Marvell Technology (NASDAQ:MRVL) Stock Price Up 1.5% – Still a Buy?

Marvell Technology, Inc. (NASDAQ:MRVLGet Free Report) shares shot up 1.5% during trading on Wednesday . The company traded as high as $214.92 and last traded at $210.99. 16,364,543 shares traded hands during trading, a decline of 45% from the average session volume of 29,944,283 shares. The stock had previously closed at $207.96.

Key Headlines Impacting Marvell Technology

Here are the key news stories impacting Marvell Technology this week:

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Morgan Stanley raised their target price on Marvell Technology from $172.00 to $195.00 and gave the company an “equal weight” rating in a research note on Thursday, May 28th. Loop Capital upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Tuesday, June 16th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $240.00 price objective on shares of Marvell Technology in a report on Thursday, May 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $240.00 price objective on shares of Marvell Technology in a research report on Friday, June 12th. Finally, Jefferies Financial Group boosted their target price on shares of Marvell Technology from $149.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $245.45.

Get Our Latest Analysis on MRVL

Marvell Technology Price Performance

The company has a market capitalization of $183.11 billion, a price-to-earnings ratio of 71.68, a price-to-earnings-growth ratio of 1.32 and a beta of 2.20. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.28 and a quick ratio of 2.66. The business has a fifty day moving average price of $243.07 and a 200 day moving average price of $152.87.

Marvell Technology (NASDAQ:MRVLGet Free Report) last issued its quarterly earnings data on Wednesday, May 27th. The semiconductor company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Marvell Technology had a net margin of 28.99% and a return on equity of 13.83%. The company’s revenue was up 27.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.62 earnings per share. Marvell Technology has set its Q2 2027 guidance at 0.880-0.980 EPS. On average, research analysts expect that Marvell Technology, Inc. will post 3.07 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Friday, July 10th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, July 10th. Marvell Technology’s dividend payout ratio is currently 8.22%.

Insider Buying and Selling

In related news, CFO Willem A. Meintjes sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $175.24, for a total transaction of $700,960.00. Following the sale, the chief financial officer owned 226,675 shares of the company’s stock, valued at $39,722,527. The trade was a 1.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sandeep Bharathi sold 2,231 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $299.13, for a total value of $667,359.03. Following the completion of the sale, the insider owned 55,530 shares of the company’s stock, valued at $16,610,688.90. This trade represents a 3.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 45,981 shares of company stock worth $9,835,542. Company insiders own 0.12% of the company’s stock.

Institutional Trading of Marvell Technology

A number of hedge funds and other institutional investors have recently modified their holdings of MRVL. Laurel Wealth Advisors LLC acquired a new position in Marvell Technology during the fourth quarter worth about $25,000. Hilton Head Capital Partners LLC lifted its holdings in Marvell Technology by 978.3% in the 1st quarter. Hilton Head Capital Partners LLC now owns 248 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 225 shares during the last quarter. Jessup Wealth Management Inc bought a new position in shares of Marvell Technology during the 4th quarter valued at about $25,000. Cherry Tree Wealth Management LLC bought a new position in shares of Marvell Technology during the 4th quarter valued at about $26,000. Finally, MidFirst Bank acquired a new position in shares of Marvell Technology in the 4th quarter worth approximately $28,000. Institutional investors own 83.51% of the company’s stock.

About Marvell Technology

(Get Free Report)

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.

Further Reading

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