Marvell Technology, Inc. (NASDAQ:MRVL) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) have earned a consensus rating of “Moderate Buy” from the twenty-three analysts that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $91.77.

MRVL has been the subject of a number of research analyst reports. Bank of America lifted their price target on shares of Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. StockNews.com cut Marvell Technology from a “hold” rating to a “sell” rating in a research note on Friday, October 18th. Benchmark lifted their target price on Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. The Goldman Sachs Group lifted their price objective on shares of Marvell Technology from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $95.00 target price (up from $90.00) on shares of Marvell Technology in a report on Friday, August 30th.

Marvell Technology Trading Down 3.2 %

NASDAQ MRVL opened at $87.83 on Friday. The stock has a market cap of $77.83 billion, a P/E ratio of -79.13, a PEG ratio of 3.91 and a beta of 1.44. The company’s fifty day simple moving average is $78.89 and its 200-day simple moving average is $72.69. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28. 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 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.30. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. Marvell Technology had a positive return on equity of 4.31% and a negative net margin of 18.30%. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 earnings per share. Equities research analysts predict that Marvell Technology will post 0.78 EPS for the current fiscal year.

Marvell Technology Dividend Announcement

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

Insiders Place Their Bets

In related news, insider Muhammad Raghib Hussain sold 150,000 shares of Marvell Technology stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $12,075,000.00. Following the transaction, the insider now directly owns 694,487 shares in the company, valued at $55,906,203.50. The trade was a 17.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $80.77, for a total value of $484,620.00. Following the sale, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at approximately $8,823,637.88. This represents a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 259,500 shares of company stock worth $20,230,710 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MRVL. Lazard Asset Management LLC increased its stake in shares of Marvell Technology by 47,934.4% in the first quarter. Lazard Asset Management LLC now owns 4,001,745 shares of the semiconductor company’s stock worth $283,643,000 after acquiring an additional 3,993,414 shares during the last quarter. Whale Rock Capital Management LLC purchased a new stake in shares of Marvell Technology during the 1st quarter worth about $181,559,000. Ameriprise Financial Inc. lifted its holdings 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 buying an additional 2,254,610 shares during the last quarter. Swedbank AB grew its stake in shares of Marvell Technology by 653.5% in the 2nd quarter. Swedbank AB now owns 2,334,015 shares of the semiconductor company’s stock valued at $163,148,000 after buying an additional 2,024,269 shares in the last quarter. Finally, Temasek Holdings Private Ltd increased its holdings in Marvell Technology by 581.8% in the third quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock worth $161,555,000 after buying an additional 1,911,532 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

About Marvell Technology

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.