Marvell Technology, Inc. (NASDAQ:MRVL) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Marvell Technology, Inc. (NASDAQ:MRVL) has been assigned an average rating of “Moderate Buy” from the thirty brokerages that are covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $94.21.

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a research report on Friday, May 30th. B. Riley decreased their price objective on shares of Marvell Technology from $135.00 to $110.00 and set a “buy” rating for the company in a research report on Monday, May 19th. Susquehanna cut their target price on shares of Marvell Technology from $110.00 to $90.00 and set a “positive” rating on the stock in a research note on Tuesday, May 27th. Stifel Nicolaus cut their target price on shares of Marvell Technology from $115.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Finally, William Blair raised shares of Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th.

Insider Buying and Selling at Marvell Technology

In related news, COO Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $412,980.00. Following the transaction, the chief operating officer now directly owns 81,931 shares of the company’s stock, valued at $5,639,310.73. This trade represents a 6.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Casper sold 12,460 shares of the firm’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $685,300.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,541 shares of company stock valued at $2,079,948. Corporate insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MRVL. Centricity Wealth Management LLC bought a new position in shares of Marvell Technology during the fourth quarter valued at about $26,000. Hughes Financial Services LLC bought a new position in shares of Marvell Technology during the first quarter valued at about $26,000. Rialto Wealth Management LLC bought a new position in shares of Marvell Technology during the fourth quarter valued at about $27,000. Rossby Financial LCC bought a new position in shares of Marvell Technology during the first quarter valued at about $27,000. Finally, Financial Connections Group Inc. increased its holdings in Marvell Technology by 776.0% during the first quarter. Financial Connections Group Inc. now owns 438 shares of the semiconductor company’s stock worth $27,000 after buying an additional 388 shares during the last quarter. 83.51% of the stock is owned by institutional investors.

Marvell Technology Trading Up 1.4%

MRVL opened at $62.36 on Wednesday. Marvell Technology has a twelve month low of $47.09 and a twelve month high of $127.48. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The company has a fifty day moving average of $58.56 and a 200-day moving average of $86.46. The stock has a market cap of $53.87 billion, a PE ratio of -36.68, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83.

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, topping the consensus estimate of $0.61 by $0.01. Marvell Technology had a negative net margin of 27.49% and a positive return on equity of 4.59%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the company posted $0.24 earnings per share. Marvell Technology’s revenue for the quarter was up 63.3% compared to the same quarter last year. On average, sell-side analysts predict that Marvell Technology will post 0.91 EPS for the current year.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date was Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) 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.