Marvell Technology (NASDAQ:MRVL) Stock Jumps 1.4% – Should You Buy?

Marvell Technology, Inc. (NASDAQ:MRVL) traded up 1.4% during mid-day trading on Tuesday. The company traded as high as $243.96 and last traded at $240.42. Approximately 15,881,075 shares were traded during trading, a decline of 42% from the average session volume of 27,390,787 shares. The stock had previously closed at $237.09.

Wall Street Analyst Weigh In

A number of research analysts recently commented on MRVL shares. Needham & Company LLC increased their target price on Marvell Technology from $300.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 7th. Wolfe Research lifted their price target on Marvell Technology from $280.00 to $375.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 7th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Marvell Technology in a research note on Tuesday, October 6th. HC Wainwright reiterated a “buy” rating on shares of Marvell Technology in a report on Tuesday, August 25th. Finally, Oppenheimer reiterated an “outperform” rating and set a $425.00 price objective on shares of Marvell Technology in a research report on Wednesday, October 7th. Three investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and an average price target of $327.36.

Marvell Technology Stock Performance

The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.62 and a current ratio of 3.17. The company has a market cap of $214.63 billion, a PE ratio of 80.78, a PEG ratio of 7.17 and a beta of 2.26. The business’s 50-day moving average is $242.82 and its 200 day moving average is $219.90.

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

Marvell Technology Dividend Announcement

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

Insider Transactions at Marvell Technology

In other news, CEO Matthew Murphy sold 7,500 shares of the company’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $235.47, for a total value of $1,766,025.00. Following the sale, the chief executive officer directly owned 768,186 shares of the company’s stock, valued at $180,884,757.42. This represents a 0.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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. Also, insider Sandeep Bharathi sold 3,685 shares of Marvell Technology stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $234.97, for a total transaction of $865,864.45. Following the transaction, the insider owned 58,748 shares of the company’s stock, valued at $13,804,017.56. The trade was a 5.90% 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. Over the last ninety days, insiders have sold 57,285 shares of company stock valued at $12,837,063. Company insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in Marvell Technology by 34.1% during the 2nd quarter. BlackRock Inc. now owns 85,641,174 shares of the semiconductor company’s stock valued at $25,511,649,000 after purchasing an additional 21,798,190 shares during the last quarter. State Street Corp raised its stake in shares of Marvell Technology by 79.3% in the second quarter. State Street Corp now owns 41,834,272 shares of the semiconductor company’s stock worth $12,462,011,000 after purchasing an additional 18,495,866 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Marvell Technology in the second quarter worth $2,607,795,000. Bank of New York Mellon Corp lifted its holdings in shares of Marvell Technology by 153.3% during the second quarter. Bank of New York Mellon Corp now owns 7,957,985 shares of the semiconductor company’s stock valued at $2,370,604,000 after purchasing an additional 4,815,725 shares in the last quarter. Finally, Legal & General Group Plc bought a new position in shares of Marvell Technology during the second quarter valued at $1,742,526,000. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Company Profile

Marvell Technology, Inc (NASDAQ: MRVL) is a semiconductor company that develops infrastructure solutions for data centers, telecommunications networks, enterprise systems, automotive applications and other connected markets. Its products are designed to support the movement, processing, storage and security of data across complex computing and communications environments.

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