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

Marvell Technology, Inc. (NASDAQ:MRVL) has earned an average recommendation of “Moderate Buy” from the twenty-two ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and twenty-one have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $85.24.

A number of research firms have recently issued reports on MRVL. Citigroup reiterated a “buy” rating and set a $91.00 price objective on shares of Marvell Technology in a research note on Wednesday, March 27th. B. Riley boosted their price target on Marvell Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Roth Mkm reaffirmed a “buy” rating and set a $95.00 price objective on shares of Marvell Technology in a research report on Friday, April 12th. Jefferies Financial Group initiated coverage on shares of Marvell Technology in a report on Monday, May 13th. They issued a “buy” rating and a $85.00 target price for the company. Finally, Morgan Stanley lifted their price objective on shares of Marvell Technology from $71.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Friday, May 31st.

Insider Activity

In other news, insider Muhammad Raghib Hussain sold 50,000 shares of the business’s stock in a transaction dated 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 owns 838,571 shares of the company’s stock, valued at approximately $62,892,825. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Muhammad Raghib Hussain sold 50,000 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $75.00, for a total transaction of $3,750,000.00. Following the sale, the insider now directly owns 838,571 shares of the company’s stock, valued at $62,892,825. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew J. Murphy sold 30,000 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $68.82, for a total transaction of $2,064,600.00. Following the sale, the chief executive officer now owns 716,545 shares in the company, valued at approximately $49,312,626.90. The disclosure for this sale can be found here. Insiders have sold 131,000 shares of company stock valued at $9,357,740 in the last ninety days. Insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

Institutional investors have recently bought and sold shares of the business. SJS Investment Consulting Inc. raised its position in shares of Marvell Technology by 56.8% during the 4th quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 155 shares during the last quarter. Bruce G. Allen Investments LLC raised its holdings 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 during the last quarter. Oliver Lagore Vanvalin Investment Group raised its holdings in shares of Marvell Technology by 46.2% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 522 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 165 shares during the last quarter. Salomon & Ludwin LLC purchased a new position in shares of Marvell Technology in the first quarter valued at approximately $31,000. Finally, Raleigh Capital Management Inc. increased its position in shares of Marvell Technology by 532.3% during the third quarter. Raleigh Capital Management Inc. now owns 626 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 527 shares in the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Stock Up 2.0 %

Shares of NASDAQ:MRVL opened at $73.59 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.80 and a debt-to-equity ratio of 0.28. The business’s 50 day moving average is $71.58 and its 200 day moving average is $69.35. The stock has a market cap of $63.70 billion, a P/E ratio of -65.12, a price-to-earnings-growth ratio of 3.42 and a beta of 1.47. Marvell Technology has a 52-week low of $46.07 and a 52-week high of $85.76.

Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings results on Thursday, May 30th. The semiconductor company reported $0.24 EPS for the quarter, meeting the consensus estimate of $0.24. Marvell Technology had a positive return on equity of 4.51% and a negative net margin of 18.33%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the firm posted $0.17 earnings per share. The business’s revenue for the quarter was down 12.2% on a year-over-year basis. Sell-side analysts predict that Marvell Technology will post 0.75 EPS for the current year.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.33%. The ex-dividend date is Friday, July 12th. Marvell Technology’s payout ratio is -21.24%.

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.