Marvell Technology, Inc. (NASDAQ:MRVL) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) have earned an average rating of “Moderate Buy” from the thirty-one brokerages that are currently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation, twenty-four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $94.73.

A number of research analysts have recently issued reports on the stock. KeyCorp dropped their price target on shares of Marvell Technology from $115.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, May 30th. Raymond James restated an “outperform” rating and issued a $90.00 target price (down previously from $110.00) on shares of Marvell Technology in a report on Friday, May 30th. B. Riley cut their price target on shares of Marvell Technology from $135.00 to $110.00 and set a “buy” rating on the stock in a research report on Monday, May 19th. Melius lowered Marvell Technology from a “buy” rating to a “hold” rating and set a $66.00 price objective for the company. in a research report on Thursday, May 22nd. Finally, Citigroup dropped their price objective on Marvell Technology from $122.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, April 11th.

Insider Activity

In related news, COO Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $412,980.00. Following the completion of the sale, the chief operating officer now directly owns 81,931 shares of the company’s stock, valued at approximately $5,639,310.73. This trade represents a 6.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the transaction, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. The trade was a 4.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,541 shares of company stock worth $2,079,948 over the last quarter. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

Several large investors have recently added to or reduced their stakes in the company. Intrepid Financial Planning Group LLC raised its stake in shares of Marvell Technology by 0.3% during the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock valued at $2,860,000 after purchasing an additional 90 shares during the period. PDS Planning Inc grew its holdings in Marvell Technology by 3.3% during the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock valued at $319,000 after buying an additional 92 shares in the last quarter. Lodestone Wealth Management LLC increased its position in shares of Marvell Technology by 2.0% during the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock valued at $514,000 after buying an additional 93 shares during the period. Private Trust Co. NA lifted its holdings in shares of Marvell Technology by 2.7% in the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock worth $414,000 after buying an additional 97 shares in the last quarter. Finally, Tradewinds LLC. lifted its holdings in shares of Marvell Technology by 0.7% in the fourth quarter. Tradewinds LLC. now owns 14,050 shares of the semiconductor company’s stock worth $1,552,000 after buying an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Trading Up 4.9%

MRVL opened at $68.35 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology has a fifty-two week low of $47.09 and a fifty-two week high of $127.48. The company’s 50 day moving average price is $58.83 and its two-hundred day moving average price is $85.94. The firm has a market capitalization of $59.04 billion, a price-to-earnings ratio of -40.21, a PEG ratio of 1.61 and a beta of 1.76.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, May 29th. The semiconductor company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. Marvell Technology had a positive return on equity of 4.59% and a negative net margin of 27.49%. Marvell Technology’s quarterly revenue was up 63.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 earnings per share. As a group, research analysts predict that Marvell Technology will post 0.91 earnings per share for the current year.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Friday, April 11th. Marvell Technology’s dividend payout ratio is -42.11%.

Marvell Technology Company Profile

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.