Marvell Technology's (MRVL) "Outperform" Rating Reaffirmed at Oppenheimer

Key Points

• Oppenheimer has reiterated its "outperform" rating for Marvell Technology (MRVL), setting a price target of $95.00, indicating a potential upside of 47.26% from the company's recent closing price.
• Marvell's stock recently declined by 16.5%, closing at $64.51, following a series of adjustments by various research firms regarding their price targets and ratings.
• The company's latest earnings report revealed a 57.6% year-over-year revenue increase, with earnings per share of $0.67, aligning with consensus estimates.

Marvell Technology (NASDAQ:MRVL - Get Free Report)'s stock had its "outperform" rating reiterated by investment analysts at Oppenheimer in a note issued to investors on Friday,Benzinga reports. They currently have a $95.00 price objective on the semiconductor company's stock. Oppenheimer's target price points to a potential upside of 47.26% from the company's previous close.

Several other research firms also recently commented on MRVL. Wells Fargo & Company reduced their price objective on Marvell Technology from $95.00 to $90.00 and set an "overweight" rating on the stock in a report on Friday. KeyCorp reduced their price objective on Marvell Technology from $115.00 to $90.00 and set an "overweight" rating on the stock in a report on Friday, May 30th. The Goldman Sachs Group initiated coverage on Marvell Technology in a report on Thursday, July 10th. They set a "neutral" rating and a $75.00 price objective on the stock. Rosenblatt Securities reduced their price objective on Marvell Technology from $124.00 to $95.00 and set a "buy" rating on the stock in a report on Friday. Finally, Redburn Atlantic initiated coverage on Marvell Technology in a report on Wednesday, May 28th. They set a "neutral" rating and a $67.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $90.97.

Marvell Technology Trading Down 16.5%

Shares of NASDAQ MRVL traded down $12.72 during midday trading on Friday, hitting $64.51. The company's stock had a trading volume of 53,367,292 shares, compared to its average volume of 18,536,846. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. The business's 50 day moving average is $74.90 and its two-hundred day moving average is $71.08. Marvell Technology has a 12-month low of $47.08 and a 12-month high of $127.48. The firm has a market cap of $55.73 billion, a P/E ratio of -113.75, a price-to-earnings-growth ratio of 0.81 and a beta of 1.83.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings results on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. Marvell Technology had a positive return on equity of 8.42% and a negative net margin of 7.56%.The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the prior year, the business posted $0.30 earnings per share. The company's revenue for the quarter 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, equities research analysts expect that Marvell Technology will post 0.91 EPS for the current year.

Insiders Place Their Bets

In other Marvell Technology news, EVP Mark Casper sold 3,000 shares of Marvell Technology stock in a transaction dated Friday, July 18th. The stock was 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 owned 17,163 shares of the company's stock, valued at approximately $1,241,743.05. The trade was a 14.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $68.52, for a total value of $102,780.00. Following the sale, the chief financial officer directly owned 121,348 shares of the company's stock, valued at approximately $8,314,764.96. This represents a 1.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,783 shares of company stock valued at $407,716. 0.19% of the stock is owned by company insiders.

Institutional Trading of Marvell Technology

Hedge funds have recently modified their holdings of the stock. First Horizon Advisors Inc. lifted its position in shares of 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 acquiring an additional 137 shares during the period. Richards Merrill & Peterson Inc. lifted 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 valued at $279,000 after acquiring an additional 139 shares during the period. Retirement Planning Group LLC NY lifted 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 valued at $288,000 after acquiring an additional 142 shares during the period. Harbor Capital Advisors Inc. lifted 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 valued at $1,544,000 after acquiring an additional 151 shares during the period. Finally, Mayflower Financial Advisors LLC lifted 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 valued at $354,000 after acquiring an additional 151 shares during the period. Hedge funds and other institutional investors 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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