Marvell Technology, Inc. (NASDAQ:MRVL) Receives $77.14 Consensus PT from Analysts

Shares of Marvell Technology, Inc. (NASDAQ:MRVLGet 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.

Insider Activity

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

Several hedge funds and other institutional investors have recently modified their holdings of MRVL. MUFG Americas Holdings Corp lifted its position in Marvell Technology by 90.2% in the 1st quarter. MUFG Americas Holdings Corp now owns 369 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 175 shares during the last quarter. Guardian Wealth Advisors LLC bought a new stake in Marvell Technology in the 3rd quarter valued at about $26,000. Canton Hathaway LLC bought a new stake in shares of Marvell Technology during the 2nd quarter worth about $28,000. Arlington Partners LLC bought a new stake in shares of Marvell Technology during the 2nd quarter worth about $29,000. Finally, Deseret Mutual Benefit Administrators raised its position in shares of Marvell Technology by 140.3% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 668 shares of the semiconductor company’s stock worth $29,000 after buying an additional 390 shares in the last quarter. 80.95% of the stock is owned by institutional investors and hedge funds.

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:MRVLGet 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

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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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Analyst Recommendations for Marvell Technology (NASDAQ:MRVL)

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