Marvell Technology (NASDAQ:MRVL) Trading 3.4% Higher – Here’s What Happened

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) traded up 3.4% on Wednesday . The company traded as high as $84.29 and last traded at $82.55. 16,858,265 shares were traded during mid-day trading, an increase of 8% from the average session volume of 15,672,292 shares. The stock had previously closed at $79.80.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MRVL. Wells Fargo & Company raised their price target on shares of Marvell Technology from $90.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, December 3rd. B. Riley reiterated a “buy” rating and issued a $130.00 price objective (up from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 3rd. Oppenheimer reissued an “outperform” rating and set a $150.00 target price (up from $115.00) on shares of Marvell Technology in a research note on Wednesday, December 3rd. Summit Insights upgraded Marvell Technology from a “hold” rating to a “buy” rating in a report on Wednesday, December 3rd. Finally, Needham & Company LLC lifted their price objective on Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, December 3rd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $115.09.

Marvell Technology Price Performance

The stock has a market capitalization of $70.01 billion, a price-to-earnings ratio of 28.96, a P/E/G ratio of 0.78 and a beta of 1.95. The company has a quick ratio of 1.64, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. The stock has a fifty day moving average of $85.90 and a 200-day moving average of $80.97.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings data on Tuesday, December 2nd. The semiconductor company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.02. Marvell Technology had a net margin of 31.75% and a return on equity of 13.15%. The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the previous year, the firm earned $0.43 EPS. The company’s revenue 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 research analysts predict that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

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

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

Insider Buying and Selling at Marvell Technology

In other news, EVP Mark Casper sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $93.08, for a total transaction of $465,400.00. Following the transaction, the executive vice president directly owned 19,418 shares in the company, valued at approximately $1,807,427.44. This trade represents a 20.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Game Plan Financial Advisors LLC acquired a new stake in shares of Marvell Technology during the second quarter worth about $27,000. Atlantic Edge Private Wealth Management LLC lifted its position in Marvell Technology by 160.0% during the 3rd quarter. Atlantic Edge Private Wealth Management LLC now owns 325 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 200 shares during the period. Kiker Wealth Management LLC grew its stake in shares of Marvell Technology by 374.7% in the 2nd quarter. Kiker Wealth Management LLC now owns 356 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 281 shares during the last quarter. Nova Wealth Management Inc. grew its stake in shares of Marvell Technology by 3,922.2% in the 3rd quarter. Nova Wealth Management Inc. now owns 362 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 353 shares during the last quarter. Finally, Westside Investment Management Inc. increased its holdings in shares of Marvell Technology by 62.5% in the second quarter. Westside Investment Management Inc. now owns 416 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 160 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

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.