Marvell Technology (NASDAQ:MRVL) Trading Up 1.7% After Dividend Announcement

Key Points

• Marvell Technology's stock rose by 1.7% following the announcement of a dividend, which will provide shareholders with $0.06 per share payable on October 30th.
• The company's recent earnings report showed revenue growth of 57.6% year-over-year, with a quarterly revenue of $2.01 billion and an EPS of $0.67.
• Analysts have given Marvell Technology an average rating of "Moderate Buy" with an average target price of $90.50, indicating positive sentiment despite recent price target adjustments.

Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report)'s stock price rose 1.7% during mid-day trading on Monday following a dividend announcement from the company. The company traded as high as $75.93 and last traded at $75.53. Approximately 19,376,663 shares changed hands during trading, an increase of 1% from the average daily volume of 19,249,684 shares. The stock had previously closed at $74.26.

The newly announced dividend which will be paid on Thursday, October 30th. Stockholders of record on Friday, October 10th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, October 10th. Marvell Technology's dividend payout ratio (DPR) is presently -184.62%.

Wall Street Analysts Forecast Growth

MRVL has been the topic of a number of research analyst reports. Jefferies Financial Group reduced their price target on shares of Marvell Technology from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Friday, August 29th. Piper Sandler restated an "overweight" rating and issued a $85.00 price target (down from $95.00) on shares of Marvell Technology in a research note on Friday, May 30th. BNP Paribas upgraded shares of Marvell Technology to a "strong-buy" rating in a research note on Friday, August 29th. Benchmark restated a "buy" rating and issued a $95.00 price target on shares of Marvell Technology in a research note on Friday, August 29th. Finally, China Renaissance started coverage on shares of Marvell Technology in a research report on Thursday, June 5th. They set a "buy" rating and a $110.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $90.50.

Marvell Technology Stock Up 0.3%

The firm has a market cap of $65.31 billion, a P/E ratio of -583.92, a price-to-earnings-growth ratio of 0.90 and a beta of 1.85. The stock's 50 day simple moving average is $72.51 and its 200 day simple moving average is $67.25. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.44 and a current ratio of 1.88.

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 analysts' consensus estimates of $0.67. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.01 billion. Marvell Technology had a negative net margin of 1.43% and a positive return on equity of 11.01%. Marvell Technology's quarterly revenue was up 57.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.30 EPS. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. Research analysts anticipate that Marvell Technology, Inc. will post 0.91 EPS for the current year.

Insider Transactions at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 3,000 shares of Marvell Technology stock in a transaction on 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marvell Technology

A number of hedge funds have recently bought and sold shares of the company. First Horizon Advisors Inc. boosted its holdings 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 worth $164,000 after acquiring an additional 137 shares during the last quarter. Richards Merrill & Peterson Inc. boosted its holdings in 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 acquiring an additional 139 shares during the last quarter. Retirement Planning Group LLC NY boosted its holdings in 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 acquiring an additional 142 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in 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 acquiring an additional 151 shares during the last quarter. Finally, Mayflower Financial Advisors LLC boosted its holdings in 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 acquiring an additional 151 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

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.