Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report)'s stock price fell 1.8% during trading on Tuesday . The company traded as low as $83.10 and last traded at $84.26. 13,137,603 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 19,480,797 shares. The stock had previously closed at $85.84.
Analysts Set New Price Targets
MRVL has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Marvell Technology from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Summit Redstone set a $105.00 price objective on shares of Marvell Technology in a research note on Wednesday, October 15th. JPMorgan Chase & Co. lowered their target price on shares of Marvell Technology from $130.00 to $120.00 and set an "overweight" rating on the stock in a research report on Friday, August 29th. The Goldman Sachs Group started coverage on Marvell Technology in a research report on Thursday, July 10th. They issued a "neutral" rating and a $75.00 price target for the company. Finally, Needham & Company LLC increased their price objective on Marvell Technology from $80.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, September 25th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Marvell Technology currently has a consensus rating of "Moderate Buy" and an average price target of $93.06.
Check Out Our Latest Analysis on MRVL
Marvell Technology Stock Down 1.8%
The firm has a 50-day moving average of $76.73 and a two-hundred day moving average of $70.02. The firm has a market cap of $72.64 billion, a price-to-earnings ratio of -648.15, a PEG ratio of 1.07 and a beta of 1.94. The company has a current ratio of 1.88, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30.
Marvell Technology (NASDAQ:MRVL - Get Free Report) last posted its quarterly earnings data on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.67. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.01 billion. Marvell Technology had a negative net margin of 1.43% and a positive return on equity of 11.01%. The business's revenue was up 57.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.30 EPS. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. As a group, sell-side analysts predict that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.
Marvell Technology Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 30th. Shareholders of record on Friday, October 10th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, October 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. Marvell Technology's payout ratio is currently -184.62%.
Marvell Technology announced that its Board of Directors has initiated a stock buyback plan on Wednesday, September 24th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 7.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.
Insider Buying and Selling at Marvell Technology
In other Marvell Technology news, CFO Willem A. Meintjes acquired 3,400 shares of Marvell Technology stock in a transaction dated Thursday, September 25th. The stock was bought at an average cost of $78.03 per share, with a total value of $265,302.00. Following the acquisition, the chief financial officer owned 132,159 shares of the company's stock, valued at approximately $10,312,366.77. The trade was a 2.64% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew J. Murphy bought 13,600 shares of the stock in a transaction that occurred on Thursday, September 25th. The stock was acquired at an average cost of $77.09 per share, for a total transaction of $1,048,424.00. Following the purchase, the chief executive officer owned 268,637 shares of the company's stock, valued at $20,709,226.33. This trade represents a 5.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 27,200 shares of company stock worth $2,109,632. Corporate insiders own 0.33% of the company's stock.
Institutional Trading of Marvell Technology
Several institutional investors have recently bought and sold shares of MRVL. Hughes Financial Services LLC acquired a new stake in shares of Marvell Technology in the 1st quarter valued at $26,000. Rossby Financial LCC bought a new position in Marvell Technology in the first quarter valued at about $27,000. Financial Connections Group Inc. increased its position in Marvell Technology by 776.0% in the first quarter. Financial Connections Group Inc. now owns 438 shares of the semiconductor company's stock worth $27,000 after purchasing an additional 388 shares during the period. Game Plan Financial Advisors LLC acquired a new stake in Marvell Technology in the second quarter worth about $27,000. Finally, Vision Financial Markets LLC bought a new stake in Marvell Technology during the 1st quarter worth about $28,000. Institutional investors and hedge funds own 83.51% of the company's stock.
About Marvell Technology
(
Get Free Report)
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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