Marvell Technology (NASDAQ:MRVL) Trading Up 2.8% - Still a Buy?

Key Points

• Marvell Technology's shares rose by 2.8%, trading between $86.20 and $87.31, with a higher trading volume of 21.65 million shares compared to the average of 19.62 million.
• Analysts have set varied target prices for Marvell Technology, with a consensus average price target of $91.67, and ratings ranging from "Strong Buy" to "Hold" across different brokerages.
• The company announced a $5.00 billion share repurchase program and recently declared a quarterly dividend of $0.06 per share, showcasing both confidence in its stock value and commitment to returning value to shareholders.

Shares of Marvell Technology, Inc. (NASDAQ:MRVL - Get Free Report) traded up 2.8% during trading on Thursday . The company traded as high as $87.31 and last traded at $86.20. 21,653,032 shares were traded during trading, an increase of 10% from the average session volume of 19,622,883 shares. The stock had previously closed at $83.89.

Analysts Set New Price Targets

A number of brokerages recently commented on MRVL. The Goldman Sachs Group began coverage on Marvell Technology in a research report on Thursday, July 10th. They set a "neutral" rating and a $75.00 price target for the company. UBS Group lowered their target price on Marvell Technology from $110.00 to $95.00 and set a "buy" rating on the stock in a research note on Friday, August 29th. Deutsche Bank Aktiengesellschaft boosted their target price on Marvell Technology from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, September 25th. B. Riley reiterated a "buy" rating and issued a $115.00 price target (up from $110.00) on shares of Marvell Technology in a research report on Wednesday, June 18th. Finally, Morgan Stanley reduced their price target on Marvell Technology from $80.00 to $76.00 and set an "equal weight" rating for the company in a research report on Friday, August 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat, Marvell Technology presently has an average rating of "Moderate Buy" and an average price target of $91.67.

Marvell Technology Trading Up 2.8%

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 company has a market capitalization of $74.31 billion, a P/E ratio of -663.08, a PEG ratio of 1.03 and a beta of 1.94. The stock has a fifty day moving average of $73.78 and a 200 day moving average of $67.92.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings data on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share for the quarter, meeting analysts' consensus estimates of $0.67. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.01 billion. Marvell Technology had a positive return on equity of 11.01% and a negative net margin of 1.43%.The business's quarterly revenue was up 57.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 earnings per share. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. As a group, equities research analysts anticipate 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 will be paid on Thursday, October 30th. Shareholders of record on Friday, October 10th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, October 10th. Marvell Technology's dividend payout ratio (DPR) is currently -184.62%.

Marvell Technology declared that its Board of Directors has authorized a share repurchase program on Wednesday, September 24th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 7.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Insider Activity at Marvell Technology

In other Marvell Technology news, CEO Matthew J. Murphy acquired 13,600 shares of the company's stock in a transaction on Thursday, September 25th. The shares were bought at an average cost of $77.09 per share, for a total transaction of $1,048,424.00. Following the completion of the purchase, the chief executive officer owned 268,637 shares in the company, valued at $20,709,226.33. This trade represents a 5.33% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark Casper sold 3,000 shares of the company'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 completion of the sale, the executive vice president directly owned 17,163 shares in the company, valued at $1,241,743.05. This trade represents a 14.88% decrease in their position. The disclosure for this sale can be found here. Insiders have bought 27,200 shares of company stock worth $2,109,632 in the last 90 days. 0.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Hughes Financial Services LLC bought a new position in shares of Marvell Technology in the first quarter valued at approximately $26,000. Rossby Financial LCC bought a new stake in Marvell Technology during the first quarter worth approximately $27,000. Financial Connections Group Inc. boosted its holdings in Marvell Technology by 776.0% during the first quarter. Financial Connections Group Inc. now owns 438 shares of the semiconductor company's stock worth $27,000 after buying an additional 388 shares in the last quarter. Game Plan Financial Advisors LLC bought a new stake in Marvell Technology during the second quarter worth approximately $27,000. Finally, Vision Financial Markets LLC bought a new stake in Marvell Technology during the first quarter worth approximately $28,000. 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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