Marvell Technology, Inc. (NASDAQ:MRVL) Receives $91.77 Average PT from Analysts

Marvell Technology, Inc. (NASDAQ:MRVL) has received an average recommendation of “Moderate Buy” from the twenty-three brokerages that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, twenty have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $91.77.

A number of analysts have weighed in on the stock. Roth Mkm reissued a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. Stifel Nicolaus reiterated a “buy” rating and set a $95.00 price objective (up from $90.00) on shares of Marvell Technology in a research report on Friday, August 30th. Loop Capital began 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. TD Cowen raised Marvell Technology to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Rosenblatt Securities upped their target price on Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 30th.

Marvell Technology Price Performance

MRVL stock opened at $89.86 on Friday. The company has a market capitalization of $79.63 billion, a P/E ratio of -80.95, a PEG ratio of 3.82 and a beta of 1.44. The company has a fifty day moving average price of $79.94 and a 200-day moving average price of $73.22. 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 52-week low of $50.35 and a 52-week high of $95.09.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 EPS. As a group, equities analysts expect that Marvell Technology will post 0.78 EPS for the current year.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.27%. Marvell Technology’s payout ratio is -21.62%.

Insider Buying and Selling

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the transaction, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at $8,823,637.88. The trade was a 5.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ford Tamer sold 92,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $74.16, for a total transaction of $6,822,720.00. Following the completion of the sale, the director now owns 351,193 shares of the company’s stock, valued at approximately $26,044,472.88. This represents a 20.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 267,000 shares of company stock worth $20,899,260. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marvell Technology

Institutional investors have recently modified their holdings of the business. Citizens Financial Group Inc. RI grew its stake in Marvell Technology by 1.5% in the 3rd 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. boosted its holdings in shares of Marvell Technology by 1.5% in the 3rd quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock worth $593,000 after buying an additional 121 shares during the last quarter. United Capital Management of KS Inc. grew its position in Marvell Technology by 0.4% during the third quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock valued at $2,470,000 after buying an additional 131 shares during the period. Tlwm increased its holdings in Marvell Technology by 1.6% during the second quarter. Tlwm now owns 8,598 shares of the semiconductor company’s stock worth $601,000 after buying an additional 136 shares during the last quarter. Finally, Integrated Wealth Concepts LLC raised its position 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 worth $716,000 after acquiring an additional 139 shares during the period. 83.51% of the stock is owned by institutional investors.

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.