Marvell Technology (NASDAQ:MRVL) Shares Down 3.5% – Here’s What Happened

Marvell Technology, Inc. (NASDAQ:MRVLGet Free Report) shares were down 3.5% during mid-day trading on Wednesday . The stock traded as low as $87.17 and last traded at $87.62. Approximately 15,960,696 shares were traded during trading, a decline of 5% from the average daily volume of 16,833,055 shares. The stock had previously closed at $90.79.

Trending Headlines about Marvell Technology

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

Wall Street Analyst Weigh In

MRVL has been the topic of several research reports. Summit Insights upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, December 3rd. Roth Mkm lifted their target price on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 3rd. Bank of America raised Marvell Technology from a “neutral” rating to a “buy” rating and upped their target price for the company from $90.00 to $110.00 in a report on Friday, March 6th. Citigroup raised their price target on Marvell Technology from $113.00 to $118.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Finally, Craig Hallum boosted their price objective on Marvell Technology from $141.00 to $164.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $117.24.

Get Our Latest Stock Analysis on Marvell Technology

Marvell Technology Trading Down 3.5%

The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.58. The business has a fifty day moving average of $81.78 and a 200-day moving average of $83.02. The stock has a market capitalization of $76.62 billion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 0.83 and a beta of 1.97.

Marvell Technology (NASDAQ:MRVLGet Free Report) last issued its earnings results on Thursday, March 5th. The semiconductor company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. Marvell Technology had a return on equity of 14.22% and a net margin of 32.58%.The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the previous year, the firm posted $0.60 EPS. The company’s quarterly revenue was up 22.1% on a year-over-year basis. Marvell Technology has set its Q1 2027 guidance at 0.740-0.840 EPS. On average, equities analysts anticipate that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 5,000 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $93.08, for a total value of $465,400.00. Following the transaction, the executive vice president owned 19,418 shares in the company, valued at $1,807,427.44. The trade was a 20.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Marvell Technology

Institutional investors and hedge funds have recently made changes to their positions in the stock. Trifecta Capital Advisors LLC increased its position in Marvell Technology by 8.8% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 1,430 shares of the semiconductor company’s stock worth $120,000 after buying an additional 116 shares during the period. GAMMA Investing LLC grew its stake in shares of Marvell Technology by 1.7% in the third quarter. GAMMA Investing LLC now owns 7,306 shares of the semiconductor company’s stock worth $614,000 after acquiring an additional 122 shares during the last quarter. FSM Wealth Advisors LLC increased its position in Marvell Technology by 4.4% during the third quarter. FSM Wealth Advisors LLC now owns 2,939 shares of the semiconductor company’s stock worth $247,000 after acquiring an additional 123 shares during the period. Keel Point LLC raised its stake in Marvell Technology by 2.2% during the 4th quarter. Keel Point LLC now owns 5,649 shares of the semiconductor company’s stock valued at $480,000 after purchasing an additional 124 shares during the last quarter. Finally, Faithward Advisors LLC raised its stake in Marvell Technology by 2.1% during the 3rd quarter. Faithward Advisors LLC now owns 6,242 shares of the semiconductor company’s stock valued at $525,000 after purchasing an additional 126 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Company Profile

(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.

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