Needham & Company LLC Lowers Marvell Technology (NASDAQ:MRVL) Price Target to $118.00

Marvell Technology (NASDAQ:MRVL) had its price target cut by analysts at Needham & Company LLC from $120.00 to $118.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective points to a potential upside of 50.19% from the company’s previous close.

Several other research firms have also issued reports on MRVL. Weiss Ratings restated a “hold (c)” rating on shares of Marvell Technology in a research report on Monday, December 29th. The Goldman Sachs Group increased their target price on Marvell Technology from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, December 3rd. Susquehanna set a $120.00 price target on Marvell Technology and gave the stock a “positive” rating in a research report on Wednesday, December 3rd. Evercore ISI lifted their price target on Marvell Technology from $122.00 to $156.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 3rd. Finally, Citigroup reissued a “buy” rating on shares of Marvell Technology in a research note on Monday, December 22nd. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $114.88.

Marvell Technology Stock Down 0.4%

Shares of NASDAQ MRVL opened at $78.57 on Tuesday. The stock has a market capitalization of $66.63 billion, a P/E ratio of 27.57, a PEG ratio of 0.76 and a beta of 1.97. Marvell Technology has a one year low of $47.08 and a one year high of $121.81. The firm’s 50 day simple moving average is $85.80 and its two-hundred day simple moving average is $81.55. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.64.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings data on Tuesday, December 2nd. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. Marvell Technology had a net margin of 31.75% and a return on equity of 13.15%. 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 company earned $0.43 EPS. The firm’s 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. As a group, analysts expect that Marvell Technology will post 0.91 EPS for the current fiscal year.

Insider Activity at Marvell Technology

In related news, EVP Mark Casper sold 5,000 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $93.08, for a total value of $465,400.00. Following the completion of the sale, the executive vice president owned 19,418 shares of the company’s stock, valued at $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 available through this link. 0.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MRVL. Intech Investment Management LLC raised its stake in Marvell Technology by 3.9% in the first quarter. Intech Investment Management LLC now owns 28,784 shares of the semiconductor company’s stock worth $1,772,000 after buying an additional 1,085 shares in the last quarter. Hilltop National Bank purchased a new position in shares of Marvell Technology during the 2nd quarter worth approximately $48,000. Wealthcare Advisory Partners LLC grew its holdings in shares of Marvell Technology by 95.0% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 10,368 shares of the semiconductor company’s stock worth $802,000 after acquiring an additional 5,051 shares during the period. Simplicity Wealth LLC bought a new position in shares of Marvell Technology in the 2nd quarter worth approximately $425,000. Finally, Marks Group Wealth Management Inc purchased a new position in shares of Marvell Technology in the 2nd quarter valued at approximately $201,000. 83.51% of the stock is currently owned by 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.