Marvell Technology (MRVL) to Release Quarterly Earnings on Wednesday

Marvell Technology (NASDAQ:MRVL) is expected to be posting its quarterly earnings results after the market closes on Wednesday, March 5th. Analysts expect Marvell Technology to post earnings of $0.59 per share and revenue of $1.80 billion for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $91.82 on Monday. Marvell Technology has a 1 year low of $53.19 and a 1 year high of $127.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The business has a fifty day simple moving average of $111.63 and a two-hundred day simple moving average of $93.59. The company has a market capitalization of $79.45 billion, a P/E ratio of -54.01, a P/E/G ratio of 1.61 and a beta of 1.40.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is currently -14.12%.

Insider Transactions at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $735,000.00. Following the completion of the sale, the executive vice president now owns 97,244 shares of the company’s stock, valued at $11,912,390. This represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the transaction, the chief financial officer now owns 112,711 shares in the company, valued at $13,807,097.50. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Benchmark reiterated a “buy” rating and set a $135.00 target price (up previously from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. UBS Group upped their price target on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Piper Sandler reiterated an “overweight” rating and issued a $120.00 price objective (up from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. B. Riley increased their target price on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group lifted their price target on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $127.60.

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.