JPMorgan Chase & Co. Lowers Marvell Technology (NASDAQ:MRVL) Price Target to $120.00

Marvell Technology (NASDAQ:MRVL) had its price objective decreased by investment analysts at JPMorgan Chase & Co. from $130.00 to $120.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 90.87% from the stock’s current price.

Several other brokerages also recently commented on MRVL. TD Cowen upped their target price on shares of Marvell Technology from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, May 30th. Susquehanna reduced their price target on shares of Marvell Technology from $110.00 to $90.00 and set a “positive” rating on the stock in a research report on Tuesday, May 27th. The Goldman Sachs Group initiated coverage on shares of Marvell Technology in a research report on Thursday, July 10th. They issued a “neutral” rating and a $75.00 price objective for the company. B. Riley reaffirmed a “buy” rating and set a $115.00 price objective (up previously from $110.00) on shares of Marvell Technology in a research note on Wednesday, June 18th. Finally, Benchmark reiterated a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.50.

Marvell Technology Trading Down 18.6%

NASDAQ:MRVL opened at $62.87 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. Marvell Technology has a 1-year low of $47.08 and a 1-year high of $127.48. The firm has a market capitalization of $54.31 billion, a price-to-earnings ratio of -483.62, a PEG ratio of 0.68 and a beta of 1.83. The business’s 50-day moving average price is $74.69 and its two-hundred day moving average price is $70.52.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, August 28th. The semiconductor company reported $0.67 EPS for the quarter, meeting analysts’ consensus estimates of $0.67. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Marvell Technology had a positive return on equity of 11.02% and a negative net margin of 1.43%.Marvell Technology’s revenue was up 57.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 EPS. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. On average, equities analysts expect that Marvell Technology will post 0.91 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $68.52, for a total transaction of $102,780.00. Following the completion of the transaction, the chief financial officer directly owned 121,348 shares of the company’s stock, valued at $8,314,764.96. This represents a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Panteha Dixon sold 1,283 shares of Marvell Technology stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $68.50, for a total value of $87,885.50. Following the completion of the sale, the chief accounting officer directly owned 29,572 shares in the company, valued at approximately $2,025,682. This represents a 4.16% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,783 shares of company stock worth $407,716. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Large investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Marvell Technology in the second quarter valued at approximately $716,713,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in Marvell Technology by 4,758.5% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,036,216 shares of the semiconductor company’s stock valued at $544,603,000 after purchasing an additional 6,891,393 shares in the last quarter. Nuveen Asset Management LLC increased its stake in Marvell Technology by 232.2% in the 4th quarter. Nuveen Asset Management LLC now owns 9,360,425 shares of the semiconductor company’s stock valued at $1,033,859,000 after buying an additional 6,543,132 shares during the last quarter. Nuveen LLC acquired a new stake in Marvell Technology in the 1st quarter valued at $399,587,000. Finally, Goldman Sachs Group Inc. lifted its position in Marvell Technology by 32.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,661,308 shares of the semiconductor company’s stock worth $1,272,117,000 after buying an additional 5,050,159 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

About Marvell Technology

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.