Marvell Technology (NASDAQ:MRVL) Reaches New 52-Week High – Time to Buy?

Shares of Marvell Technology, Inc. (NASDAQ:MRVLGet Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $111.89 and last traded at $109.51, with a volume of 22590042 shares trading hands. The stock had previously closed at $107.11.

Key Marvell Technology News

Here are the key news stories impacting Marvell Technology this week:

Analysts Set New Price Targets

A number of analysts have recently issued reports on MRVL shares. Evercore restated an “outperform” rating and set a $133.00 target price on shares of Marvell Technology in a research note on Wednesday, March 4th. Wall Street Zen cut shares of Marvell Technology from a “buy” rating to a “hold” rating in a research note on Sunday, March 15th. Rosenblatt Securities raised their target price on shares of Marvell Technology from $115.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Weiss Ratings restated a “hold (c)” rating on shares of Marvell Technology in a research note on Friday, March 27th. Finally, Melius Research upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $135.00 target price for the company in a research note on Monday, January 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and an average target price of $117.24.

Check Out Our Latest Stock Analysis on Marvell Technology

Marvell Technology Trading Up 2.2%

The firm has a market capitalization of $95.76 billion, a P/E ratio of 35.56, a price-to-earnings-growth ratio of 0.97 and a beta of 1.83. The business’s 50-day moving average is $85.95 and its 200 day moving average is $86.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.58.

Marvell Technology (NASDAQ:MRVLGet Free Report) last released its quarterly earnings results on Thursday, March 5th. The semiconductor company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.21 billion. During the same period last year, the firm earned $0.60 earnings per share. Marvell Technology’s revenue for the quarter 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, analysts anticipate that Marvell Technology, Inc. will post 0.91 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

The firm 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 dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Friday, April 10th. Marvell Technology’s dividend payout ratio (DPR) is currently 7.79%.

Insider Buying and Selling

In related news, insider Sandeep Bharathi sold 44,414 shares of the firm’s stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of $99.61, for a total transaction of $4,424,078.54. Following the transaction, the insider directly owned 55,199 shares of the company’s stock, valued at approximately $5,498,372.39. This trade represents a 44.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Casper sold 10,854 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $107.01, for a total transaction of $1,161,486.54. Following the transaction, the executive vice president directly owned 4,023 shares in the company, valued at approximately $430,501.23. This represents a 72.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 92,268 shares of company stock valued at $9,282,335. 0.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On Marvell Technology

Several hedge funds have recently bought and sold shares of MRVL. Intech Investment Management LLC raised its position in shares of Marvell Technology by 3.9% in the 1st quarter. Intech Investment Management LLC now owns 28,784 shares of the semiconductor company’s stock valued at $1,772,000 after buying an additional 1,085 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Marvell Technology by 87.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,899 shares of the semiconductor company’s stock valued at $457,000 after buying an additional 2,751 shares in the last quarter. Baird Financial Group Inc. raised its position in shares of Marvell Technology by 22.7% in the 2nd quarter. Baird Financial Group Inc. now owns 17,417 shares of the semiconductor company’s stock valued at $1,348,000 after buying an additional 3,221 shares in the last quarter. SageView Advisory Group LLC acquired a new position in shares of Marvell Technology in the 2nd quarter valued at approximately $251,000. Finally, Flow Traders U.S. LLC acquired a new position in shares of Marvell Technology in the 2nd quarter valued at approximately $354,000. 83.51% of the stock is owned by institutional investors.

Marvell Technology Company Profile

(Get Free Report)

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.

Further Reading

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