Marvell Technology Inc. (NASDAQ:MRVL – Get Free Report ) has an average rating of Moderate Buy from the 22 rating firms covering the stock, reports MarketBeat Ratings. One equity research analyst has rated the stock with a Hold recommendation, while 21 have given the company a Buy recommendation. The average one-year target price among analysts that have issued reports on this stock in the past year is $85.24.
Several analysts have commented on the company recently. Oppenheimer reaffirmed an “outperform” rating on shares of Marvel Technology and issued a $90.00 price target (up from the previous $80.00) in a research report on Friday, May 31st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Marvel Technology and issued a $85.00 price target in a report on Friday, May 31st. Evercore ISI raised their price target on shares of Marvel Technology from $88.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Ross Mkm reaffirmed a “buy” rating on shares of Marvel Technology and issued a $95.00 price target in a research report on Friday, April 12th. Finally, Morgan Stanley increased their price objective on Marvell Technology from $71.00 to $77.00 and gave the stock an “equal weight” rating in a report on Friday, May 31st.
Read the latest research report on Marvell technology
Insider Trading at Marvel Technology
In related news, insider Muhammad Raghib Hussain sold 50,000 shares of Marvell Technology stock in a transaction on Monday, July 8th. The shares were sold at an average price of $75.00, for a total transaction value of $3,750,000.00. With this transaction, the insider now owns 838,571 shares of the company’s stock, valued at approximately $62,892,825. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which can be accessed through this hyperlink. In other Marvell Technology news, insider Muhammad Raghib Hussain sold 50,000 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $75.00, for a total transaction value of $3,750,000.00.Following the completion of the transaction, the insider now directly owns 838,571 shares of the company’s stock, valued at $62,892,825. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Additionally, CEO, Matthew J. Murphy sold 30,000 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $68.82, for a total value of $2,064,600.00. Following the completion of the sale, the CEO now owns 716,545 shares of the company’s stock, valued at $49,312,626.90. The disclosure for this sale can be found here. During the past quarter, insiders sold 131,000 shares of the company’s stock, valued at $9,357,740. 0.33% of the stock is currently owned by company insiders.
Marvel Technology Institutional Transaction
Several hedge funds and other institutional investors recently modified their holdings in MRVL. SJS Investment Consulting Inc. increased its holdings in Marvell Technology by 56.8% in the fourth quarter. SJS Investment Consulting Inc. now owns 428 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 155 shares in the last quarter. Bruce G. Allen Investments LLC increased its holdings in Marvell Technology shares by 56.4% in the first quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 141 shares in the last quarter. Oliver Lagore Vanvalin Investment Group increased its holdings in Marvell Technology shares by 46.2% in the fourth quarter. Oliver Lagoa VanValin Investment Group now owns 522 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 165 shares in the last quarter. Salomon & Radwin LLC acquired a new stake in Marvel Technology in the first quarter valued at approximately $31,000. Finally, Lowry Capital Management increased its holdings in Marvel Technology by 532.3% in the third quarter. Lowry Capital Management now owns 626 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 527 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.
Marvel Technology shares rose 2.0%
MRVL shares opened trading at $73.59 on Friday. Marvel Technology has a 12-month low of $46.07 and a 12-month high of $85.76. 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 company has a market capitalization of $63.7 billion, a PE ratio of -65.12, a price-to-earnings growth ratio of 3.42 and a beta of 1.47. The company’s 50-day simple moving average is $71.58 and its 200-day simple moving average is $69.35.
Marvell Technology (NASDAQ:MRVL – Get Free Report ) announced its quarterly earnings on Thursday, May 30th. The semiconductor company reported quarterly earnings of $0.24, hitting analysts’ consensus estimates of $0.24. The company’s revenue for the quarter was $1.16 billion, beating the consensus estimate of $1.15 billion. Marvell Technology had a net margin of -18.33% and a return on equity of +4.51%. The company’s revenue was down 12.2% year-over-year. During the same period last year, the company’s earnings per share were $0.17. On average, research analysts expect Marvell Technology to make $0.75 earnings per share this year.
Marvel Technology Dividend Announcement
The company also recently declared a quarterly dividend, which is scheduled to be paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th will be paid a dividend of $0.06. The ex-dividend date is Friday, July 12th. This represents an annualized dividend of $0.24, or a dividend yield of 0.33%. Marvell Technology’s dividend payout ratio is currently -21.24%.
Marvel Technology Company Profile
(Get your free report
Marvell Technology, Inc., together with its subsidiaries, provides data infrastructure semiconductor solutions ranging from the data center core to the network edge. The company develops and scales complex system-on-chip architectures that integrate analog, mixed-signal, and digital signal processing capabilities.
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