Marvell Technology, Inc. (NASDAQ:MRVL) – Analysts at Piper Sandler raised their Q2 2022 earnings estimates for Marvell Technology in a note issued to investors on Monday, June 7th. Piper Sandler analyst H. Kumar now forecasts that the semiconductor company will earn $0.22 per share for the quarter, up from their prior forecast of $0.21. Piper Sandler has a “Overweight” rating and a $60.00 price target on the stock. Piper Sandler also issued estimates for Marvell Technology’s Q4 2022 earnings at $0.31 EPS, FY2022 earnings at $1.02 EPS, Q2 2023 earnings at $0.35 EPS, Q3 2023 earnings at $0.40 EPS, Q4 2023 earnings at $0.42 EPS and FY2023 earnings at $1.46 EPS.
Marvell Technology (NASDAQ:MRVL) last announced its quarterly earnings results on Sunday, June 6th. The semiconductor company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. Marvell Technology had a positive return on equity of 5.25% and a negative net margin of 8.13%. During the same period in the previous year, the business posted $0.18 earnings per share.
Shares of MRVL stock opened at $51.80 on Thursday. The firm has a 50 day moving average of $47.06. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.50 and a quick ratio of 1.25. Marvell Technology has a one year low of $32.53 and a one year high of $55.70. The company has a market capitalization of $35.00 billion, a PE ratio of -123.33, a PEG ratio of 2.32 and a beta of 1.10.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 28th. Investors of record on Friday, July 9th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Thursday, July 8th. Marvell Technology’s dividend payout ratio (DPR) is currently 41.38%.
In other news, CEO Matthew J. Murphy sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, April 15th. The shares were sold at an average price of $48.66, for a total transaction of $364,950.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew J. Murphy sold 20,000 shares of Marvell Technology stock in a transaction that occurred on Monday, May 17th. The stock was sold at an average price of $42.66, for a total transaction of $853,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,071 shares of company stock valued at $2,357,411. 0.33% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its position in Marvell Technology by 83.4% during the first quarter. International Assets Investment Management LLC now owns 23,192 shares of the semiconductor company’s stock worth $1,118,000 after purchasing an additional 10,546 shares during the period. Oppenheimer & Co. Inc. lifted its stake in shares of Marvell Technology by 11.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 259,416 shares of the semiconductor company’s stock valued at $12,333,000 after buying an additional 25,848 shares in the last quarter. Jag Capital Management LLC boosted its holdings in Marvell Technology by 5.7% in the 1st quarter. Jag Capital Management LLC now owns 141,722 shares of the semiconductor company’s stock worth $6,942,000 after buying an additional 7,691 shares during the period. Dimensional Fund Advisors LP grew its stake in Marvell Technology by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,196,336 shares of the semiconductor company’s stock valued at $199,494,000 after buying an additional 21,679 shares in the last quarter. Finally, Tsfg LLC bought a new stake in Marvell Technology during the 1st quarter valued at $60,000. 89.31% of the stock is owned by institutional investors and hedge funds.
About Marvell Technology
Marvell Technology, Inc, together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; application specific integrated circuits; and printer SoC products and application processors.
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