Marvell Technology (NASDAQ:MRVL) Stock Price Up 3.4% – What’s Next?

Marvell Technology, Inc. (NASDAQ:MRVL)’s share price traded up 3.4% during mid-day trading on Tuesday . The company traded as high as $88.05 and last traded at $87.68. 11,365,208 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 19,309,857 shares. The stock had previously closed at $84.80.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MRVL. Piper Sandler set a $110.00 price objective on shares of Marvell Technology in a research report on Wednesday, December 3rd. UBS Group set a $100.00 price target on Marvell Technology in a research note on Wednesday, December 3rd. Cantor Fitzgerald set a $100.00 price target on Marvell Technology in a research report on Tuesday, December 16th. JPMorgan Chase & Co. lifted their price objective on Marvell Technology from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, December 3rd. Finally, Benchmark reissued a “hold” rating on shares of Marvell Technology in a research note on Tuesday. Four research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus price target of $111.25.

Marvell Technology Stock Down 1.2%

The company has a current ratio of 2.01, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The firm has a market cap of $73.48 billion, a PE ratio of 30.40, a PEG ratio of 0.85 and a beta of 1.93. The firm has a 50 day moving average price of $87.61 and a 200-day moving average price of $79.43.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings data on Tuesday, December 2nd. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.02. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Marvell Technology had a net margin of 31.75% and a return on equity of 13.15%. The company’s revenue for the quarter was up 36.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.43 EPS. Marvell Technology has set its Q4 2026 guidance at 0.740-0.840 EPS. Research analysts forecast that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 29th. Investors of record on Friday, January 9th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, January 9th. Marvell Technology’s dividend payout ratio is 8.42%.

Marvell Technology declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, September 24th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 7.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Marvell Technology news, EVP Mark Casper sold 1,253 shares of the company’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $101.00, for a total value of $126,553.00. Following the completion of the transaction, the executive vice president owned 9,023 shares in the company, valued at $911,323. This represents a 12.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.19% of the stock is currently owned by company insiders.

Institutional Trading of Marvell Technology

A number of large investors have recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC lifted its stake in Marvell Technology by 160.0% in the third quarter. Atlantic Edge Private Wealth Management LLC now owns 325 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 200 shares during the last quarter. Game Plan Financial Advisors LLC purchased a new stake in Marvell Technology in the 2nd quarter valued at $27,000. Kiker Wealth Management LLC boosted its stake in Marvell Technology by 374.7% during the 2nd quarter. Kiker Wealth Management LLC now owns 356 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 281 shares during the period. Nova Wealth Management Inc. grew its position in Marvell Technology by 3,922.2% during the 3rd quarter. Nova Wealth Management Inc. now owns 362 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 353 shares during the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new position in Marvell Technology during the 2nd quarter worth $32,000. 83.51% of the stock is owned by institutional investors and hedge funds.

About Marvell Technology

Marvell Technology Group is a global semiconductor company that designs and develops integrated circuits and related software for data infrastructure, networking, storage and connectivity markets. The company’s product portfolio includes system-on-chip (SoC) solutions, Ethernet physical-layer transceivers (PHYs), switch and switch silicon, optical interconnect components, storage controllers, and security processors. Marvell’s technology is used to enable high-performance data centers, carrier networks, enterprise and cloud storage, as well as connectivity in automotive and industrial applications.

Founded in 1995 and headquartered in Santa Clara, California, Marvell has grown through both organic development and strategic acquisitions to broaden its capabilities across networking and data interconnect.