Marvell Technology, Inc. (NASDAQ:MRVL) Receives Average Recommendation of “Buy” from Analysts

Marvell Technology, Inc. (NASDAQ:MRVL) has been given an average rating of “Buy” by the twenty-two ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, twenty have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $91.62.

MRVL has been the subject of several research analyst reports. Morgan Stanley increased their price objective on Marvell Technology from $77.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, August 30th. KeyCorp raised their price target on shares of Marvell Technology from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Piper Sandler reiterated an “overweight” rating and issued a $100.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. Roth Mkm reissued a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research note on Friday, August 30th. Finally, StockNews.com downgraded shares of Marvell Technology from a “hold” rating to a “sell” rating in a research note on Friday.

Marvell Technology Trading Up 2.5 %

Shares of MRVL opened at $81.83 on Tuesday. Marvell Technology has a 1-year low of $46.07 and a 1-year high of $85.76. The business’s 50-day moving average price is $72.42 and its 200 day moving average price is $70.26. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $70.83 billion, a P/E ratio of -72.42, a P/E/G ratio of 3.17 and a beta of 1.45.

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

Marvell Technology Dividend Announcement

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

Insiders Place Their Bets

In other news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $66.75, for a total transaction of $100,125.00. Following the completion of the transaction, the chief financial officer now directly owns 113,253 shares in the company, valued at $7,559,637.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Mark Casper sold 2,500 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $70.83, for a total value of $177,075.00. Following the completion of the sale, the executive vice president now owns 22,494 shares in the company, valued at approximately $1,593,250.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $66.75, for a total value of $100,125.00. Following the transaction, the chief financial officer now owns 113,253 shares in the company, valued at $7,559,637.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 255,000 shares of company stock valued at $19,846,215 in the last three months. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Marvell Technology

Several institutional investors have recently modified their holdings of MRVL. Davidson Kempner Capital Management LP lifted its position in Marvell Technology by 26.5% in the second quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock worth $17,482,000 after purchasing an additional 52,365 shares during the period. Diversified Trust Co acquired a new position in shares of Marvell Technology in the 2nd quarter valued at $932,000. Orion Portfolio Solutions LLC lifted its holdings in shares of Marvell Technology by 47.1% during the 1st quarter. Orion Portfolio Solutions LLC now owns 32,191 shares of the semiconductor company’s stock worth $2,282,000 after acquiring an additional 10,306 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Marvell Technology by 24.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after acquiring an additional 2,254,610 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Marvell Technology by 20.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 529,127 shares of the semiconductor company’s stock valued at $37,505,000 after acquiring an additional 88,918 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.