Shares of Marvell Technology, Inc. (NASDAQ:MRVL – Get Rating) have been given an average rating of “Moderate Buy” by the thirty-three ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-two have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $77.14.
Several analysts have recently commented on MRVL shares. Wells Fargo & Company raised shares of Marvell Technology from an “equal weight” rating to an “overweight” rating and set a $58.00 price target on the stock in a research report on Tuesday, October 11th. Stifel Nicolaus dropped their target price on shares of Marvell Technology from $78.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, September 29th. KeyCorp dropped their target price on shares of 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 shares of Marvell Technology in a report on Tuesday, November 15th. They issued an “outperform” rating and a $56.00 target price for the company. Finally, Exane BNP Paribas initiated coverage on shares of Marvell Technology in a research note on Tuesday, September 13th. They issued an “outperform” rating for the company.
In related news, EVP Mitchell Gaynor sold 5,000 shares of the firm’s stock in a transaction on Saturday, October 15th. The shares were sold at an average price of $39.61, for a total transaction of $198,050.00. Following the completion of the sale, the executive vice president now directly owns 103,429 shares of the company’s stock, valued at approximately $4,096,822.69. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Marvell Technology news, EVP Nariman Yousefi sold 10,000 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $45.00, for a total transaction of $450,000.00. Following the completion of the transaction, the executive vice president now directly owns 274,144 shares of the company’s stock, valued at approximately $12,336,480. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $198,050.00. Following the transaction, the executive vice president now directly owns 103,429 shares of the company’s stock, valued at $4,096,822.69. The disclosure for this sale can be found here. In the last 90 days, insiders have 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
Marvell Technology Price Performance
NASDAQ:MRVL opened at $43.68 on Tuesday. Marvell Technology has a 52 week low of $35.30 and a 52 week high of $93.85. The company has a quick ratio of 0.93, a current ratio of 1.35 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $37.24 billion, a PE ratio of -168.00, a price-to-earnings-growth ratio of 1.97 and a beta of 1.39. The stock’s 50-day moving average price is $41.73 and its 200-day moving average price is $48.09.
Marvell Technology (NASDAQ:MRVL – Get Rating) last released its earnings results on Thursday, August 25th. The semiconductor company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. Marvell Technology had a negative net margin of 3.95% and a positive return on equity of 7.94%. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the company posted $0.21 EPS. The business’s revenue was up 41.0% on a year-over-year basis. As a group, equities analysts expect that Marvell Technology will post 1.6 EPS for the current fiscal year.
Marvell Technology Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 26th. Stockholders of record on Friday, October 7th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Thursday, October 6th. Marvell Technology’s dividend payout ratio is presently -92.31%.
About Marvell Technology
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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