Marvell Technology (NASDAQ:MRVL) Receives “Buy” Rating from Citigroup

Marvell Technology (NASDAQ:MRVL)‘s stock had its “buy” rating reiterated by equities research analysts at Citigroup in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $114.00 target price on the semiconductor company’s stock. Citigroup’s target price points to a potential upside of 14.08% from the stock’s previous close.

MRVL has been the topic of several other research reports. Benchmark increased their price objective on shares of Marvell Technology from $95.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company boosted their target price on shares of Marvell Technology from $90.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday. Hsbc Global Res raised shares of Marvell Technology to a “hold” rating in a report on Monday, November 24th. Raymond James Financial started coverage on shares of Marvell Technology in a research report on Thursday, November 20th. They set a “strong-buy” rating and a $121.00 price objective for the company. Finally, Piper Sandler set a $110.00 price objective on Marvell Technology in a research note on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.56.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL traded up $1.74 during midday trading on Friday, hitting $99.93. 3,602,819 shares of the stock traded hands, compared to its average volume of 19,293,463. The firm has a market capitalization of $86.15 billion, a P/E ratio of 35.04, a PEG ratio of 1.20 and a beta of 1.93. Marvell Technology has a one year low of $47.08 and a one year high of $127.48. 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 firm has a 50-day moving average of $87.44 and a two-hundred day moving average of $76.92.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings data on Tuesday, December 2nd. The semiconductor company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. Marvell Technology had a return on equity of 13.31% and a net margin of 31.75%.The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the prior year, the business earned $0.43 earnings per share. Marvell Technology’s revenue for the quarter was up 36.8% compared to the same quarter last year. Marvell Technology has set its Q4 2026 guidance at 0.740-0.840 EPS. On average, equities analysts forecast that Marvell Technology will post 0.91 EPS for the current fiscal year.

Marvell Technology announced that its Board of Directors has initiated a share buyback program on Wednesday, September 24th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the semiconductor company to buy up to 7.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Marvell Technology news, COO Chris Koopmans acquired 6,800 shares of the stock in a transaction dated Thursday, September 25th. The shares were acquired at an average cost of $78.03 per share, for a total transaction of $530,604.00. Following the completion of the transaction, the chief operating officer directly owned 104,825 shares of the company’s stock, valued at approximately $8,179,494.75. The trade was a 6.94% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Sandeep Bharathi acquired 3,400 shares of the company’s stock in a transaction dated Thursday, September 25th. The stock was acquired at an average cost of $78.03 per share, with a total value of $265,302.00. Following the purchase, the insider owned 73,392 shares of the company’s stock, valued at approximately $5,726,777.76. This trade represents a 4.86% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 27,200 shares of company stock valued at $2,109,632 in the last ninety days. Insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Marvell Technology by 23.5% during the third quarter. Vanguard Group Inc. now owns 79,610,208 shares of the semiconductor company’s stock valued at $6,692,830,000 after acquiring an additional 15,166,976 shares in the last quarter. State Street Corp lifted its stake in Marvell Technology by 2.8% in the 3rd quarter. State Street Corp now owns 21,157,092 shares of the semiconductor company’s stock worth $1,778,677,000 after purchasing an additional 583,832 shares in the last quarter. Brown Advisory Inc. boosted its holdings in shares of Marvell Technology by 8.0% during the 2nd quarter. Brown Advisory Inc. now owns 20,840,336 shares of the semiconductor company’s stock valued at $1,613,044,000 after purchasing an additional 1,539,809 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Marvell Technology by 59.7% during the third quarter. Ameriprise Financial Inc. now owns 16,624,827 shares of the semiconductor company’s stock valued at $1,397,751,000 after purchasing an additional 6,217,952 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Marvell Technology by 47.0% in the third quarter. Franklin Resources Inc. now owns 11,903,051 shares of the semiconductor company’s stock worth $1,000,689,000 after purchasing an additional 3,805,431 shares during the last quarter. 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.