Needham & Company LLC Issues Positive Forecast for Marvell Technology (NASDAQ:MRVL) Stock Price

Marvell Technology (NASDAQ:MRVL) had its price objective increased by Needham & Company LLC from $80.00 to $95.00 in a research report released on Thursday,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Other equities analysts have also issued reports about the company. B. Riley reaffirmed a “buy” rating and issued a $115.00 price target (up from $110.00) on shares of Marvell Technology in a report on Wednesday, June 18th. Wells Fargo & Company dropped their price objective on Marvell Technology from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, August 29th. China Renaissance began coverage on Marvell Technology in a report on Thursday, June 5th. They set a “buy” rating and a $110.00 target price for the company. Barclays reiterated an “overweight” rating and set a $80.00 price target on shares of Marvell Technology in a research report on Friday, August 29th. Finally, Piper Sandler restated an “overweight” rating and issued a $85.00 price objective (down from $95.00) on shares of Marvell Technology in a research report on Friday, May 30th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $91.17.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $83.81 on Thursday. The firm has a market capitalization of $72.25 billion, a PE ratio of -644.69, a P/E/G ratio of 0.97 and a beta of 1.85. The company has a quick ratio of 1.44, a current ratio of 1.88 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $72.97 and a two-hundred day moving average price of $67.52. Marvell Technology has a twelve month low of $47.08 and a twelve month high of $127.48.

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 for the quarter, compared to analysts’ expectations of $2.01 billion. Marvell Technology had a negative net margin of 1.43% and a positive return on equity of 11.01%. Marvell Technology’s revenue was up 57.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.30 EPS. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. Equities analysts forecast that Marvell Technology will post 0.91 EPS for the current year.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 30th. Stockholders of record on Friday, October 10th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, October 10th. Marvell Technology’s dividend payout ratio is -184.62%.

Marvell Technology announced that its Board of Directors has initiated a share repurchase program on Wednesday, September 24th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 7.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Marvell Technology

In other Marvell Technology news, CEO Matthew J. Murphy bought 13,600 shares of Marvell Technology stock in a transaction dated Thursday, September 25th. The shares were purchased at an average cost of $77.09 per share, with a total value of $1,048,424.00. Following the completion of the purchase, the chief executive officer owned 268,637 shares of the company’s stock, valued at approximately $20,709,226.33. This represents a 5.33% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Chris Koopmans purchased 6,800 shares of the company’s stock in a transaction that occurred on Thursday, September 25th. The stock was acquired at an average cost of $78.03 per share, with a total value of $530,604.00. Following the purchase, the chief operating officer directly owned 104,825 shares of the company’s stock, valued at $8,179,494.75. This trade represents a 6.94% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 27,200 shares of company stock worth $2,109,632 over the last 90 days. 0.19% of the stock is owned by insiders.

Hedge Funds Weigh In On Marvell Technology

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Game Plan Financial Advisors LLC bought a new stake in Marvell Technology in the second quarter worth $27,000. Kiker Wealth Management LLC increased its holdings in shares of Marvell Technology by 374.7% during the second quarter. Kiker Wealth Management LLC now owns 356 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 281 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of Marvell Technology in the 2nd quarter worth about $32,000. Hughes Financial Services LLC bought a new position in Marvell Technology in the 1st quarter worth about $26,000. Finally, Westside Investment Management Inc. grew its position in Marvell Technology by 62.5% during the 2nd quarter. Westside Investment Management Inc. now owns 416 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 160 shares during the last quarter. Institutional investors 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.