Marvell Technology, Inc. (NASDAQ:MRVL) Given Average Rating of “Buy” by Analysts

Marvell Technology, Inc. (NASDAQ:MRVL) has been assigned a consensus rating of “Buy” from the twenty-two research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, twenty have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $91.62.

A number of equities analysts have weighed in on MRVL shares. Evercore ISI upped their price target on Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. The Goldman Sachs Group raised their price target on shares of Marvell Technology from $77.00 to $87.00 and gave the company a “buy” rating in a report on Friday, August 30th. Benchmark boosted their price objective on shares of Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 30th. KeyCorp raised their target price on Marvell Technology from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Finally, Bank of America boosted their price target on Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, August 30th.

Marvell Technology Stock Up 2.5 %

MRVL opened at $81.83 on Tuesday. The company has a market cap of $70.83 billion, a PE ratio of -72.42, a price-to-earnings-growth ratio of 3.17 and a beta of 1.45. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79. Marvell Technology has a 1 year low of $46.07 and a 1 year high of $85.76. The firm has a 50 day moving average price of $72.42 and a 200 day moving average price of $70.26.

Marvell Technology (NASDAQ:MRVL) last issued its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter last year, the firm posted $0.18 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. Sell-side analysts expect that Marvell Technology will post 0.78 earnings per share for the current year.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is -21.24%.

Insider Buying and Selling

In other news, CEO Matthew J. Murphy sold 6,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $73.29, for a total transaction of $439,740.00. Following the completion of the transaction, the chief executive officer now owns 208,915 shares in the company, valued at approximately $15,311,380.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Matthew J. Murphy sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $73.29, for a total transaction of $439,740.00. Following the completion of the transaction, the chief executive officer now directly owns 208,915 shares in the company, valued at approximately $15,311,380.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $12,075,000.00. Following the completion of the sale, the insider now owns 694,487 shares in the company, valued at approximately $55,906,203.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 255,000 shares of company stock worth $19,846,215 in the last three months. 0.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Marvell Technology

Several institutional investors have recently bought and sold shares of MRVL. American International Group Inc. increased its position in shares of Marvell Technology by 1.5% during the 4th quarter. American International Group Inc. now owns 66,986 shares of the semiconductor company’s stock valued at $4,040,000 after purchasing an additional 993 shares during the period. NBC Securities Inc. grew its holdings in Marvell Technology by 124.8% during the first quarter. NBC Securities Inc. now owns 1,938 shares of the semiconductor company’s stock worth $137,000 after acquiring an additional 1,076 shares during the period. Salem Investment Counselors Inc. raised its position in Marvell Technology by 20.4% in the first quarter. Salem Investment Counselors Inc. now owns 2,197 shares of the semiconductor company’s stock worth $156,000 after acquiring an additional 373 shares in the last quarter. Ballentine Partners LLC lifted its holdings in Marvell Technology by 13.7% in the 1st quarter. Ballentine Partners LLC now owns 5,457 shares of the semiconductor company’s stock valued at $387,000 after acquiring an additional 657 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its position in shares of Marvell Technology by 4.9% during the 1st quarter. AdvisorNet Financial Inc now owns 3,695 shares of the semiconductor company’s stock valued at $262,000 after purchasing an additional 171 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

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.