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

Marvell Technology, Inc. (NASDAQ:MRVL) has earned a consensus rating of “Moderate Buy” from the twenty-three brokerages that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $91.77.

Several equities research analysts recently weighed in on MRVL shares. The Goldman Sachs Group boosted their price target on shares of Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Loop Capital initiated coverage on shares of Marvell Technology in a report on Monday, November 11th. They issued a “hold” rating and a $95.00 target price on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $100.00 price target on shares of Marvell Technology in a report on Friday, August 30th. Bank of America boosted their price objective on Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 target price on shares of Marvell Technology in a research report on Friday, August 30th.

Insider Activity

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $73.87, for a total transaction of $110,805.00. Following the completion of the sale, the chief financial officer now directly owns 111,753 shares in the company, valued at approximately $8,255,194.11. The trade was a 1.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the transaction, the insider now owns 694,487 shares of the company’s stock, valued at $55,906,203.50. This represents a 17.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 259,500 shares of company stock valued at $20,230,710 over the last ninety days. 0.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI grew its holdings in Marvell Technology by 1.5% in the third quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock valued at $566,000 after purchasing an additional 116 shares during the period. Crumly & Associates Inc. grew its stake in shares of Marvell Technology by 1.5% during the 3rd quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock valued at $593,000 after buying an additional 121 shares during the period. United Capital Management of KS Inc. increased its holdings in shares of Marvell Technology by 0.4% during the 3rd quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock worth $2,470,000 after buying an additional 131 shares during the last quarter. Tlwm raised its position in shares of Marvell Technology by 1.6% in the 2nd quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock worth $601,000 after buying an additional 136 shares during the period. Finally, Integrated Wealth Concepts LLC boosted its holdings in Marvell Technology by 1.4% in the third quarter. Integrated Wealth Concepts LLC now owns 9,931 shares of the semiconductor company’s stock valued at $716,000 after acquiring an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Down 3.2 %

NASDAQ MRVL opened at $87.83 on Friday. Marvell Technology has a 52 week low of $50.35 and a 52 week high of $95.09. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $77.83 billion, a P/E ratio of -79.13, a price-to-earnings-growth ratio of 3.91 and a beta of 1.44. The stock’s 50-day moving average price is $78.89 and its 200-day moving average price is $72.69.

Marvell Technology (NASDAQ:MRVL) last posted 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 business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period last year, the firm earned $0.18 earnings per share. On average, equities research analysts predict 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 was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.27%. Marvell Technology’s payout ratio is -21.62%.

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.