Marvell Technology (NASDAQ:MRVL) Stock Jumps 4.5% – Here’s What Happened

Marvell Technology, Inc. (NASDAQ:MRVL)’s stock price rose 4.5% on Tuesday. The stock traded as high as $264.39 and last traded at $263.27. 16,245,848 shares were traded during trading, a decline of 42% from the average daily volume of 27,872,957 shares. The stock had previously closed at $251.90.

Analysts Set New Price Targets

Several research firms have commented on MRVL. HC Wainwright reaffirmed a “buy” rating on shares of Marvell Technology in a research note on Tuesday, August 25th. Benchmark reissued a “buy” rating on shares of Marvell Technology in a research note on Monday, August 24th. Royal Bank Of Canada restated an “outperform” rating and issued a $360.00 target price on shares of Marvell Technology in a report on Monday. UBS Group set a $275.00 price target on shares of Marvell Technology in a research note on Monday, August 24th. Finally, TD Cowen upped their price target on shares of Marvell Technology from $225.00 to $245.00 and gave the company a “hold” rating in a report on Friday, August 28th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $272.00.

Marvell Technology Stock Down 0.7%

The company has a 50-day simple moving average of $224.58 and a 200 day simple moving average of $202.33. The company has a market cap of $230.03 billion, a P/E ratio of 86.36, a P/E/G ratio of 2.54 and a beta of 2.25. The company has a current ratio of 3.17, a quick ratio of 2.62 and a debt-to-equity ratio of 0.27.

Marvell Technology (NASDAQ:MRVL) last released its earnings results on Thursday, August 27th. The semiconductor company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.01. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.72 billion. Marvell Technology had a return on equity of 13.57% and a net margin of 27.93%.The business’s revenue for the quarter was up 36.5% compared to the same quarter last year. During the same period last year, the company earned $0.67 earnings per share. Marvell Technology has set its Q3 2027 guidance at 1.050-1.150 EPS. On average, equities analysts anticipate that Marvell Technology, Inc. will post 3.05 EPS for the current year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 29th. Investors of record on Friday, October 9th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, October 9th. This represents a $0.24 dividend on an annualized basis and a yield of 0.1%. Marvell Technology’s dividend payout ratio (DPR) is presently 7.92%.

Insider Activity

In other news, CEO Matthew J. Murphy sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $223.39, for a total transaction of $1,675,425.00. Following the transaction, the chief executive officer directly owned 775,686 shares of the company’s stock, valued at approximately $173,280,495.54. This trade represents a 0.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Chris Koopmans sold 10,000 shares of Marvell Technology stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $203.27, for a total transaction of $2,032,700.00. Following the sale, the chief operating officer directly owned 217,941 shares of the company’s stock, valued at $44,300,867.07. This represents a 4.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 35,000 shares of company stock valued at $7,283,725. 0.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Marvell Technology

Institutional investors and hedge funds have recently bought and sold shares of the company. Focused Wealth Management Inc bought a new position in shares of Marvell Technology during the first quarter valued at approximately $608,000. Swedbank AB raised its stake in Marvell Technology by 2.8% in the first quarter. Swedbank AB now owns 3,189,551 shares of the semiconductor company’s stock worth $315,925,000 after buying an additional 85,816 shares in the last quarter. Merit Financial Group LLC raised its stake in Marvell Technology by 22.9% in the second quarter. Merit Financial Group LLC now owns 27,079 shares of the semiconductor company’s stock worth $8,067,000 after buying an additional 5,047 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Marvell Technology by 49.7% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 273,647 shares of the semiconductor company’s stock worth $27,105,000 after buying an additional 90,800 shares during the period. Finally, Swiss National Bank boosted its position in Marvell Technology by 5.4% during the 1st quarter. Swiss National Bank now owns 2,489,003 shares of the semiconductor company’s stock valued at $246,536,000 after acquiring an additional 126,600 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

Marvell Technology Company Profile

Marvell Technology, Inc (NASDAQ: MRVL) is a fabless semiconductor company that develops technologies for data infrastructure. Its products are used to move, process, store and secure data across cloud data centers, enterprise networks, telecommunications systems, automotive platforms and other communications applications.

The company’s portfolio includes custom application-specific integrated circuits, data processing and networking solutions, Ethernet products, storage controllers, optical and electro-optical components, and connectivity technologies.