Marvell Technology, Inc. (NASDAQ:MRVL) Receives “Moderate Buy” Consensus Rating from Analysts
Marvell Technology, Inc. (NASDAQ:MRVL – Get Free Report) has received an average rating of “Moderate Buy” from the twenty-two ratings firms covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and twenty-one have given the company a buy recommendation. The average 1-year price target among analysts who have issued a report on the stock in the last year is $85.24.
Several analysts have recently commented on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $90.00 price target (up from $80.00 previously) on shares of Marvell Technology in a research note on Friday, May 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price target on shares of Marvell Technology in a report on Friday, May 31st. Evercore ISI increased their price target on shares of Marvell Technology from $88.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Roth Mkm reaffirmed a “buy” rating and issued a $95.00 price target on shares of Marvell Technology in a research report on Friday, April 12th. Finally, Morgan Stanley increased their price target on shares of Marvell Technology from $71.00 to $77.00 and gave the stock an “equal weight” rating in a report on Friday, May 31st.
Check out our latest research report on Marvell technology
Insider Trading at Marvell Technology
In related news, insider Muhammad Raghib Hussain sold 50,000 shares of Marvell Technology stock in a transaction that occurred 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 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 & 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 dated Monday, July 8th. The shares were 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 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 stock in a transaction dated 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. In the last quarter, insiders sold 131,000 shares of the company’s stock valued at $9,357,740. 0.33% of the shares are currently owned by company insiders.
Marvell Technology Institutional Trading
Several hedge funds and other institutional investors have recently modified their holdings in MRVL. SJS Investment Consulting Inc. increased its holdings in Marvell Technology by 56.8% during the fourth 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 increased its holdings in Marvell Technology shares by 56.4% during the 1st quarter. Bruce G. Allen Investments LLC now owns 391 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 141 shares during the last quarter. Oliver Lagore Vanvalin Investment Group increased its holdings in Marvell Technology shares by 46.2% in the 4th 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 in the last quarter. Salomon & Ludwin LLC acquired a new stake in shares of Marvell Technology in the first quarter valued at around $31,000. Finally, Raleigh Capital Management Inc. increased its holdings in Marvell Technology by 532.3% during the third quarter. Raleigh Capital Management Inc. 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 shares.
Marvell Technology shares rise 2.0%
MRVL shares opened at $73.59 on Friday. Marvell Technology has a twelve-month low of $46.07 and a twelve-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 cap of $63.70 billion, a P/E ratio of -65.12, a price-to-earnings-to-growth ratio of 3.42 and a beta of 1.47. The business’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) last released its quarterly earnings results on Thursday, May 30th. The semiconductor company reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Marvell Technology had a negative net margin of 18.33% and a positive return on equity of 4.51%. Revenue for the business declined 12.2% compared to the same quarter last year. During the same quarter a year ago, the company earned $0.17 per share. On average, research analysts anticipate that Marvell Technology will post earnings of $0.75 per share for the current year.
Marvell Technology Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th will receive a $0.06 dividend. The ex-dividend date is Friday, July 12th. This represents an annualized dividend of $0.24 and a dividend yield of 0.33%. Marvell Technology’s dividend payout ratio is currently -21.24%.
Marvell Technology Company Profile
(Get the free report
Marvell Technology, Inc., together with its subsidiaries, provides data infrastructure semiconductor solutions spanning the data center core to the network edge. The company develops and scales complex System-on-a-Chip architectures integrating analog, mixed and digital signal processing capabilities.
Further Reading
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