Wells Fargo & Company Has Lowered Expectations for Marvell Technology (NASDAQ:MRVL) Stock Price

Key Points

• Wells Fargo & Company has reduced its target price for Marvell Technology stock from $95.00 to $90.00, while still maintaining an "overweight" rating, indicating a potential upside of 40.11% from its previous close.
• Marvell Technology has received a mix of ratings from various brokerages, with one analyst issuing a "Strong Buy" and 23 others giving it a "Buy" rating, reflecting overall positive sentiment despite recent price target reductions.
• The company's latest quarterly earnings report met analysts' expectations with $0.67 EPS and revenue of $2.01 billion, marking a significant year-over-year revenue increase of 57.6%.

Marvell Technology (NASDAQ:MRVL - Get Free Report) had its target price decreased by stock analysts at Wells Fargo & Company from $95.00 to $90.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the semiconductor company's stock. Wells Fargo & Company's price objective would suggest a potential upside of 40.11% from the company's previous close.

Several other brokerages have also recently issued reports on MRVL. Melius cut shares of Marvell Technology from a "buy" rating to a "hold" rating and set a $66.00 price objective on the stock. in a research note on Thursday, May 22nd. Bank of America reaffirmed a "neutral" rating and issued a $78.00 price objective (down previously from $90.00) on shares of Marvell Technology in a research note on Friday. Melius Research lifted their price objective on shares of Marvell Technology from $67.00 to $76.00 and gave the stock a "hold" rating in a research note on Wednesday, June 18th. Barclays reaffirmed an "overweight" rating and issued a $80.00 price objective on shares of Marvell Technology in a research note on Friday. Finally, UBS Group reaffirmed a "buy" rating on shares of Marvell Technology in a research note on Monday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.10.

Marvell Technology Stock Performance

NASDAQ:MRVL traded down $12.99 during mid-day trading on Friday, hitting $64.24. The stock had a trading volume of 39,491,108 shares, compared to its average volume of 18,437,035. The stock has a market capitalization of $55.49 billion, a price-to-earnings ratio of -112.70, a P/E/G ratio of 0.81 and a beta of 1.83. The company has a 50 day simple moving average of $74.90 and a 200-day simple moving average of $71.08. Marvell Technology has a 52 week low of $47.08 and a 52 week high of $127.48. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22.

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

Insider Buying and Selling

In related news, CFO Willem A. Meintjes sold 1,500 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $68.52, for a total transaction of $102,780.00. Following the transaction, the chief financial officer directly owned 121,348 shares in the company, valued at $8,314,764.96. The trade was a 1.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark Casper sold 3,000 shares of the business's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $72.35, for a total value of $217,050.00. Following the transaction, the executive vice president owned 17,163 shares in the company, valued at $1,241,743.05. This represents a 14.88% decrease in their ownership of the stock. 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. Insiders own 0.19% of the company's stock.

Institutional Investors Weigh In On Marvell Technology

Several large investors have recently modified their holdings of MRVL. Bank Pictet & Cie Europe AG boosted its holdings in shares of Marvell Technology by 0.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 66,710 shares of the semiconductor company's stock worth $7,368,000 after acquiring an additional 460 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Marvell Technology by 3.2% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 183,727 shares of the semiconductor company's stock worth $20,293,000 after acquiring an additional 5,727 shares in the last quarter. Keel Point LLC boosted its holdings in shares of Marvell Technology by 8.9% in the 4th quarter. Keel Point LLC now owns 3,373 shares of the semiconductor company's stock worth $373,000 after acquiring an additional 275 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in Marvell Technology by 3.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 38,607 shares of the semiconductor company's stock worth $4,264,000 after buying an additional 1,362 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co acquired a new position in Marvell Technology during the 4th quarter worth $607,000. 83.51% of the stock is currently owned by institutional investors.

About Marvell Technology

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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