Marvell Technology (NASDAQ:MRVL) Stock Price Up 3.1% - What's Next?

Key Points

• Marvell Technology's stock price increased by 3.1% to $88.89, with about 14.9 million shares traded, indicating a decline in trading volume compared to its average.
• Several brokerages have raised their price targets for Marvell Technology, with Oppenheimer setting a new target of $115.00 and a consensus price target now at $92.67.
• Marvell Technology recently announced a quarterly dividend of $0.06 per share, along with a stock buyback program allowing for the repurchase of up to $5.0 billion in shares.

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) rose 3.1% on Wednesday . The company traded as high as $89.46 and last traded at $88.89. Approximately 14,945,993 shares traded hands during mid-day trading, a decline of 24% from the average daily volume of 19,593,156 shares. The stock had previously closed at $86.22.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MRVL. Oppenheimer increased their price target on shares of Marvell Technology from $95.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, October 10th. Evercore ISI cut their target price on shares of Marvell Technology from $133.00 to $122.00 and set an "outperform" rating on the stock in a report on Friday, August 29th. B. Riley reiterated a "buy" rating and issued a $115.00 target price (up from $110.00) on shares of Marvell Technology in a report on Wednesday, June 18th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $75.00 target price on shares of Marvell Technology in a report on Friday, August 29th. Finally, Barclays reiterated an "overweight" rating and issued a $80.00 target price on shares of Marvell Technology in a report on Friday, August 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Marvell Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.67.

Marvell Technology Stock Up 3.1%

The company has a debt-to-equity ratio of 0.30, a current ratio of 1.88 and a quick ratio of 1.44. The company has a market capitalization of $76.63 billion, a price-to-earnings ratio of -683.77, a PEG ratio of 1.09 and a beta of 1.94. The firm has a 50-day moving average price of $75.83 and a two-hundred day moving average price of $69.13.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last announced its earnings results on Thursday, August 28th. The semiconductor company reported $0.67 EPS for the quarter, hitting 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 analysts' expectations of $2.01 billion. During the same quarter in the prior year, the company posted $0.30 earnings per share. The firm's 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. As a group, sell-side analysts anticipate that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

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

Marvell Technology declared that its Board of Directors has approved a stock buyback program on Wednesday, September 24th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes bought 3,400 shares of Marvell Technology stock in a transaction that occurred on Thursday, September 25th. The stock was acquired at an average price of $78.03 per share, for a total transaction of $265,302.00. Following the completion of the acquisition, the chief financial officer owned 132,159 shares of the company's stock, valued at $10,312,366.77. This trade represents a 2.64% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew J. Murphy purchased 13,600 shares of the business's stock in a transaction on Thursday, September 25th. The stock was purchased at an average price of $77.09 per share, with a total value of $1,048,424.00. Following the purchase, the chief executive officer owned 268,637 shares of the company's stock, valued at approximately $20,709,226.33. The trade was a 5.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 27,200 shares of company stock valued at $2,109,632 in the last three months. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Marvell Technology

A number of large investors have recently added to or reduced their stakes in MRVL. Yousif Capital Management LLC lifted its stake in Marvell Technology by 8.4% in the first quarter. Yousif Capital Management LLC now owns 15,057 shares of the semiconductor company's stock valued at $927,000 after acquiring an additional 1,164 shares during the last quarter. Dynamic Advisor Solutions LLC increased its holdings in Marvell Technology by 5.0% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 4,313 shares of the semiconductor company's stock valued at $266,000 after buying an additional 206 shares during the period. Brighton Jones LLC increased its holdings in Marvell Technology by 15.8% in the 1st quarter. Brighton Jones LLC now owns 10,980 shares of the semiconductor company's stock valued at $676,000 after buying an additional 1,501 shares during the period. Sagespring Wealth Partners LLC increased its holdings in Marvell Technology by 9.5% in the 1st quarter. Sagespring Wealth Partners LLC now owns 4,093 shares of the semiconductor company's stock valued at $252,000 after buying an additional 355 shares during the period. Finally, QRG Capital Management Inc. increased its holdings in Marvell Technology by 82.4% in the 1st quarter. QRG Capital Management Inc. now owns 70,127 shares of the semiconductor company's stock valued at $4,318,000 after buying an additional 31,676 shares during the period. Institutional investors and hedge funds 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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