Zacks Research Downgrades Marvell Technology (NASDAQ:MRVL) to Hold

Marvell Technology (NASDAQ:MRVL) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research firms have also recently weighed in on MRVL. TD Cowen upped their price objective on shares of Marvell Technology from $90.00 to $100.00 and gave the company a “hold” rating in a research report on Wednesday, December 3rd. Wells Fargo & Company raised their price objective on Marvell Technology from $90.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 3rd. Evercore ISI upped their target price on Marvell Technology from $122.00 to $156.00 and gave the company an “outperform” rating in a research report on Wednesday, December 3rd. Melius Research raised shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $135.00 price target for the company in a research report on Monday, January 5th. Finally, JPMorgan Chase & Co. upped their price target on shares of Marvell Technology from $120.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 3rd. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.03.

Marvell Technology Price Performance

MRVL stock opened at $83.05 on Monday. The stock has a 50-day simple moving average of $87.19 and a 200-day simple moving average of $80.79. The firm has a market cap of $70.43 billion, a P/E ratio of 29.14, a price-to-earnings-growth ratio of 0.80 and a beta of 1.95. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 2.01. Marvell Technology has a 1 year low of $47.08 and a 1 year high of $127.48.

Marvell Technology (NASDAQ:MRVL) last issued its quarterly earnings data 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. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.06 billion. Marvell Technology had a net margin of 31.75% and a return on equity of 13.15%. Marvell Technology’s revenue for the quarter was up 36.8% on a year-over-year basis. During the same quarter last year, the company earned $0.43 earnings per share. Marvell Technology has set its Q4 2026 guidance at 0.740-0.840 EPS. On average, equities analysts predict that Marvell Technology will post 0.91 earnings per share for the current fiscal year.

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

Insider Activity

In related news, EVP Mark Casper sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $93.08, for a total transaction of $465,400.00. Following the completion of the transaction, the executive vice president owned 19,418 shares in the company, valued at $1,807,427.44. The trade was a 20.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Several hedge funds and other institutional investors have recently modified their holdings of MRVL. Ellsworth Advisors LLC bought a new stake in shares of Marvell Technology in the 3rd quarter worth about $5,864,000. Taylor Frigon Capital Management LLC lifted its holdings in Marvell Technology by 16.5% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 33,605 shares of the semiconductor company’s stock valued at $2,601,000 after purchasing an additional 4,748 shares during the last quarter. Waterfront Wealth Inc. boosted its position in Marvell Technology by 21.5% in the second quarter. Waterfront Wealth Inc. now owns 18,394 shares of the semiconductor company’s stock valued at $1,424,000 after buying an additional 3,258 shares in the last quarter. BOCHK Asset Management Ltd bought a new stake in Marvell Technology during the second quarter worth about $1,486,000. Finally, Westbourne Investments Inc. increased its holdings in shares of Marvell Technology by 442.4% during the second quarter. Westbourne Investments Inc. now owns 21,695 shares of the semiconductor company’s stock worth $1,679,000 after buying an additional 17,695 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

About Marvell Technology

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.