Marvell Technology, Inc. (NASDAQ:MRVL – Get Free Report) shares dropped 4.6% during mid-day trading on Monday . The stock traded as low as $208.51 and last traded at $208.56. Approximately 19,998,920 shares were traded during trading, a decline of 32% from the average daily volume of 29,341,918 shares. The stock had previously closed at $218.72.
Analyst Ratings Changes
A number of brokerages recently commented on MRVL. Barclays raised their target price on Marvell Technology from $150.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Morgan Stanley increased their price target on shares of Marvell Technology from $172.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 28th. B. Riley Financial raised their price objective on shares of Marvell Technology from $240.00 to $345.00 and gave the company a “buy” rating in a research note on Friday, June 12th. William Blair restated an “outperform” rating on shares of Marvell Technology in a report on Thursday, May 28th. Finally, Benchmark upped their target price on shares of Marvell Technology from $130.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and a consensus target price of $245.45.
View Our Latest Analysis on Marvell Technology
Marvell Technology Trading Down 4.6%
Marvell Technology (NASDAQ:MRVL – Get Free Report) last announced its quarterly earnings data on Wednesday, May 27th. The semiconductor company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. Marvell Technology had a return on equity of 13.83% and a net margin of 28.99%.The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter last year, the business posted $0.62 EPS. The business’s quarterly revenue was up 27.6% compared to the same quarter last year. Marvell Technology has set its Q2 2027 guidance at 0.880-0.980 EPS. Analysts anticipate that Marvell Technology, Inc. will post 3.07 EPS for the current year.
Marvell Technology Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Friday, July 10th were paid a $0.06 dividend. The ex-dividend date was Friday, July 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.1%. Marvell Technology’s payout ratio is currently 8.22%.
Insider Buying and Selling at Marvell Technology
In related news, CEO Matthew J. Murphy sold 7,500 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $177.26, for a total transaction of $1,329,450.00. Following the completion of the transaction, the chief executive officer owned 739,397 shares in the company, valued at approximately $131,065,512.22. The trade was a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sandeep Bharathi sold 2,231 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $299.13, for a total value of $667,359.03. Following the transaction, the insider directly owned 55,530 shares of the company’s stock, valued at approximately $16,610,688.90. This represents a 3.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 45,981 shares of company stock worth $10,012,942. 0.12% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in shares of Marvell Technology by 34.1% during the second quarter. BlackRock Inc. now owns 85,641,174 shares of the semiconductor company’s stock worth $25,511,649,000 after purchasing an additional 21,798,190 shares during the period. State Street Corp raised its position in Marvell Technology by 7.9% during the 4th quarter. State Street Corp now owns 22,834,816 shares of the semiconductor company’s stock worth $1,940,503,000 after buying an additional 1,677,724 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Marvell Technology by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 12,108,452 shares of the semiconductor company’s stock worth $1,025,185,000 after acquiring an additional 97,624 shares during the period. Norges Bank acquired a new stake in shares of Marvell Technology in the 4th quarter worth $895,455,000. Finally, Van ECK Associates Corp boosted its holdings in shares of Marvell Technology by 11.4% in the fourth quarter. Van ECK Associates Corp now owns 9,864,514 shares of the semiconductor company’s stock valued at $838,286,000 after acquiring an additional 1,007,315 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.
Marvell Technology Company Profile
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.
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