Marvell Technology (MRVL) to Release Quarterly Earnings on Thursday

Marvell Technology (NASDAQ:MRVLGet Rating) will be issuing its quarterly earnings data after the market closes on Thursday, December 1st. Analysts expect the company to announce earnings of $0.59 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Marvell Technology (NASDAQ:MRVLGet Rating) last announced its earnings results on Thursday, August 25th. The semiconductor company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.01. Marvell Technology had a positive return on equity of 7.94% and a negative net margin of 3.95%. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the company earned $0.21 EPS. The firm’s revenue for the quarter was up 41.0% compared to the same quarter last year. On average, analysts expect Marvell Technology to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $43.68 on Thursday. The business has a 50 day moving average price of $41.79 and a 200 day moving average price of $48.12. The company has a quick ratio of 0.93, a current ratio of 1.35 and a debt-to-equity ratio of 0.25. Marvell Technology has a twelve month low of $35.30 and a twelve month high of $93.85. The company has a market cap of $37.24 billion, a price-to-earnings ratio of -168.00, a PEG ratio of 1.90 and a beta of 1.39.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 26th. Shareholders of record on Friday, October 7th were given a $0.06 dividend. The ex-dividend date of this dividend was Thursday, October 6th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.55%. Marvell Technology’s dividend payout ratio is currently -92.31%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MRVL. The Goldman Sachs Group raised their price objective on Marvell Technology from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, August 26th. KeyCorp dropped their target price on Marvell Technology from $90.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, August 26th. Credit Suisse Group initiated coverage on Marvell Technology in a report on Tuesday, November 15th. They issued an “outperform” rating and a $56.00 target price for the company. Stifel Nicolaus dropped their target price on Marvell Technology from $78.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, September 29th. Finally, B. Riley dropped their target price on Marvell Technology from $63.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, October 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-eight have given a buy rating to the company. According to data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus price target of $77.14.

Insider Activity

In other news, EVP Mitchell Gaynor sold 5,000 shares of the firm’s stock in a transaction on Saturday, October 15th. The stock was sold at an average price of $39.61, for a total value of $198,050.00. Following the transaction, the executive vice president now directly owns 103,429 shares in the company, valued at approximately $4,096,822.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Nariman Yousefi sold 10,000 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $45.00, for a total value of $450,000.00. Following the transaction, the executive vice president now directly owns 274,144 shares in the company, valued at approximately $12,336,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mitchell Gaynor sold 5,000 shares of Marvell Technology stock in a transaction dated Saturday, October 15th. The stock was sold at an average price of $39.61, for a total value of $198,050.00. Following the transaction, the executive vice president now owns 103,429 shares in the company, valued at $4,096,822.69. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,000 shares of company stock valued at $886,800. Company insiders own 0.45% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MRVL. MetLife Investment Management LLC bought a new position in Marvell Technology during the first quarter worth about $1,210,000. Yousif Capital Management LLC lifted its holdings in shares of Marvell Technology by 6.6% in the first quarter. Yousif Capital Management LLC now owns 14,918 shares of the semiconductor company’s stock valued at $1,070,000 after purchasing an additional 925 shares in the last quarter. Raymond James Trust N.A. lifted its holdings in shares of Marvell Technology by 2.8% in the first quarter. Raymond James Trust N.A. now owns 12,780 shares of the semiconductor company’s stock valued at $917,000 after purchasing an additional 344 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Marvell Technology by 20.6% in the first quarter. Cetera Investment Advisers now owns 28,668 shares of the semiconductor company’s stock valued at $2,056,000 after purchasing an additional 4,888 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Marvell Technology by 35.5% in the first quarter. Sequoia Financial Advisors LLC now owns 5,099 shares of the semiconductor company’s stock valued at $366,000 after purchasing an additional 1,337 shares in the last quarter. 80.95% of the stock is currently owned by institutional investors.

About Marvell Technology

(Get Rating)

Marvell Technology, Inc, together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors.

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Earnings History for Marvell Technology (NASDAQ:MRVL)

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