Marvell Technology (NASDAQ:MRVL) Upgraded at Melius Research

Marvell Technology (NASDAQ:MRVL) was upgraded by analysts at Melius Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a $135.00 price target on the semiconductor company’s stock. Melius Research’s price objective suggests a potential upside of 51.02% from the company’s previous close.

MRVL has been the subject of several other research reports. Zacks Research upgraded shares of Marvell Technology from a “hold” rating to a “strong-buy” rating in a report on Friday, December 5th. Barclays increased their price objective on shares of Marvell Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 3rd. Susquehanna set a $120.00 target price on shares of Marvell Technology and gave the stock a “positive” rating in a research note on Wednesday, December 3rd. TD Cowen lifted their price objective on Marvell Technology from $90.00 to $100.00 and gave the stock a “hold” rating in a research report on Wednesday, December 3rd. Finally, Hsbc Global Res upgraded Marvell Technology to a “hold” rating in a research report on Monday, November 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $113.09.

Marvell Technology Stock Up 5.2%

Shares of NASDAQ:MRVL opened at $89.39 on Monday. The firm has a market cap of $75.81 billion, a P/E ratio of 31.36, a P/E/G ratio of 0.87 and a beta of 1.95. Marvell Technology has a 12-month low of $47.08 and a 12-month high of $127.48. The business has a fifty day simple moving average of $87.82 and a 200 day simple moving average of $80.31. The company has a quick ratio of 1.64, a current ratio of 2.01 and a debt-to-equity ratio of 0.28.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings results on Tuesday, December 2nd. The semiconductor company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.02. Marvell Technology had a return on equity of 13.15% 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 firm posted $0.43 earnings per share. The business’s quarterly revenue was up 36.8% on a year-over-year basis. Marvell Technology has set its Q4 2026 guidance at 0.740-0.840 EPS. Analysts predict that Marvell Technology will post 0.91 earnings per share for the current year.

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

Insider Buying and Selling

In other Marvell Technology news, EVP Mark Casper sold 1,253 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $101.00, for a total value of $126,553.00. Following the completion of the sale, the executive vice president owned 9,023 shares of the company’s stock, valued at approximately $911,323. This trade represents a 12.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

A number of large investors have recently modified their holdings of MRVL. Vanguard Group Inc. increased its position in shares of Marvell Technology by 23.5% during the third quarter. Vanguard Group Inc. now owns 79,610,208 shares of the semiconductor company’s stock worth $6,692,830,000 after acquiring an additional 15,166,976 shares in the last quarter. Norges Bank acquired a new position in Marvell Technology during the 2nd quarter valued at about $716,713,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Marvell Technology by 4,758.5% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,036,216 shares of the semiconductor company’s stock valued at $544,603,000 after purchasing an additional 6,891,393 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Marvell Technology by 59.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 16,624,827 shares of the semiconductor company’s stock worth $1,397,751,000 after purchasing an additional 6,217,952 shares in the last quarter. Finally, Amundi raised its stake in shares of Marvell Technology by 113.4% in the second quarter. Amundi now owns 8,648,350 shares of the semiconductor company’s stock worth $642,140,000 after purchasing an additional 4,596,309 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Company Profile

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.