Marvell Technology (NASDAQ:MRVL) Stock Price Down 2.1% – Should You Sell?

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) dropped 2.1% on Wednesday . The stock traded as low as $84.94 and last traded at $84.98. Approximately 7,093,129 shares were traded during trading, a decline of 63% from the average daily volume of 19,084,160 shares. The stock had previously closed at $86.76.

Analysts Set New Price Targets

Several research analysts have commented on MRVL shares. Needham & Company LLC boosted their target price on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, December 3rd. Raymond James Financial assumed coverage on shares of Marvell Technology in a research report on Thursday, November 20th. They set a “strong-buy” rating and a $121.00 price objective for the company. HSBC assumed coverage on shares of Marvell Technology in a research report on Monday, November 24th. They issued a “hold” rating and a $85.00 target price on the stock. Summit Redstone set a $105.00 price target on shares of Marvell Technology in a report on Wednesday, October 15th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a research note on Monday, December 1st. Four investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.25.

Marvell Technology Trading Down 2.1%

The firm has a 50-day moving average of $87.72 and a 200 day moving average of $80.07. The company has a market cap of $72.07 billion, a P/E ratio of 29.82, a price-to-earnings-growth ratio of 0.82 and a beta of 1.95. The company has a current ratio of 2.01, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28.

Marvell Technology (NASDAQ:MRVL) last issued its earnings results on Tuesday, December 2nd. The semiconductor company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.06 billion. Marvell Technology had a return on equity of 13.15% and a net margin of 31.75%.The firm’s revenue for the quarter was up 36.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.43 earnings per share. Marvell Technology has set its Q4 2026 guidance at 0.740-0.840 EPS. On average, analysts predict that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 29th. Stockholders of record on Friday, January 9th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, January 9th. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. Marvell Technology’s payout ratio is currently 8.42%.

Marvell Technology announced that its board has initiated a stock repurchase plan on Wednesday, September 24th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 7.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Marvell Technology news, EVP Mark Casper sold 1,253 shares of the firm’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $101.00, for a total value of $126,553.00. Following the transaction, the executive vice president directly owned 9,023 shares of the company’s stock, valued at approximately $911,323. This trade represents a 12.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

Several hedge funds and other institutional investors have recently made changes to their positions in MRVL. Atlantic Edge Private Wealth Management LLC raised its stake in shares of Marvell Technology by 160.0% in the third quarter. Atlantic Edge Private Wealth Management LLC now owns 325 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 200 shares during the last quarter. Game Plan Financial Advisors LLC bought a new stake in Marvell Technology during the second quarter worth $27,000. Kiker Wealth Management LLC raised its position in Marvell Technology by 374.7% in the 2nd quarter. Kiker Wealth Management LLC now owns 356 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 281 shares during the last quarter. Nova Wealth Management Inc. lifted its stake in Marvell Technology by 3,922.2% during the 3rd quarter. Nova Wealth Management Inc. now owns 362 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 353 shares in the last quarter. Finally, N.E.W. Advisory Services LLC bought a new position in Marvell Technology during the 2nd quarter valued at $32,000. 83.51% of the stock is owned by 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.