Shares of Marvell Technology, Inc. (NASDAQ:MRVL – Get Rating) have received a consensus rating of “Buy” from the thirty-one rating agencies that currently cover the company, Marketbeat Ratings reports. One research analyst rated the stock with a sell recommendation, four gave the company a hold recommendation and twenty-two gave the company a buy recommendation. The 12-month average price target among brokers who have reported on the stock over the past year is $97.31.
A number of stock analysts have released reports on the stock. B. Riley cut his price target on Marvell Technology shares from $115.00 to $95.00 and set a “buy” rating on the stock in a Friday, March 4 report. Rosenblatt Securities raised its price target on Marvell Technology shares from $120.00 to $125.00 and gave the stock a “buy” rating in a Friday, March 4 research report. StockNews.com began covering Marvell Technology shares in a research report on Thursday, March 31. They put a “sell” mark on the stock. TheStreet downgraded Marvell Technology from a “b-” rating to a “c” rating in a Friday, March 4 research report. Finally, Summit Insights upgraded Marvell Technology from a “buy” rating to a “hold” rating in a Friday, March 4 research report.
The NASDAQ MRVL fell $2.33 during Monday trading hours, hitting $60.97. The company’s shares had a trading volume of 7,539,039 shares, compared to its average volume of 9,517,323. The company has a market capitalization of $51.69 billion, a PE ratio of -112.91, a growth price/earnings ratio of 2.10 and a beta of 1.20. The company has a current ratio of 1.80, a quick ratio of 1.28 and a debt ratio of 0.29. Marvell Technology has a 52-week low of $40.79 and a 52-week high of $93.85. The company’s 50-day simple moving average is $68.11 and its two-hundred-day simple moving average is $72.67.
Marvell Technology (NASDAQ:MRVL – Get Rating) last released quarterly earnings data on Thursday, March 3. The semiconductor company reported EPS of $0.50 for the quarter, beating the consensus estimate of $0.48 by $0.02. The company posted revenue of $1.34 billion in the quarter, versus a consensus estimate of $1.32 billion. Marvell Technology posted a positive return on equity of 5.60% and a negative net margin of 9.44%. The company’s quarterly revenue increased by 68.3% compared to the same quarter last year. In the same period a year earlier, the company posted earnings per share of $0.21. Research analysts expect Marvell Technology to post EPS of 1.66 for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 27. Shareholders of record on Friday, April 8 will receive a dividend of $0.06 per share. This represents an annualized dividend of $0.24 and a dividend yield of 0.39%. The ex-date of this dividend is Thursday, April 7. Marvell Technology’s dividend payout ratio is currently -44.44%.
In other news, Executive Vice President Mitchell Gaynor sold 5,000 shares of Marvell Technology in a trade dated Tuesday, February 15. The stock was sold at an average price of $70.54, for a total transaction of $352,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, Ford director Tamer sold 48,051 shares of the company in a trade that took place on Tuesday, April 5. The shares were sold at an average price of $71.61, for a total transaction of $3,440,932.11. The disclosure of this sale can be found here. Insiders sold 195,106 shares of the company valued at $14,143,738 in the past 90 days. 0.29% of the shares are held by insiders of the company.
Several institutional investors have recently changed their positions in MRVL. SkyView Investment Advisors LLC acquired a new stake in Marvell Technology in the fourth quarter worth approximately $26,000. Pittenger & Anderson Inc. acquired a new position in Marvell Technology in Q4 worth $27,000. Covestor Ltd bought a new stake in Marvell Technology in the fourth quarter worth $28,000. Blue Bell Private Wealth Management LLC acquired a new stake in Marvell Technology during the fourth quarter worth approximately $32,000. Finally, SOA Wealth Advisors LLC. bought a new position in Marvell Technology stock during the first quarter worth about $32,000. Hedge funds and other institutional investors hold 82.49% of the company’s shares.
Marvell Technology Company Profile (Get a rating)
Marvell Technology, Inc., together with its subsidiaries, designs, develops and sells analog, mixed-signal, digital signal processing circuits, as well as embedded and stand-alone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers and switches; single or multi-core processors; ASICs; and System-on-a-Chip printing products and application processors.
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