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

Marvell Technology, Inc. (NASDAQ:MRVL) has been given a consensus recommendation of “Moderate Buy” by the twenty-two analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and twenty-one have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $91.62.

Several equities analysts have recently weighed in on the company. Evercore ISI raised their target price on Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a research report on Friday. Stifel Nicolaus restated a “buy” rating and issued a $95.00 target price (up previously from $90.00) on shares of Marvell Technology in a research report on Friday. Roth Mkm reiterated a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a report on Friday. B. Riley lifted their price objective on Marvell Technology from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a report on Friday.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $73.42, for a total transaction of $367,100.00. Following the transaction, the executive vice president now owns 115,318 shares of the company’s stock, valued at approximately $8,466,647.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Chris Koopmans sold 5,000 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $73.42, for a total value of $367,100.00. Following the transaction, the executive vice president now directly owns 115,318 shares of the company’s stock, valued at approximately $8,466,647.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Muhammad Raghib Hussain sold 50,000 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $75.00, for a total value of $3,750,000.00. Following the completion of the transaction, the insider now directly owns 838,571 shares in the company, valued at $62,892,825. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,500 shares of company stock worth $4,872,620. 0.33% of the stock is owned by insiders.

Institutional Trading of Marvell Technology

Large investors have recently modified their holdings of the business. Bruce G. Allen Investments LLC grew its stake in shares of Marvell Technology by 56.4% during the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 141 shares in the last quarter. Salomon & Ludwin LLC acquired a new position in Marvell Technology in the first quarter worth about $31,000. Strategic Investment Solutions Inc. IL acquired a new position in Marvell Technology in the second quarter worth about $32,000. Quarry LP bought a new position in Marvell Technology in the second quarter worth about $32,000. Finally, Optimum Investment Advisors bought a new position in Marvell Technology in the first quarter worth about $35,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Price Performance

MRVL opened at $76.24 on Monday. The company has a current ratio of 1.80, a quick ratio of 1.24 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $65.99 billion, a price-to-earnings ratio of -67.47, a PEG ratio of 3.61 and a beta of 1.47. Marvell Technology has a 12-month low of $46.07 and a 12-month high of $85.76. The business’s fifty day simple moving average is $67.95 and its 200-day simple moving average is $69.48.

Marvell Technology (NASDAQ:MRVL) last released its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Marvell Technology had a positive return on equity of 4.26% and a negative net margin of 18.30%. The firm’s revenue was down 5.1% compared to the same quarter last year. During the same period last year, the business posted $0.18 earnings per share. On average, equities research analysts anticipate that Marvell Technology will post 0.75 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 12th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date was Friday, July 12th. Marvell Technology’s dividend payout ratio is currently -21.24%.

About Marvell Technology

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.