Marvell Technology (NASDAQ:MRVL) Shares Down 4.6% – Here’s What Happened

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) dropped 4.6% during trading on Monday . The company traded as low as $208.51 and last traded at $208.56. Approximately 19,998,920 shares traded hands during trading, a decline of 32% from the average daily volume of 29,341,918 shares. The stock had previously closed at $218.72.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MRVL. TD Cowen upped their price target on shares of Marvell Technology from $180.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, May 28th. Barclays lifted their price objective on Marvell Technology from $150.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Compass Point set a $190.00 target price on Marvell Technology in a report on Tuesday, May 26th. The Goldman Sachs Group set a $180.00 target price on Marvell Technology in a research report on Thursday, May 28th. Finally, Erste Group Bank lowered Marvell Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $245.45.

Marvell Technology Stock Performance

The firm’s 50-day moving average price is $243.79 and its two-hundred day moving average price is $161.51. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.66 and a current ratio of 3.28. The stock has a market cap of $182.45 billion, a price-to-earnings ratio of 71.42, a PEG ratio of 1.37 and a beta of 2.24.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings results on Wednesday, May 27th. The semiconductor company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. Marvell Technology had a net margin of 28.99% and a return on equity of 13.83%. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter last year, the firm earned $0.62 EPS. The business’s revenue was up 27.6% compared to the same quarter last year. Marvell Technology has set its Q2 2027 guidance at 0.880-0.980 EPS. On average, analysts expect that Marvell Technology, Inc. will post 3.07 EPS for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 30th. Shareholders of record on Friday, July 10th were given a $0.06 dividend. The ex-dividend date was Friday, July 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.1%. Marvell Technology’s payout ratio is currently 8.22%.

Insiders Place Their Bets

In other news, CFO Daniel Durn sold 2,250 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $281.01, for a total transaction of $632,272.50. Following the completion of the transaction, the chief financial officer directly owned 6,902 shares in the company, valued at approximately $1,939,531.02. This represents a 24.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Chris Koopmans sold 10,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $180.50, for a total transaction of $1,805,000.00. Following the completion of the sale, the chief operating officer owned 227,941 shares in the company, valued at approximately $41,143,350.50. This trade represents a 4.20% 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. Over the last quarter, insiders have sold 45,981 shares of company stock worth $10,012,942. Corporate insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

A number of institutional investors and hedge funds have recently made changes to their positions in MRVL. Monetta Financial Services Inc. acquired a new position in shares of Marvell Technology in the 2nd quarter worth approximately $1,013,000. Empirical Asset Management LLC purchased a new position in shares of Marvell Technology during the 2nd quarter worth approximately $638,000. Great Lakes Advisors LLC purchased a new stake in Marvell Technology in the second quarter valued at approximately $9,420,000. Avaii Wealth Management LLC acquired a new position in Marvell Technology during the second quarter worth $1,911,000. Finally, Stevens Capital Partners acquired a new position in Marvell Technology during the second quarter worth $211,000. 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.