Marvell Technology (NASDAQ:MRVL) Upgraded at Raymond James Financial

Raymond James Financial upgraded shares of Marvell Technology (NASDAQ:MRVL) to a strong-buy rating in a report released on Thursday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Bank of America restated a “neutral” rating and set a $78.00 price target (down from $90.00) on shares of Marvell Technology in a report on Friday, August 29th. Wells Fargo & Company decreased their target price on Marvell Technology from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, August 29th. Roth Capital reaffirmed a “buy” rating on shares of Marvell Technology in a research report on Wednesday, October 15th. Needham & Company LLC upped their price target on Marvell Technology from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, September 25th. Finally, Morgan Stanley lowered their price objective on shares of Marvell Technology from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Friday, August 29th. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and an average target price of $94.23.

Marvell Technology Stock Up 1.0%

Shares of Marvell Technology stock opened at $77.45 on Thursday. Marvell Technology has a 12-month low of $47.08 and a 12-month high of $127.48. 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 stock has a 50 day moving average price of $84.55 and a two-hundred day moving average price of $75.25. The stock has a market capitalization of $66.77 billion, a P/E ratio of -595.77, a PEG ratio of 1.10 and a beta of 1.95.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings data on Thursday, August 28th. The semiconductor company reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. The business had revenue of $2.01 billion during 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 for the quarter was up 57.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.30 earnings per share. Marvell Technology has set its Q3 2026 guidance at 0.690-0.790 EPS. Equities analysts expect that Marvell Technology will post 0.91 earnings per share for the current year.

Marvell Technology declared that its Board of Directors has approved a share repurchase program on Wednesday, September 24th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the semiconductor company to buy up to 7.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 30th. Stockholders of record on Friday, October 10th were issued 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 was Friday, October 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -184.62%.

Insider Buying and Selling

In related news, CFO Willem A. Meintjes purchased 3,400 shares of the stock in a transaction on Thursday, September 25th. The shares were purchased at an average cost of $78.03 per share, for a total transaction of $265,302.00. Following the completion of the transaction, the chief financial officer directly owned 132,159 shares of the company’s stock, valued at approximately $10,312,366.77. The trade was a 2.64% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew J. Murphy acquired 13,600 shares of the business’s stock in a transaction on Thursday, September 25th. The shares were bought at an average cost of $77.09 per share, with a total value of $1,048,424.00. Following the completion of the acquisition, the chief executive officer owned 268,637 shares of the company’s stock, valued at approximately $20,709,226.33. This trade represents a 5.33% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 27,200 shares of company stock valued at $2,109,632. 0.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Marvell Technology

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Marvell Technology by 23.5% during the third quarter. Vanguard Group Inc. now owns 79,610,208 shares of the semiconductor company’s stock worth $6,692,830,000 after buying an additional 15,166,976 shares in the last quarter. Norges Bank bought a new stake in Marvell Technology during the 2nd quarter worth approximately $716,713,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Marvell Technology by 4,758.5% during the 2nd 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 LLC bought a new position in Marvell Technology in the 1st quarter valued at $399,587,000. Finally, Ameriprise Financial Inc. boosted its stake in Marvell Technology by 59.7% in the third quarter. Ameriprise Financial Inc. now owns 16,624,827 shares of the semiconductor company’s stock worth $1,397,751,000 after purchasing an additional 6,217,952 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Company Profile

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.