by 2%, reaching a high of $84.43 during trading, with a total of approximately 18.7 million shares traded.
• A quarterly dividend of $0.06 was declared, with a dividend yield of 0.3%, and is set to be paid on October 30th to shareholders of record.
• Analysts maintain a consensus rating of "Moderate Buy" with an average price target of $91.17 for Marvell Technology, despite varied outlooks from different firms.

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report)'s share price rose 2% during mid-day trading on Tuesday . The stock traded as high as $84.43 and last traded at $84.08. Approximately 18,652,866 shares changed hands during trading, a decline of 5% from the average daily volume of 19,609,256 shares. The stock had previously closed at $82.39.

Analyst Ratings Changes

MRVL has been the topic of several analyst reports. Oppenheimer reaffirmed an "outperform" rating and set a $95.00 price target on shares of Marvell Technology in a research note on Friday, August 29th. B. Riley reissued a "buy" rating and set a $115.00 price objective (up from $110.00) on shares of Marvell Technology in a report on Wednesday, June 18th. Morgan Stanley decreased their price objective on shares of Marvell Technology from $80.00 to $76.00 and set an "equal weight" rating for the company in a report on Friday, August 29th. The Goldman Sachs Group assumed coverage on shares of Marvell Technology in a report on Thursday, July 10th. They set a "neutral" rating and a $75.00 price objective for the company. Finally, Wall Street Zen raised shares of Marvell Technology from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Marvell Technology presently has a consensus rating of "Moderate Buy" and an average price target of $91.17.

Marvell Technology Price Performance

The company's fifty day moving average price is $73.33 and its 200 day moving average price is $67.70. 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 firm has a market capitalization of $72.48 billion, a price-to-earnings ratio of -646.75, a price-to-earnings-growth ratio of 1.02 and a beta of 1.85.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted 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 negative net margin of 1.43% and a positive return on equity of 11.01%. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period in the previous year, the business 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. Equities research analysts expect that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 30th. Stockholders of record on Friday, October 10th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. Marvell Technology's payout ratio is -184.62%.

Marvell Technology declared that its board has initiated a share repurchase plan on Wednesday, September 24th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the semiconductor company to purchase up to 7.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

Insider Activity

In other news, CFO Willem A. Meintjes bought 3,400 shares of Marvell Technology stock in a transaction on Thursday, September 25th. The stock was purchased at an average cost of $78.03 per share, with a total value of $265,302.00. Following the purchase, the chief financial officer directly owned 132,159 shares of the company's stock, valued at approximately $10,312,366.77. This trade represents a 2.64% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mark Casper sold 3,000 shares of the business's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $72.35, for a total transaction of $217,050.00. Following the transaction, the executive vice president directly owned 17,163 shares of the company's stock, valued at $1,241,743.05. The trade was a 14.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders acquired a total of 27,200 shares of company stock worth $2,109,632 over the last three months. Insiders own 0.33% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. First Horizon Advisors Inc. boosted its stake in Marvell Technology by 6.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,115 shares of the semiconductor company's stock valued at $164,000 after purchasing an additional 137 shares during the period. Richards Merrill & Peterson Inc. raised its position in shares of Marvell Technology by 4.0% during the 2nd 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 in the last quarter. Retirement Planning Group LLC NY raised its position in shares of Marvell Technology by 4.0% during the 2nd 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 in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Marvell Technology by 0.8% during the 2nd 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 in the last quarter. Finally, Mayflower Financial Advisors LLC raised its position in shares of Marvell Technology by 3.4% during the 2nd 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 in the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.