Needham & Company LLC Boosts Marvell Technology (NASDAQ:MRVL) Price Target to $120.00

Marvell Technology (NASDAQ:MRVL) had its target price upped by equities research analysts at Needham & Company LLC from $95.00 to $120.00 in a research note issued on Wednesday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 22.21% from the company’s current price.

MRVL has been the topic of several other research reports. Wells Fargo & Company upped their price objective on Marvell Technology from $90.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday. Cowen cut shares of Marvell Technology from a “buy” rating to a “hold” rating in a report on Tuesday, September 30th. Benchmark raised their price target on shares of Marvell Technology from $95.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday. Raymond James Financial started coverage on shares of Marvell Technology in a research report on Thursday, November 20th. They issued a “strong-buy” rating and a $121.00 price objective for the company. Finally, UBS Group upped their target price on shares of Marvell Technology from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, November 24th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average target price of $111.00.

Marvell Technology Stock Performance

Shares of NASDAQ:MRVL opened at $98.19 on Wednesday. The company has a market capitalization of $84.65 billion, a price-to-earnings ratio of 34.45, a PEG ratio of 1.20 and a beta of 1.93. Marvell Technology has a 12 month low of $47.08 and a 12 month high of $127.48. The firm’s 50-day moving average is $87.44 and its 200 day moving average is $76.92. The company has a current ratio of 1.88, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Tuesday, December 2nd. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.02. Marvell Technology had a return on equity of 13.31% and a net margin of 31.75%.The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the previous year, the business earned $0.43 earnings per share. The company’s revenue for the quarter was up 36.8% compared to the same quarter last year. Marvell Technology has set its Q4 2026 guidance at 0.740-0.840 EPS. Research analysts predict that Marvell Technology will post 0.91 EPS for the current year.

Marvell Technology declared that its Board of Directors has initiated a stock buyback plan on Wednesday, September 24th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 7.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Marvell Technology

In related news, COO Chris Koopmans purchased 6,800 shares of the business’s stock in a transaction dated Thursday, September 25th. The shares were acquired at an average cost of $78.03 per share, for a total transaction of $530,604.00. Following the acquisition, the chief operating officer owned 104,825 shares of the company’s stock, valued at $8,179,494.75. The trade was a 6.94% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew J. Murphy acquired 13,600 shares of the firm’s stock in a transaction that occurred on Thursday, September 25th. The shares were bought at an average price of $77.09 per share, with a total value of $1,048,424.00. Following the completion of the purchase, the chief executive officer directly owned 268,637 shares in the company, valued at $20,709,226.33. The trade was a 5.33% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 27,200 shares of company stock worth $2,109,632. 0.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Marvell Technology

Several hedge funds have recently modified their holdings of MRVL. Vanguard Group Inc. grew its position in shares of Marvell Technology by 23.5% in the 3rd 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 during the last quarter. Norges Bank purchased a new stake in Marvell Technology during the second quarter valued at approximately $716,713,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Marvell Technology by 4,758.5% in the second 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 acquiring an additional 6,891,393 shares in the last quarter. Nuveen LLC purchased a new position in Marvell Technology in the first quarter worth $399,587,000. Finally, Ameriprise Financial Inc. increased its position in shares of Marvell Technology by 59.7% during 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. 83.51% of the stock is owned by hedge funds and other institutional investors.

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.