Marvell Technology (MRVL)
Technology · NASDAQ · US
Fundamentals
Valuation and ratings
Marvell Technology trades at $188.30, which is 50% above the $94.32 our discounted cash flow model puts on the business. On that measure it screens as expensive, which is not the same as saying it will fall.
Our moat model scores it 86 out of 100, which is a wide moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 81.3 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About Marvell Technology
Marvell Technology, Inc., together with its subsidiaries, provides data infrastructure semiconductor solutions and spanning the data center core to network edge in the United States, Argentina, China, India, Israel, Japan, Singapore, South Korea, Taiwan, Vietnam, and internationally. The company develops and scales system-on-a-chip architectures, integrating analog, mixed-signal, and digital signal processing functionality. It offers a portfolio of ethernet solutions, including spanning controllers, network adapters, physical transceivers, and switches; single or multiple core processors; and custom application specific integrated circuits, interconnects, fibre channel adapters, and processors. The company also provides interconnect products, including pulse amplitude modulation, coherent and coherent-lite digital signal processors (DSPs), laser drivers, trans-impedance amplifiers, silicon photonics, co-packaged optics, linear pluggable optics chipsets, data center interconnect, active electrical cable DSPs and peripheral component interconnect express retimer solutions; fibre channel products comprising host bus adapters and controllers for server and storage system connectivity; storage controllers for hard disk drives and solid-state-drives; host system interfaces, including serial advanced technology attachment and serial attached SCSI, peripheral component interconnect express, compute express link switches, non-volatile memory express (NVMe), and NVMe over fabrics; and develops ultra accelerator linkTM switches and ethernet for scale-up networking switches. The company serves data centers, communications, and other markets. It offers its products through direct customers and distributors. Marvell Technology, Inc. was incorporated in 1995 and is headquartered in Wilmington, Delaware.
MRVL passes 4 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
14 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Israel Englander, MILLENNIUM MANAGEMENT LLC$605.49M · 0.3% of book
- Capital Research Global, Capital Research Global Investors$435.67M · 0.1% of book
- Marshall Wace, MARSHALL WACE, LLP$306.59M · 0.3% of book
- Impax Asset Management, Impax Asset Management Group plc$229.22M · 1.6% of book
- Bridgewater Associates, LP$193.04M · 0.9% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Marvell Technology (MRVL) undervalued?
Against our discounted cash flow estimate of $94.32, MRVL at $188.30 is 50% above fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own MRVL?
14 of the institutions we track reported a position in MRVL in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is MRVL's P/E ratio?
MRVL trades at 81.3 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
The full research page for MRVL, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.