Marvell Technology (NASDAQ:MRVL) Stock Price Down 2.9% – Should You Sell?
by Michael Walen · The Markets DailyMarvell Technology, Inc. (NASDAQ:MRVL – Get Free Report)’s share price traded down 2.9% on Friday . The company traded as low as $93.40 and last traded at $94.88. 16,427,642 shares changed hands during trading, a decline of 4% from the average session volume of 17,139,637 shares. The stock had previously closed at $97.68.
Analysts Set New Price Targets
A number of research analysts recently issued reports on MRVL shares. Jefferies Financial Group lifted their target price on Marvell Technology from $80.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, December 3rd. Citigroup increased their price target on Marvell Technology from $113.00 to $118.00 and gave the company a “buy” rating in a research report on Friday, March 6th. TD Cowen lifted their price objective on Marvell Technology from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Friday, March 6th. Barclays boosted their price objective on Marvell Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 3rd. Finally, Zacks Research lowered shares of Marvell Technology from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $117.24.
Check Out Our Latest Stock Analysis on Marvell Technology
Marvell Technology Price Performance
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 company’s 50 day simple moving average is $83.07 and its 200 day simple moving average is $84.13. The company has a market capitalization of $82.97 billion, a PE ratio of 30.81, a price-to-earnings-growth ratio of 0.89 and a beta of 1.97.
Marvell Technology (NASDAQ:MRVL – Get Free Report) last issued its quarterly earnings data on Thursday, March 5th. The semiconductor company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.01. Marvell Technology had a net margin of 32.58% and a return on equity of 14.22%. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the previous year, the firm earned $0.60 EPS. The company’s revenue was up 22.1% compared to the same quarter last year. Marvell Technology has set its Q1 2027 guidance at 0.740-0.840 EPS. As a group, sell-side analysts predict that Marvell Technology, Inc. will post 0.91 earnings per share for the current year.
Marvell Technology Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Friday, April 10th will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, April 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. Marvell Technology’s payout ratio is 7.79%.
Insider Activity
In other Marvell Technology news, EVP Mark Casper sold 5,000 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $93.08, for a total transaction of $465,400.00. Following the transaction, the executive vice president owned 19,418 shares of the company’s stock, valued at approximately $1,807,427.44. This trade represents a 20.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.
Institutional Trading of Marvell Technology
Several institutional investors and hedge funds have recently made changes to their positions in the company. Jessup Wealth Management Inc purchased a new position in Marvell Technology during the 4th quarter worth approximately $25,000. Laurel Wealth Advisors LLC purchased a new stake in Marvell Technology in the fourth quarter valued at approximately $25,000. Cherry Tree Wealth Management LLC purchased a new stake in Marvell Technology in the fourth quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of Marvell Technology by 160.0% in the third quarter. Atlantic Edge Private Wealth Management LLC now owns 325 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 200 shares during the period. Finally, MidFirst Bank purchased a new position in shares of Marvell Technology during the fourth quarter worth approximately $28,000. 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.